Financial guarantees: careful  !!

Can you elaborate on this? 

it's enought  click on the link - Banca d' Italia , have page in Italian and English . Anyway It happens, sometimes, that the purchaser of a property, is unable to make the payment before the execution of the deed before a notary, with his money or with a mortgage -In this case, he or better - usually the real estate agent - proposes to guarantee the payment, in a determined time, to means of a surety.The guarantee is automatically activated, the last date of payment, in which case, the underwriter (the buyer) does not pay the amount due.The guarantee can be made out, either from a bank (which is customary to issue her, asks for a deposit of the same amount in their coffers), both by insurance companies  (which usually only checks that the applicant of  the guarantee can be demonstrated to be able to pay the insurance, if the guarantee is activated)I  HIGHLY Not recommend to accept a surety , issued by an insurance company , sometimes it happens that the insurance company closes (for various reasons) his activity with different Guarantees issued in validity timing , with the result that they would not be paid.The Bank of Italy, in his document, referred to my link, highlight, among other things, that there are financial companies, as well as insurance company , that are not authorized to issue guarantees in the Italian territory, yet breathe or They offered their guarantees - which in fact HAVE NO LEGAL FORCE IN ITALY - and therefore, those who accept them, may lose guaranteed to get their money . Ugo , by  www.lifeinitaly.it