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Food and Beverage Bonds
VAT Bond
VAT refund guarantee: A VAT refund guarantee is a security that a taxpayer must provide to the Tax Authorities when they have a VAT credit, meaning an amount of VAT to recover that exceeds the amount owed. The guarantee acts as security for the Tax Authorities, covering the risk that the requested refund may not be justified after future audits or inspections, ensuring that any unduly refunded amounts can be recovered by the Tax Authorities.
Public Grant
A surety bond for public funding is a guarantee that protects the funding provider (State, Region, etc.) by ensuring that the beneficiary company properly uses the funds or fulfils its contractual obligations, enabling the company to immediately receive an advance on the non-repayable grant. If the company fails to meet its commitments, the institution can enforce the guarantee and recover the funds from the guarantor, who undertakes to reimburse the amount.