Guarantee

Product Information

A written guarantee issued by Danamon on behalf of Applicant to the Beneficiary. If Applicant fails to complete their contractual duties, the beneficiary can make a claim on the guarantee that has been issued by Danamon on behalf of the Applicant.

  • Bank Guarantee (BG) refers to Peraturan Otoritas Jasa Keuangan (POJK);
  • Standby Letter of Credit (SBLC) refers to International Standby Practices (ISP) or Uniform Customs and Practice for Documentary Credits (UCP);
  • Demand Guarantee (DG) refers to Uniform Rules for Demand Guarantees (URDG).

The following is a classification for the types of Bank Guarantees that can be issued:

  1. Project - where there are tendering, construction and maintenance activities. The relevant BGs are the Bid (Tender) Guarantee, Performance Guarantee and Maintenance/Retention Guarantee.
  2. Non-Project - BG that are relevant are Advance Payment Guarantee, Payment Guarantee, Financial Guarantee, Custom Guarantee and Shipping Guarantee.

Required Documents

  1. BG/SBLC/DG Issuance Form.
  2. Sales/Work Contracts or other documents underlying the transaction.

Benefit

  • Increase the Beneficiary's trust to work with you as an Applicant.
  • Obtain guarantee from Danamon as a condition for participating in a project tender (Bid Guarantee).
  • Obtain guarantee from  Danamon for your performance (Performance Guarantee)
  • Obtain guarantee from Danamon for payment from the Beneficiary (Maintenance Guarantee).
  • Obtain guarantee from Danamon for transactions with advance payments (Advance Payment Guarantee).
  • Obtain guarantee from Danamon for transaction with delivery of goods in advance (Payment Guarantee).
  • Obtain guarantee from Danamon for taking goods through customs inspection (Custom Guarantee).
  • Obtain guarantee from Danamon for the release of goods at the port without original transportation documents that have not yet presented (Shipping Guarantee).
  • Obtain guarantee from Danamon for financial facility/ loan (Financial Guarantee).
  • Obtain an unconditional guarantee from Danamon on performance of Applicant (specifically SBLC/DG).

Product and Service Information Summary
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