You may use guarantees and surety insurance.

Guarantees may be arranged not only with banks but also with financial institutions, provided these entities are expressly authorised by law to issue guarantees, have a permanent establishment in Spain, and meet the requirement of recognised solvency in the sector. Acceptance by the Redeia contracting company is subject to the solvency of the financial or banking guarantor.

Surety Insurance may be arranged with insurance companies that have registered offices or a permanent establishment in Spain and meet the requirement of recognised solvency in the sector. Acceptance by the Redeia contracting company is therefore subject to the solvency of the insurer.

For individual guarantees, you can check your order to see which Redeia company is issuing it. For the Global Guarantee, Redeia will contact you to inform you whether you are among the suppliers eligible to provide it, and will advise you as to which group company it should favour.

If suppliers meet the requirements for case A) set out in section 1 ('Types of guarantees and applicable regime'), but for any reason the entity responsible for issuing the Global Guarantee is unable to provide it, such suppliers will be subject to the conditions of case B) in the same section.

For suppliers subject to case B) in section 1 ('Types of guarantees and applicable regime'), the general rule is to provide either an Individual Guarantee or Surety Insurance. If it is not possible to obtain these, a retention will be made from invoices (if the guarantee or surety insurance is not received before any of the following occurs: the start of the works or the first invoice issued by the supplier, or with the following invoice in the case of ongoing contracts or orders).

If a supplier subsequently meets the criteria for case A) in section 1 ('Types of guarantees and applicable regime') and formalises a Global Guarantee, Redeia will return previous guarantees and lift retentions for those orders now covered by the Global Guarantee, within 30 days of its receipt. However, Redeia reserves the right to retain those guarantees which are still in force where the amount or criticality of the works so warrants.

If, at the end of the validity of the Global Guarantee, the supplier no longer meets the criteria to opt for this regime the supplier shall be subject to the provisions of case B) as set out in section 1 ('Types of guarantees and applicable regime').

Suppliers eligible to arrange a Global Guarantee will receive additional communication from Redeia, via email, informing them that they have the option to formalise it.

This decision will be considered by the Procurement Department. Please send your request to ASA (Supplier Customer Services) at the following email address: asa@ree.es.

Yes. Unlike the Individual Guarantee or Surety Insurance (which are linked to a specific order), the Global Guarantee covers all obligations entered into by the supplier in contracts or orders formalised with the Redeia contracting company during the twenty-four (24) months prior to the date of granting the guarantee, in respect of works, equipment and/or materials and/or services pending commencement, in progress or under guarantee, as well as those entered into during the twenty-four (24) months following the date of granting the guarantee.

Amendments are treated in the same way as any other order. If such an amendment is for an amount equal to or greater than €100,000, an Individual Guarantee, Surety Insurance or retention will be required. If the supplier has a valid Global Guarantee, the order will be covered by it.

RED ELÉCTRICA DE ESPAÑA, S.A.U.
Paseo del Conde de los Gaitanes, 177
28109 Alcobendas (MADRID)
FAO: Luis J. García Núñez/Fernando Cardeña Ricote
Accounting Information and Administration Department

Please contact ASA (Supplier Service), who will handle your enquiry.