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Product Information

Description

1

Product Name

Bank Guarantee

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Types of Products

Others Services

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Issuer Name

Bank SBI Indonesia

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Main Feature

Bid/tender Bond is the Bank guarantee that guarantees tender bond from the possibility of suffering a loss if the selected bidder is unable to meet its obligations or resigns.

Advance Payment Bond is a Bank Guarantee that guarantees the recipient of the bank guarantee (beneficiary) from losses on the down payment that has been paid to the applicant if the applicant does not fulfill its obligations as agreed.

Performance Bond is the Bank guarantee that guarantees the beneficiary from the possibility of suffering a loss if the appointed applicant does not meet its obligations according the agreement.

Payment Bond is the Bank guarantee that guarantee the employer/buyer to make payment towards worker/seller as a beneficiary if the beneficiary of the worker/seller has completed the appropriate obligations as per agreement.

Retention Bond is the Bank guarantee that guarantee the beneficiary from the possibility of suffering losses on the cash that should have not been paid (according to the contract) but has been paid in advance to the applicant.

Maintenance Bond is a type of Performance Bond that used to guarantee the beneficiary from the maintenance failure that is not in accordance with the maintenance agreement in the contract.

Custom Guarantee is the Bank guarantee that guarantee the Directorate General of customs and Excise over the suspension of the payment of import duties and other import taxes, namely to: (i) imported goods that will be re-exported, (ii) imported goods that are necessary for example and the exhibition, (iii) imported goods that will receive the Government exemption, import duties, import taxes, and etc.

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Benefits

Bank guarantee is a guarantee issued by Bank which resulting an obligation to pay towards the beneficiary of the assurance if the guaranteed party is in default.

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Risk

Misuse of Bank Guarantees provided by the Bank to the Customer

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Requirements & Procedures

The customer fills out and signs the Account Opening Application Form for Bank Guarantee and Customer owns saving account or current  account and follows the terms & conditions applicable at Bank SBI Indonesia and submits Photocopies of KTP/Passport/SIM for Indonesian citizens and KITAS for foreigners,  NPWP, and the legality of the company. You can submit questions and complaints through the nearest Branch Office and contact the Call Center number listed.

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Charges

Issuance

• Commission       0,5%  P.Q.

• Admin Charges  USD 50,00           

• Stamp Duty (If any) USD 50,00   

• SWIFT (for Counter Guarantee) USD 50,00

Amendment

• Commission       0,5% P.Q.

• SWIFT (for Counter Guarantee) USD 50,00

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Additional Information

Individual & Corporate Customers

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Simulations and/or historical data, in terms of products and/or services that have funding , lending activities and/or fund management

N/A