{"id":4046,"date":"2022-02-21T17:10:44","date_gmt":"2022-02-21T10:10:44","guid":{"rendered":"http:\/\/ligaasuransi.com\/en\/?p=4046"},"modified":"2024-08-09T13:55:59","modified_gmt":"2024-08-09T06:55:59","slug":"inilah-yang-perlu-anda-ketahui-tentang-jaminan-counter-bank","status":"publish","type":"post","link":"https:\/\/ligaasuransi.com\/en\/inilah-yang-perlu-anda-ketahui-tentang-jaminan-counter-bank\/","title":{"rendered":"Here’s What You Need to Know About Counter Bank Guarantees"},"content":{"rendered":"

Liga Asuransi<\/a> – Dear readers, how are you? Let’s continue our lesson regarding Counter Bank Guarantees.<\/span><\/p>\n

For your information, the demand for counter bank guarantees in Indonesia is currently getting higher in line with cost efficient programs and simpler processes needed by contractors.<\/span><\/p>\n

Contra bank guarantee<\/a> is a derivative product of Surety Bond. Contra Bank Guarantee is Proof of Guarantee on Bank Guarantee issued by the Bank for the benefit of the “Contractor” or also knowns as (Principal) in fulfilling its obligations in accordance with the provisions of the “Owner of Work” (Oblige) principal agreement with the Principal, and if the Principal does not carry out his obligations in accordance with the provisions of the contract, then insurance provider (Surety) will pay 100% to the Bank on the claim of the Bank Guarantee submitted by oblige or project owner.<\/span><\/p>\n

Furthermore, Surety reserves the right to demand reimbursement for the disbursement of The Contra Bank Guarantee by the Bank due to the Bank Guarantee provided by oblige or project owner.<\/span><\/p>\n

The contra bank guarantee is intended to make it easy for the principal to meet any of the Conditions specified by the Project Owner or Employer for The Tender, performance Project, Advance Guarantee, Guarantee In a Maintenance of The Development Project that is being or has been completed, the Procurement Contract of Goods \/ Services, with more competitive costs and requirements compared to Banking.<\/span><\/p>\n

Counter Bank Guarantee VS Bank Guarantee<\/b><\/p>\n

In terms of shape and function there is no difference between a counter bank guarantee and a bank guarantee. Both are issued by banks.<\/span><\/p>\n

The difference is in terms of cash flow and guarantees. The bank guarantee is usually issued by the bank and you as the principal (contractors) are required to provide funds of the required security value. The funds are held in the form of deposits during the security period. Or as a substitute it can also be in the form of fixed assets in the form of land certificates or vehicle BPKB.<\/span><\/p>\n

While for contra bank guarantee the funds withheld are not your funds, but insurance company\u2019s funds or guarantees from insurance companies to banks. Thus, you do not have to keep your funds in the bank during the life of the project. Even if there are only a few. So, in terms of cash flow you will be greatly helped.<\/span><\/p>\n

Types of counter bank guarantees issued includes:<\/span><\/p>\n

    \n
  1. Bid Bond \/ Tender Bond<\/span><\/li>\n
  2. Performance Bond<\/span><\/li>\n
  3. Advance Payment Bond<\/span><\/li>\n
  4. Maintenance Bond<\/span><\/li>\n<\/ol>\n

    Information required for the issuance of Counter Bank Guarantee\u00a0<\/b><\/p>\n

      \n
    1. Completing application form counter bank guarantee while including documents:<\/span><\/li>\n<\/ol>\n