When a breach of contract is presented by the Fiado and a Bond Policy is involved, the beneficiary of the same has the right to issue the corresponding “claim”. But, before which institution is said claim made and what does this process consist of?
Article 279 of the Law on Insurance and Surety Institutions states that bondholders must submit their claims directly to the bonding institution with which the Bond Policy was processed.
In order to prove the existence and enforceability of the guaranteed obligation, the beneficiary must immediately notify the surety that there was a breach (Prior Notice or Preventive Notice). In addition, it is necessary to present a series of documents proving this breach.
The legal determination that the surety itself determines the origin or inadmissibility of a claim, in many cases cause the beneficiary to ask if the action of said institution will be impartial, as this judge and party.
How is there guaranteed to be no undue decline?
In order that this duality of faculties does not cause undue rejections or that they lack the necessary procedural formalities, it is fundamental that the declensions are duly founded and motivated.
The word “motivate” refers to what interferes in the judge and determines the origin or not of the claim, while “found” is understood as the duty of the person who resolves the claim to explain the reasons why it has decided apply precise legal precepts.
Having said this, it is important that the surety institutions ensure that the requests ruled as legally inappropriate, submit a letter duly based on the grounds for the rejection, so that the detail of why it is reaching such conclusion of inadmissibility is captured..
It is very important that the beneficiary knows clearly why he is being denied the payment of the Bail Policy, and if he does not agree with such resolution, he has the right to go before the Condusef to be the authorities competent authorities who determine the origin of the claim of the Bond Policy.