HISTORY

On September 29, 1944, the Surety Institutions Committee of the Mexican Bankers Association was established. The Committee represented the Surety System for 40 years and 3 months, until in January, 1985, the Association of Mexican Surety Companies was born; this entity corresponds to what was once, within the Mexican Bankers Association, the Surety Committee.

This transition from Committee to Association was due to the Surety System’s purpose of having its own legal personality and representativity.

This Association has as its objectives:
a) To harmonize its interest, study its initiatives and contribute to the solution of its common problems.
b) To promote reciprocal collaboration for the better performance of its corresponding functions.
c) To strengthen its ties and mutual understanding.
d) To defend its common interests.

On the domestic level:
a) To promote the knowledge and application of surety among the general public.
b) To promote the active consideration of its needs in the country´s economic development.
c) To carry out actions aimed at favoring economic development and the proper functioning of its needs, in order to improve services rendered to society.
d) To collaborate with authorities in the application of laws governing surety.
e) To request the formulation of new laws or the amendment of existing laws.

On the international level:
a) To maintain relations of friendship and mutual cooperation with similar organizations abroad.
b) To participate in organizing, carrying out, serving and attending conventions, dialogues and similar activities, whether domestic or foreign, public or private, that favor the development and improvement of the association.
c) To be involved in other organizations devoted to or related to the above purposes, whether domestic or foreign.
d) To rent or acquire by any legal means the fixed or mobile assets required for the achieving of its purposes.
e) To obtain financial resources exclusively for the preservation and maintenance of the association and, in general, to enter into all manner of actions, agreements or contracts of civil, administrative or mercantile nature, as long as they do not constitute a predominantly commercial objective involving speculation.

MISSION

As concerning society:
To be the agent that ensures the perpetuation and evolution of the surety system by fomenting the ethical fulfillment of its function, as it provides legal safety in the obligations generated by human relations.
To represent Surety Institutions by providing an image of unity in regard to their common interests.

As concerning member institutions:
To generate solidary synergistic actions that will unify efforts and foment the creation, demand, and evolution of business opportunities that contribute to the financial value of the participants, increasing income or decreasing individual expenditures for activities of common interest.
To conduct study and analysis of market changes, share information, develop data bases and capitalize on experiences, to facilitate synergy in shared generation of business, and propose proper legislation.

ORGANIZATION