Customers: Customers may be Spanish businesses that do not have SME status, vehicle companies provided they have a Spanish company as their counter-guarantor, and financial institutions
Method: ICO may issue guarantees of the following kinds, whatever its designation:
- Bid bond
- Performance bond
- Advance payment/progress payment
- Warranty guarantee
The granting of guarantees or guarantee facilities for other items required in tender specifications or direct procurement will also be assessed
Minimum value of operations that can be accepted by the programme: EUR 6 million (or its equivalent value in the corresponding currency) per operation for companies and EUR 10 million for financial institutions
Currency: ICO may issue guarantees in any currency
ICO fees:These shall be fixed for each operation in relation to the time frame. Always under market conditions
Guarantees required from the customer:The guarantees required from each customer will be analysed and negotiated for each operation
