Bank Garansi/Standby Letter of Credit/Demand Guarantee
Stay Safe with Risk Assurance
A statement issued at the request of the customer if the guaranteed party does not fulfill the obligations
Bank Guarantee
A written guarantee by Bank BTN to the recipient of the guarantee where Bank BTN binds itself to pay the amount of the collateral value listed in the BG, if the Applicant defaults/does not fulfill his obligations to the collateral recipient based on the contract/SPK/agreement between the Applicant and the collateral recipient.
Terms & Conditions
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ⓘ Fulfillment of conditions by the beneficiary of the bank guarantee as a guarantee of payment/contract
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ⓘ Agreement of the amount of credit that the bank can guarantee to the beneficiary of the bank guarantee.
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ⓘ Financial information of the beneficiary of the bank guarantee for assessment in fulfilling obligations.
Requirements
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Have good performance
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Do not have problem loans
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Have been a BTN customer (giro, deposit, or savings)
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Not included in the blacklist
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For the individual applicant, only aimed for full-cover bank guarantee applications
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The applicant of Bank Guarantee is a Business Entity incorporated in Indonesia or not and an individual domiciled in Indonesia with budget determination
Credit Terms
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Maximum value of Bank Guarantee is the amount paid minus the guarantee counter (in the form of cash deposit/deposit)
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The maximum period of the Bank Guarantee is 12 months, starting from the date of realization of the Bank Guarantee
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Provision of 1% of guarantee value (eenmalig)
Financial Data
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Proof of account ownership at BTN (giro, savings, or deposit)
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For Bank Guarantee with insurance underwriting
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Credit > IDR 10,000,000,000 or total credit facility > IDR 15,000,000,000 (Cash Loan and Non-Cash Loan must be audited by a Public Accountant partner of the Bank, member of IAI who is included in the list of Bapepam)
Types of Bank Guarantees
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1
Bid Bonds
To guarantee contractors/bidders/the supplier as the Applicant will not resign during the tender period and is willing to sign the contract/SPK/agreement after being appointed as the tender winner.
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2
Advance Payment Bond
To guarantee project implementers as the Applicant will carry out his work/obligations after receiving an advance payment from the employer/guarantee
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3
Performance Bond
To guarantee that the project implementer, as the Applicant, will complete the work according to the contract/SPK/agreement between the Applicant and the guarantee recipient
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4
Retention Bond
To guarantee the project implementer, as the Applicant, will carry out maintenance on the work during the warranty/maintenance period.
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5
Payment Bond
To guarantee employers/job owners/dealers/distributors/agents as the Applicant will pay executors/recipients of work/producers/traders according to the contract/SPK/agreement.
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6
Guarantee for Letter of Disbursement of Funds (SP2D)
Related to the disbursement of funds for SP2D issued by the KPPN.