Surety Bond

Surety Bond is a three-party agreement between the Surety (First Party) on the basis of his conviction to the Principal (Second Party) jointly pledged to the Obligee (Third Party).

Bid Bond

 
Surety  Bond  issued by Jamkrida Jabar to ensure the Obligee that the Principal Bid Bond holders have fulfilled the requirements determined by the Obligee to participate in the auction and if Principal win the auction it will be able to cover the Contract of Work Implementation by the Obligee. If not then Surety Company will pay to the Obligee loss equal to the difference between the lowest deals with Principal next lowest maximum value of the collateral.

 

 

 

 

 

Performance Bond

 
Surety Bond issued by Jamkrida Jabar to ensure the Obligee that the principal will be able to complete the work provided by the Obligee in accordance with the provisions agreed in the employment contract. If the Principal does not carry out its obligations in accordance with the Contract Surety Company will indemnify the Obligee maximum amount of the guarantee.

Advance Payment Bond

Surety Bond issued by Jamkrida Jabar to ensure the Obligee that the Principal will be able to return the advance payment it has received from the Obligee in accordance with the provisions agreed in the contract, with a view to accelerate project financing.