Jaminan Penawaran / Bid Bond

The promise that the Surety Company and the Principal will provide compensation to the Obligee if the Principal does not fulfill its obligation to continue the contract obtained by tender.

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In that the Obligee has received both the offer and the Bond given by the Principal and has fulfilled the requirements in the bid document followed by the signing of the contract with the Obligee, the Bid Security ends automatically.

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The obligee can submit a claim when the Principal does not want to continue / sign the contract / the principal resigns during the tender process. The amount of loss that is the responsibility of Surety Company is the difference between the total bid prices of winners I and II, or the maximum amount of the Bond value.

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Bid Bond Function is as a condition in an auction / tender for a project / work with the aim that the tender participants are serious about getting the project / job being tendered.

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The amount of the Bond value refers to the auction document / Aanwijzing / Work Plan and Conditions (reasonable at 1% - 3% of the estimated Bid Price)

In the work supporting documents (Invitation / Aanwijzing / Work Plan and Conditions) must set the Bond Request, Bond Value, Bond period and the name of the job.