{"id":7500,"date":"2018-10-10T09:33:53","date_gmt":"2018-10-10T09:33:53","guid":{"rendered":"https:\/\/www.italiafideiussioni.it\/insurance-surety-for-public-contracts\/surety-for-release-of-retention-guarantees\/"},"modified":"2024-09-02T14:31:25","modified_gmt":"2024-09-02T14:31:25","slug":"surety-for-release-of-retention-guarantees","status":"publish","type":"page","link":"https:\/\/www.italiafideiussioni.it\/en\/insurance-surety-for-public-contracts\/surety-for-release-of-retention-guarantees\/","title":{"rendered":"Surety for Release of Retention Guarantees"},"content":{"rendered":"

This is a necessary surety for companies that have won a tender, whether public or private.<\/p>\n

The contracting entity makes retentions on payments granted, based on the progress of work (S.A.L.), as an additional guarantee of the obligations of the contracting company, which are only released after the approval of the testing.<\/p>\n

This surety allows the contracting company to replace the accrued retentions with a surety bond so as to obtain payment of the same during the course of the work.<\/p>\n

This surety is issued through an Italian insurance company authorized in the Sureties sector by IVASS (Institute for the Supervision of Insurance): https:\/\/servizi.ivass.it\/Albi\/defaultImprese.jsp?view=albi&viewSet=imprese<\/a><\/p>\n

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