Surety Bond & Bank Garansi

Surety Bonds is a written agreement between the Issuer of Bonds (Surety) and the Employee (Principal) to ensure the interests of the Employer (Bowheer / Obligee) that the Principal will fulfill its obligations in accordance with the agreement made between the Principal and the Obligee. If the Principal is in default, the Obligee can ask Surety to pay for the losses it has suffered.

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KINDS OF SURETY BOND AND BANK GUARANTEE

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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. Read more

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Performance bond

Surety Company and Principal's promise to provide compensation to the Obligee if the Principal does not fulfill its obligations in accordance with the provisions stipulated in the contract that has been signed between the Obligee and the Principal. Read more

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Advance payment Bond

Surety and Principal pledge to return down payment that has been received by Principal (in the form of work progress) in accordance with the provisions in the work contract. Read more

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Maintenance Bond

Surety and Principal promise to provide compensation to the Obligee if the Principal fails or does not fulfill its obligations to repair damage / shortage of work that may arise during the maintenance period, in accordance with the Maintenance Guarantee letter made by Surety to the Obligee.

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Payment Bond

Surety and Principal (Work Owner) promise to provide compensation to the Obligee (Contractor) if the Principal (Work Owner) fails or does not fulfill his obligation to make payments to the Obligee (Contractor) in connection with the work that has been done by the Contractor.

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