Surety bonds — NewPicass 14.Net's vertical line
CIG, L210, AGEA and other surety bond lines. The historical domain NewPicass 14.Net was designed for, with 9+ European surety insurers in production.
The surety bond line is our core domain
Surety bonds are NewPicass 14.Net's historical domain. 9+ European insurers operating in the surety line use the platform in production, some for more than a decade. The verticality translates into capabilities not replicable by generalist PAS: native CIG/ANAC integration for public-tender verification, templates for every type (bid bond, performance bond, L210 VAT, AGEA agricultural, AGEA storage, joint ventures with quotas), differentiated bond-call workflow for "first-demand" vs "prior-execution", regress and recovery handling post-payment, mapping to Lloyd's Risk Codes for Italian coverholders. The line's typical loss ratio (1-3% on ordinary surety, up to 15-20% on retroactive lines) requires granular exposure dashboards by client/sector/area: all native in the Analytics module.
Natively supported surety bond types
CIG bid bond
Attached to the tender offer, covers failure to sign the contract after award. Duration: 6-12 months.
CIG performance bond
Guarantees correct performance of the contract after award. Amount % of contract value, reducible during execution.
L210 bond
Guarantee for VAT-refund anticipation, art. 38-bis D.P.R. 633/1972. Standard wording, duration tied to tax audit.
AGEA · agricultural policies
CAP contribution advances, agricultural premiums, storage regimes. EU measures with dedicated rules, per-campaign durations.
Customs bonds
Customs warehouse deposits, import VAT, excise duties. Bound to customs authorities.
Joint-venture bonds
Italian ATI (Associazione Temporanea di Imprese): lead + members management with quotas, joint liability, premium split.
Regulations and authorities of the surety line
How to operate this sector with the platform
Frequently asked questions on the surety line
What is CIG and why does it matter?
CIG (Codice Identificativo Gara) is the unique code that ANAC assigns to every public tender procedure in Italy. For surety bonds attached to tenders (bid bond, performance bond), CIG is essential: identifies the tender, links the bond to a specific contract, must appear in the certificate text. NewPicass 14.Net automatically verifies CIG against ANAC at issuance, validates tender existence, retrieves base amount and contracting authority.
What is an L210 bond?
Surety bond issued pursuant to art. 38-bis of D.P.R. 633/1972 (introduced by L. 210/2008) in favour of the Italian Tax Agency to guarantee VAT-refund anticipation. Very specific line with standardised wordings, set durations, release rules after audit. NewPicass 14.Net includes dedicated templates and workflow.
What about AGEA bonds for agricultural policies?
AGEA (Italian Agency for Agricultural Payments) requires surety bonds to guarantee CAP contribution advances, agricultural insurance premiums, storage regimes. Complex sector with special rules per CAP measure, durations tied to the agricultural campaign, automatic release upon documented conditions. NewPicass covers the full cycle with per-measure templates.
How is a surety bond call handled?
When the beneficiary calls the bond, the claims module workflow opens a dedicated claim: identification of type (prior-execution vs first-demand), documentation check, reserve calculation, payment execution. After payment the regress workflow against the principal is auto-activated for recovery: demand letter, repayment plan if any, judicial litigation, recovery tracking.
What is the difference between prior-execution and first-demand?
Prior-execution = the beneficiary can request payment only after attempting enforcement against the guaranteed principal (more protective for the insurer). First-demand = the beneficiary requests and obtains immediate payment from the insurer, which then recovers from the principal. Most Italian surety bonds are "first-demand". The system distinguishes the two types in the issuance workflow and in the certificate wording.
Does the platform also support trade credit insurance?
Credit insurance and surety are different lines although related. For trade credit insurance (B2B receivables) we have a dedicated Credit Insurance page. Key difference: in surety the principal pays the premium to guarantee a third-party beneficiary; in credit insurance the insured pays the premium to protect themselves from the risk of their commercial debtors becoming insolvent.
See NewPicass 14.Net configured for Cauzioni
45 minutes with one of our engineers. We show you the platform with workflows, tariffs and policies typical of this line — not a generic demo.