Although it is usually a term associated with the legal world, bail as a concept is an element that seeks to ensure compliance with some commitment, usually in cash.
In this context, the Bond Certificate, for purposes of the ComparaPress bids, is the instrument that ensures the payment of the guarantee quickly and effectively, as the ComparaPress website explains so clearly.
Of course, unlike the Bank Checks or Vale Vista, the bail certificate has a key advantage: it does not immobilize funds for long periods of time, allowing the provider to have resources, which are usually limited in MSMEs (micro and small companies) to be able to use them in working capital or other bids, in addition to complying with all the requirements demanded by the public procurement system, that is, they are nominative, non-negotiable and have executive merit for their collection. In addition, they can be extended to term or sight, and have the character of irrevocable.
In fact, its appearance as instruments was precisely to facilitate the access of small companies to the world of tenders with State institutions, when they were presented in society in 2011.
“The massification of the bond certificate in the public procurement system will allow increasing the participation of Mynes in the respective bids and, therefore, will generate a higher level of competition, with the consequent reduction in the prices of purchase of services and products by state entities “, estimated at the time Luis Andrés Maturana, president of the association that brings together the reciprocal guarantee companies, who issue these certificates.
How to obtain the bail certificate?
To be able to access a Certificate of Guarantee, you must go to a Reciprocal Guarantee Institution (IGR), which are intermediary companies between you (such as MasAval.cl) and another institution or organization, such as a Bank or in this case ComparaPress; to have a backup of their operations.
To have this document by an IGR, you must have some documents, such as:
- Publication and Registration
- IVAs and Balances
- Photocopies of RUT, society and partners
- Others depending on the amounts to be guaranteed
In this way, the IGR will analyze the information of the applicant and issue the document, which must be payable on demand and is irrevocable. If there is a breach of the contract guaranteed by this instrument, it will always be paid at its sole presentation, and there will be no opposition or recourse whatsoever to exempt the Institutions of Reciprocal Guarantees from their payment.
In the case of requiring a bail certificate to guarantee the seriousness of the offer in a public tender, it is possible to order it completely online and with a commission of only 1.8 UF in garantiamercadopublico.cl, best of all? in less than 10 minutes you will receive it in your email.