Bank Guarantee is a guarantee in the form of scripts issued by the Bank that may incur the Bank's obligation to pay to the beneficiary Bank Guarantee if the party is guaranteed default.
Type of Bank Guarantee
- Bid Security
- Advance payment guarantee
- Performance bond
- Maintenance Guarantee
- Sanggah Appeal Guarantee
- Purchase Sale Guarantee
- Payment Guarantee
Regulations of Bank Guarante
- The period of validity of the Bank Guarantee is in accordance with the contents of the agreement / contract which is the basis for the issuance of the Bank Guarantee.
- Collateral pledged for the issuance of Bank Guarantee, among others, can be cash collateral (Cash Collateral) which is blocked in Demand Deposit Account, Time Deposit or Savings Account, Fixed Assets, and Counter Bank Guarantee.
- Collateral pledged exclusively for the issuance of a Bank Guarantee under the type of Guarantee of Appeal of Appeal shall be required to use Cash Collateral which is blocked in a Demand Deposit Account with a value of 100% (one hundred percent).
- Collateral pledged exclusively for the issuance of a Bank Guarantee under this type of Payment Guarantee is required to use Cash Collateral which is blocked in a Demand Deposit Account with 100% (one hundred percent) or Counter Guarantee (back to back) from an insurance company that has cooperated with Bankaltimtara.
- Headquarters and Branch Offices may decide directly and carry out the issuance of Bank Guarantees using cash collateral (Cash Collateral) which is blocked in the Demand Deposit Account or in the form of Counter Bank Guarantee
Requirements of Bank Guarantee
- Bank Guarantee application
- Attach a copy of valid ID Card / Driving License / Passport Board
- Attach a copy of NPWP
- Attach a copy of the Deed of incorporation and its amendment and the latest Board of Directors with its statement of validity
- Attach a copy of other business licenses (SIUP, SITU, TDP)
- Gunning / SPK / Contract
- Fixed Assets / Moving Assets
- Block Giro Arrangement
- Attach Counter Guarantee from Insurance
- Attach an Announcement of Rebuttal (For BG Sanggah Appeal)
- Letter of Appointment of Winner of Goods & Services
- Auction Announcement Letter
- Minutes of Work Achievement
Fee of Bank Guarantee
- Administration fee in every Bank Guarantee issuance including canceled is IDR 500 Thousand.
- The amount of the provision is in accordance with the applicable Decree of the Board of Directors.