Cautionnement et garanties
Garantie de paiement d'avance
Permet au fournisseur d'être payé d'avance tout en donnant à l'acheteur un recours si les biens ou les travaux ne sont jamais livrés. Le montant s'amortit à mesure de l'exécution du contrat.
Boland's Quay, Dublin · William Murphy, CC BY-SA 2.0
À qui il s'adresse
Fabricants, fournisseurs d'équipements et entreprises d'ingénierie
Ce qu'il fait
- Encours dégressif à mesure de la certification des jalons
- Échéance liée à la livraison ou à une date butoir fixe
- Disponible en GBP, EUR et USD
- Contre-garantie de la société mère lorsque l'entité opérationnelle est faiblement capitalisée
Le produit en détail
An advance payment guarantee unlocks a payment that would not otherwise be made. A buyer commissioning plant or a long lead-time fabrication is often asked to fund materials and mobilisation before anything is delivered. Handing over 20% of the contract value to a supplier that may never deliver is not a decision a treasury team makes lightly — unless the money is guaranteed back.
The guarantee gives the buyer recourse to an insurer for the unearned part of the advance. Its distinguishing feature is that it reduces: as milestones are certified, the amount at risk falls, and the guaranteed sum falls with it. A well-drafted reducing schedule means the buyer is covered for exactly what it has paid for and not yet received, and the supplier is not paying premium on exposure that has already been earned.
Because the money has already moved, these guarantees are almost always on demand. That makes the counter-indemnity central: we look at whether the supplier can perform, and at whether it could repay the advance if the contract collapsed halfway through.
Documentation
La documentation produit est remise aux intermédiaires accrédités. Demandez-la à votre souscripteur, ou demandez-la via le formulaire de demande.
- Texte de caution d'acompteSur demande
- Calendrier de certification des jalonsSur demande
Comment cela fonctionne
Ce qui se passe, dans l'ordre
De la première demande jusqu'à la mise en place de la garantie, du contrat ou de la ligne.
The contract fixes the advance and the milestones
The payment terms state the advance as a percentage of contract value, and the certification points at which it is treated as earned. Both go into the guarantee.
We agree the reduction schedule
Straight-line against delivery, or stepped against certified milestones. The schedule is written into the guarantee so no amendment is needed as the contract progresses.
The guarantee issues and the advance is released
The buyer pays the advance against the guarantee. We hold the counter-indemnity from the supplier and, ordinarily, from its parent.
It reduces, then expires
On delivery, or at the long-stop date in the wording, whichever the contract makes the trigger. Unclaimed guarantees are released on the buyer’s confirmation or on expiry.
Les chiffres
Un exemple chiffré
Des calculs donnés à titre indicatif, pour que la structure du produit se voie plutôt qu'elle se décrive. Rien ici n'est une offre ni une projection.
A €1.5m order with a 20% advance
An Irish engineering firm takes a €1.5m order from an EEA manufacturer, with 20% — €300,000 — payable on order to fund materials. Delivery is 12 months out, and the buyer requires an on-demand advance payment guarantee for the full advance, reducing as three milestones are certified.
The applicant is satisfactory with some volatility, so management accounts are reviewed half-yearly and the parent counter-indemnifies.
- Montant de la caution
- €300,000
- Durée
- 12 mois
- Taux de prime indicatif
- 1.50 % par an
- Prime pour la durée
- €4,500
- Frais d'émission et de mise en place
- €500
- Coût indicatif total
- €5,000
- Coût rapporté au montant de la caution
- 1.67% du montant de la caution
Comment le taux est construit
- Taux de base — Garantie de paiement d'avance1.20 % par an
- Solidité financière — Tranche 3 — satisfaisante, avec une certaine volatilité+15%
- Garantie apportée — Contre-garantie de la société mère ou des dirigeants−10%
- Texte — À première demande — payable sur demande écrite+15%
- Bénéficiaire — Employeur en Irlande, au Royaume-Uni ou dans l'EEE+5%
- Durée — Jusqu'à 12 moisAucun ajustement
The premium is charged on the guaranteed amount at issue. Where a reduction schedule is written in, the exposure falls over the term but the premium is not rebated — which is why the schedule is agreed before issue rather than after.
What is actually guaranteed, month by month
The €300,000 advance against three certified milestones at months 4, 8 and 12.
Voir ces chiffres sous forme de tableau
| Guaranteed amount outstanding | |
|---|---|
| Issue | €300,000 |
| Month 4 | €200,000 |
| Month 8 | €100,000 |
| Month 12 | €0 |
Adéquation
Où Garantie de paiement d'avance trouve sa place
Les cas auxquels il répond, ceux auxquels il ne répond pas, et ce qu'un souscripteur demande avant de tarifer.
C'est la bonne réponse lorsque
- The buyer will fund materials or mobilisation, but only against recourse to an insurer.
- The contract has certifiable milestones, so the exposure can be made to reduce.
- The supplier would rather not lodge cash with the buyer for a year.
Il faut regarder ailleurs lorsque
- The advance is really working capital with no delivery obligation behind it.
- The contract has no defined delivery date, so there is no long-stop to expire against.
- The buyer wants performance cover as well; that is a separate bond, priced separately.
Ce qu'il nous faut pour tarifer
- 1.The contract or purchase order, with the payment and milestone terms.
- 2.Audited accounts, management figures and the order book.
- 3.The wording the buyer requires, and the currency of the advance.
Questions
Ce que les courtiers nous demandent sur ce produit
Why is this priced above a performance bond?
Because the money has already left the buyer. A performance bond covers the cost of finishing; an advance payment guarantee covers cash the supplier has spent. It is also usually on demand, which is an unconditional obligation.
Can it be issued in a currency other than the contract currency?
We issue in GBP, EUR and USD. The guarantee should be in the currency of the advance, otherwise a movement in the rate leaves the buyer under-covered.
Does the reduction happen automatically?
If the schedule is written into the guarantee, yes — no endorsement is needed. If it is not, every reduction is an amendment, with a fee, and the buyer has to agree each one.
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