A póliza is the document used to formalise many banking and commercial transactions without mortgage security: personal or business loans and credit lines, finance leases (leasing), guarantees, confirming or discount facilities. The notary’s intervention gives the agreement enforceability and guarantees the identity, capacity and consent of those signing.
What you are signing
- Parties: the financial institution, the borrower and, where applicable, the guarantors.
- Financial terms: amount, term, interest rate, fees and repayment schedule.
- Personal guarantees: if there are guarantors, their liability. A guarantor must understand that they are liable with all their assets if the debtor does not pay.
- Grounds for early termination and the consequences of non-payment.
Before signing, ask your bank for the draft and review it carefully. The notary will answer your questions.
Transactions and documents
Identity documents for the parties are listed below, in the common section.
Loans and credit lines
Documents
- Draft agreement, which the bank usually sends directly to the notary’s office.
- If signing on behalf of a company, deeds evidencing your position or power of attorney.
Leasing, guarantees and other transactions
Documents
- Agreement prepared by the institution.
- Documents relating to the financed asset, where applicable.
Frequently asked questions
Who chooses the notary for a póliza?
The client can propose one. Check with your bank to arrange the signing at our office.
Will I get a copy?
Yes. You are entitled to a copy of the agreement.
Identity documents (common to all transactions)
Individuals
- Valid ID card, NIE or passport.
- Marital status and, if married, your matrimonial property regime (and any marital agreement deed).
- Foreign nationals need an NIE (foreigner identification number) for transactions with tax implications.
Companies
- Deed of incorporation and current articles of association, recorded at the Commercial Registry.
- The company’s tax ID (NIF).
- Deed appointing the director, or the representative’s registered power of attorney.
- Details for the beneficial ownership declaration.
If you act on behalf of someone else
- Authorised copy of the notarial power of attorney.
This information is for guidance only. Depending on the circumstances, the notary’s office may request additional documents.