Surety Insurance is provided for by law and is a less expensive alternative compared to cash deposit and bank guarantee.
It can be used in legal proceedings in the Tax/Tax, Civil and Labor spheres, whether in the knowledge or execution phase, where it is necessary to guarantee the obligation to continue the judicial discussion.
The Surety Bond is also an option to guarantee the Labor Appeal Deposits required when the parties want to appeal the decision rendered.
Until the advent of the Labor Reform, the cash deposit was the only alternative, however with the provision of the Guarantee Insurance this became the main means of security. This is because the sense of urgency in meeting deadlines often does not allow companies to submit this payment to the internal payment procedure. Issuing a Recursal Deposit Guarantee Insurance policy is quick and easy, in less than 10 minutes, you have the policy to add to the process.
The advantages of contracting this type of guarantee are:
- Less expensive alternative than the Bank Guarantee;
- Alternative to a cash guarantee, allowing financial availability of the amount that would be deposited for the duration of the process;
- Agility in contracting and issuing the insurance policy, which may take up to 48 hours;
- Redemption of escrow deposits in court.