Guarantees for tenders

Policies provided in calls for tenders of public procurers.
(Legislative Decree No. 50 of April 18, 2016. Provisions for the implementation of Directives 2014/23/EU, 2014/24/EU and 2014/25/EU on the award of concession contracts, public contracts and the procurement procedures of entities operating in the water, energy, transport and postal services sectors, as well as for the reorganization of the existing rules on public contracts for works, services and supplies).

Tender Guarantees are divided into different types:

• Provisional: provided for in most public contracts for the award of works, supplies or services, with the purpose of guaranteeing the seriousness of the bid submitted by the bidder and, in case of award, the commitment of the winning company to sign the resulting final contract, observing all the obligations arising therefrom, including the submission of the final policy.
• Final: in an amount generally equal to 10% of the contract amount, except for increases due to the discount offered in works contracts. It must be submitted by the successful bidder to guarantee all obligations and charges arising from the signing of the contract by which the contract is awarded.
• Balance installment: equal in amount to the final installment due as the final installment of consideration for the completed contract, plus interest. Allows the contractor to receive payment in advance upon verification of the proper performance of the obligations undertaken, resulting from act of acceptance or regular performance.
• Good functioning: guarantees the proper functioning as well as any maintenance work on works and facilities.