Types and Benefits of Bank Guarantees

Types and Benefits of Bank Guarantees

Types of bank guarantees and benefits are basically in accordance with the type and function of agreements guarantee bank guarantee in the agreement. some types of existing bank guarantees, among others:

1. Bank guarantee purchases
bank guarantees given to the supplier / manufacturer as a guarantee of payment for the purchase of goods by the customer or guaranteed by the bank.

2. Bank guarantees tobacco excise ribbon
given to the customs office as a guarantee of payment of tobacco customs tape on cigarettes sold by the cigarette manufacturers.

3. Bank guarantees suspension of import duties
given to the customs office as a guarantee of payment of import duty on goods released from the port's customers.

4. Bank guarantees tender
given to the project owner for the benefit of contractors or suppliers who will participate in a tender for a project.

5. Bank guarantees implementation
given to the project owner for the benefit of the contractor or supplier to ensure the implementation of work / projects by contractors.

6. Bank deposit guarantee
given to the project owner for the benefit of the contractor or supplier of cash advances received by the contractor.

7. Bank guarantees maintenance
given to the project owner for the benefit of the contractor or supplier to ensure the maintenance of the project has been completed by the contractor.