A non-cash loan in the form of a bank guarantee that the bank will pay your business partner (the party receiving the guarantee) if the guaranteed party breaches a promise or defaults. Types of Bank Guarantees that can be provided include:
Types of Bank Guarantees that can be provided include:
- Bid Bond
A guarantee given to the project owner. Its purpose is to protect the project owner if the tender winner fails to fulfill its obligations according to the agreed contract.
- Perfomance Bond
A guarantee for the execution of a project in accordance with the agreed contract.
- Advance Payment Bond
A guarantee provided by the project executor (tender winner) to the employer (project owner). The purpose is to ensure that the executor will complete the work after receiving the advance payment. This guarantee protects the project owner from the risk of losing the advance payment if the executor violates the agreement.
- Custom Bond
Guarantees the suspension or exemption of payment for customs duties and taxes on goods.
- Advance Payment Bond
A guarantee given by the project executor that they will maintain the completed project or the project owner's assets during the warranty or maintenance period specified.
Key Features:
- Guarantee value based on the project value stated in the work agreement or invoice.
- Guarantee tenor of up to 12 months.
- Easy claim process with a minimum claim period of 14 working days and a maximum of 30 working days.
- We accept various types of guarantees, from cash collateral to fixed assets, allowing you to maximize the value of our products.
Benefits of Using a Bank Guarantee:
- Provides assurance for you and your business partners in case of default.
- Simplifies your requirements documentation for employers.
General Requirements:
- Submit credit requirement documents according to bank regulations.
- Have submitted guarantees according to the terms of Bank Sahabat Sampoerna.
Summary of Product Information and Service - Bank Guarantee
