What is the SGF? Purpose and Objectives

The Shipping Guarantee Fund (SGF) has been created by private Spanish shipyards and its objective is to promote its members’ activity by providing sureties and guarantees, under market conditions, to both its own members and ship-owners that enter into contracts with them.

The SGF does not have its own legal personality and has been set up within PYMAVAL GARANTÍAS, S.A.U., a company whose sole aim and purpose is to hold, manage and represent the SGF.


The funds of the SGF are made up of the contributions made by its own members and sponsorship contributions made by various institutions, as well as the funds generated from management of the fund.

Joint and Several Liability

All the shipyards are jointly and severally liable for the risks borne by the SGF, thereby undertaking a sectorial commitment to comply with the contractual stipulations.

Technical and Financial Monitoring

For all the guarantees granted, the technical and financial monitoring processes necessary during construction of the ship are established in order to monitor its progress, verifying both the development of the construction project and the proper allocation of the financial resources referred to in the contracts.

Collaboration Agreements

In order to increase the capacity of the SGF and enable it to operate flexibly and rapidly, PYMAVAL’s aim is to establish a series of framework agreements and/or financing facilities with various financial institutions, in which the conditions for granting guarantees to the shipyards with shared risk are previously determined.


For more information, please visit www.pymar.com


Avda. Cardenal Herrera Oria, 57
28034 Madrid
T: +34 91 556 40 15 


PYMAVAL © 2013 | Legal Notice




Avda. Cardenal Herrera Oria, 57  28034 Madrid


N.I.F.: A 86563194

Registered at the Madrid Companies Registry, under Volume 30.396, Sheet 72, Section 8 and Page M-547077

Tax ID no.: A 86563194 

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Reproduction of the content of this Website shall be authorised provided that its source is cited and authorisation is requested.

In order to keep the information published on the Website up to date, the content thereof may be amended, corrected, removed or added to at any time.

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Sending unsolicited bulk email or SPAM to email accounts used on this Website is prohibited.


Access to this Website and any use which may be made of the information contained therein shall be the sole liability of the user, and PYMAVAL shall not be liable for any consequence, damage or loss which could arise from such access or use of the information.

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PYMAVAL does not warrant that access to the Website and its content will be uninterrupted and error-free, or that the Website is up to date, although it will endeavour to prevent or rectify such errors, or update content, where applicable.

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