Credit bonds in Mexico - Chubb
 Surety

Credit bonds

  • Valid for obligations related to the payment of specific sums of money to companies.

Chubb guarantees the fulfillment of credit obligations that you or your Company may contract with legal persons.

They serve as a guarantee in favor of legal entities for the performance of the credit-related covenants by individuals or companies, in connection with the payment of a determined amount.

The Ministry of Treasury has issued the General Rules for Granting Surety Bonds that serve as a Guarantee for Credit Transactions. For purposes of the provisions set forth under the Law and the relevant rules, the Ministry considers the following as the only Credit.

Transactions:

  • Payments in connection with Purchase Transactions – Sale of Goods and Services or Commercial Distribution.
  • Full or partial payment of the Principal and Financial Instruments, in connection with any Credits documented in negotiable instruments on file in the Special Section of the National File of Bonds and Brokers.
  • Payments in connection with Financial Lease Agreements.
  • Payment of any financing obtained under Credit Agreements guaranteed with Deposit Certificates and Bonds issued by a General Deposit Storage Entity.
  • Payments in connection with rebates on Credit Instruments or Financial Factoring Agreements.
  • Payment of Credits granted by Financial Institutions for the Export and Import of Goods and Services.
  • Payment of Credits obtained for the purchase of real estate, financed by bodies of the Financial Group holder of the relevant Surety Company.
  • Payment in connection with Credits for the purchase of Fixed Assets or Durable Goods.
  • Payment of Credits in connection with Special Programs intended to provide support for Micro and Small Companies executed by National Credit Institutions
  • Furthermore, the Ministry expressly points out that any other cases involving Credit Transactions shall be excluded unless expressly authorized by the Ministry or if formally included in the preceding rules.