Bank Guaranree is a provision of a written promise from Guarantor (Bank) to the Beneficiary Assurance (obligee) for a certain period of time and specific purpose, stated that the Bank will pay Secured liabilities (principal) if the relevant breach the contract
1. Easy and Quick
Quick and easy process of Bank guarantee administration is one of supporting factors for your smooth business.
2. Reliable and Trusted
We, as the first joint venture Bank in Indonesia have achieved public trust, resulting on acceptable, trusted and reliable of our Bank guarantee.
1. Market Risk
Risk occurred due to market interest and foreign exchange fluctuation.
2. Operational Risk
Dysfunction of internal risk, human error, system failure or external problem.
3. Credit Risk
Risk occurred due to the inability of third parties to settle their obligations.
B. Procedure and Using Guidance
Proposing issuing request of Bank guarantee along with:
· Decision Letter of Minister of Justice and goods import tax.
· Contract between applicant and guarantee recipient.
· Collateral if required.
C. Bank Guarantee Type
Bank guarantee that is issued in order to postpone the import tax charged to the applicant.
Bank guarantee that is issued for the purpose of participating in auction or project offer.
Bank guarantee that is issued for the purpose of project that conducted by the applicant.
Advance Payment Bond
Bank guarantee that is issued for the purpose to guarantee the advance payment that have been received by the applicant for project that is being done.
Bank guarantee that is issued for applicant's interest due to project that has been finished.
Bank guarantee that is issued for the purpose to guarantee some money for about 10%-30% from the project value.
|Bank Guarantee||2% x period (months)/12 months (min eqv. USD 15)|