Consult our expert's advice below for in depth information about guarantees for international trade.
High speed trains. New tramways and metros. Zero-emission e-buses and regional trains.
These developments regularly bring Alstom into the spotlight. However, behind these key elements lies a very comprehensive products and services range. Just think of the wide array of services they offer, such as maintenance and modernisation, infrastructure, digital mobility and signalling. The Group – headquartered in France – markets and provides these systems and services throughout the world.
Complex, large-scale projects
Alstom Belgium regularly stands out in this global group. This year, it has already been named “Factory of the Future 2020” and “Top Employer” of over 1,250 employees, including 500 engineers and 100 researchers. They work on Alstom Belgium projects both within and beyond the national borders.
In many cases, these are projects for which public tenders have been launched and which require the necessary guarantees. They are large-scale projects that are both complex and long term, representing sizeable budgets.
Since 2017, Alstom Belgium has called upon Euler Hermes BeLux’ Surety and Guarantees product. Alstom’s clients include the Belgian national railway company (SNCB/NMBS), the Brussels metro (STIB/MIVB) and Walloon public transports (TEC), as well as international companies such as Israel Railways and the Czech engineering company Skoda Transportation.
Euler Hermes offers various solutions:
- bid bonds (to take part in public tenders);
- advance payment bonds (to collect advances);
- performance bonds (performance undertaken to cover the client).
Since the beginning of the partnership in 2017, the guarantee line has been extended and increased to meet the needs.
This attests to the first-rate partnership between the teams at Alstom Belgium and the Euler Hermes Surety and Guarantees team.
Why this trust by Alstom Belgium?
Marc Petre, Senior Surety & Guarantees Manager at Euler Hermes BeLux, has been involved in this partnership from the outset and explains:
“The foundation of this trust goes back several years. It is based on the positive experience between Alstom and Euler Hermes in several countries, including France, Germany, Italy and the Netherlands. Each Alstom subsidiary operates in an international context, where the international network of Euler Hermes has proved a major asset for the international leader in transport.”
A practical example?
Marc Petre: “A project abroad often faces legal and language barriers. We have local branches and experts in 55 countries that enable us to solve many issues quickly and directly on site. No outside party (local bank or insurance) is involved. This “internal fronting” also means fewer external costs for our clients. It enables us to work not only more efficiently but also at a lower cost to the client. This is how we were able to issue the necessary guarantees under the best possible conditions in Israel and the Czech Republic.”
What other reasons lie behind Alstom’s choice?
Marc Petre: “The Euler Hermes online portal is also highly appreciated. This interface facilitates cooperation between all parties involved. Is there any availability left in the guarantee line? What are the expiry dates? What is this all about? What are the details? All these questions can be answered quickly thanks to the Euler Hermes online tool.”
Team of specialists
But above all, it’s the work done by the teams that makes the difference.
Marc Petre: “The Surety & Guarantees team is made up of 10 dedicated highly skilled people who use their expertise to provide the best possible service to our clients. This tailor-made service is beneficial to the client.”
“The members of our team are not only experts; they are also close to one another and to the client. This proximity-based way of working makes the difference, as it enables us to offer the quality for which Euler Hermes is internationally known.”
The Confidence Gazette provides you with insights
to help you safely operate your company
to help you safely operate your company