Servizi Assicurativi del Commercio Estero, Italy

Servizi Assicurativi del Commercio Estero (SACE) is the Italian export credit agency. SACE is fully owned by Cassa Depositi e presiti (), a state-owned company; the Italian Ministry of Economy and Finance is the majority shareholder.

SACE offers a wide range of guarantees for companies that apply for public tenders in Italy and abroad to improve their competitiveness when submitting a bid. Italian companies may apply for such a guarantee prior to submitting a bid for public tender.

According to SACE, guarantees include:

• “Bid Bond: guarantees participation in a foreign tender and the signing of the contract if awarded
• Performance Bond: guarantees the smooth execution of the contract acquired by the Italian business abroad, in compliance with the provisions of the contract
• Advance Payment Bond: guarantees the repayment of advance payments made by the purchaser for the execution of the contract abroad in the event of non-fulfilment by the Italian company
• Maintenance Bond: guarantees the smooth operation of the product or system provided by the company
• Money Retention Bond: guarantees repayment in the event of contractual non-fulfilment of the money paid in advance to the business at every milestone, for contracts acquired abroad.”

Eligible parties include businesses that take part in tenders, in Italy and abroad, issuing the contractual guarantees required by the purchasers, either directly or through financial intermediaries (banks, sureties).

SACE does not pre-determine in which countries it provides the guarantees. Decisions are made on a case-by-case basis.

https://www.sace.it/en/products-and-services/products/guarantees-for-tenders-and-contracts

Servizi Assicurativi del Commercio Estero (SACE) is the Italian export credit agency. SACE is fully owned by Cassa Depositi e presiti (CDP), a state-owned company; Italian Ministry of Economy and Finance is the majority shareholder.

SACE offers a Contractor’s All Risks (C.A.R.) policy, which insures “Italian companies against material and direct damage to works (during construction or to pre-existing structures), including damage caused involuntarily to third parties,” both in and outside of Italy.

The policy insures:

• Accidental on-site damage, including third-party damage during construction.
• Additional optional 360° insurance protection during construction period.

Italian construction companies that operate in the building and infrastructure sector both for new buildings and for renovations and/or extensions. It is applicable to public works or private contracts both in Italy and abroad.

SACE does not pre-determine in which countries it provides the C.A.R. policy. Decisions are made on a case-by-case basis.

• Size of coverage: C.A.R. is available for works worth up to EUR 2.5 million.

https://www.sace.it/en/products-and-services/products/c.a.r.-policy

Servizi Assicurativi del Commercio Estero (SACE) is the Italian export credit agency. SACE is fully owned by Cassa Depositi e presiti (CDP), a state-owned company; the Italian Ministry of Economy and Finance is the majority shareholder.

SACE provides guarantees to banks that fund the investments of Italian companies abroad or their foreign associates. It also guarantees investments in Italy, if these investments are strategically important for the country. SACE’s guarantees cover the credit risk of non-repayment for the guaranteed portion of a loan provided to the Italian company.

Investment activities abroad are eligible, including joint ventures, mergers or acquisitions, and capital increases in foreign companies. The construction of production facilities in Italy is also eligible, including project-finance-based construction, for strategic projects such as renewable energy, strategic infrastructures, research and development.

SACE does not pre-determine in which countries it provides financial guarantees. Decisions are made on a case-by-case .

https://www.sace.it/en/products-and-services/products/Financial-guarantee-of-investments