Non-Cash Credit Guarantee

Non-Cash Credit Guarantee

Is a guarantee between the insurance company (Surety) and the Principal to guarantee the interests of the project owner (Obligee) to fulfill obligations in accordance with the principal agreement (contract).

The types of Surety Bonds include:

  1. Contra Bank Guarantee

    Guarantees issued by the Surety company to the issuing bank if the obligee disburses the bank guarantee, due to the Principal’s default.

    Types of Counter Bank Guarantee Products:

    • Offer Guarantee (Bid Bond/BB)
    • Performance Bond/PB
    • Advance Payment Bond/APB
    • Maintenance Bond/MB
    • Balance of Objection to Appeal (SB)
    • Cargo Agency Guarantee
    • Payment Guarantee
    • Distributorship Guarantee
    • Guaranteed Payment of Remaining Budget/SP2D/Progress Payment
  2. Guarantee for Opening of Import Letter of Credit (LC) and Domestic Letter of Credit (SKBDN)