Surety Bond
Benefits of Surety Bond
For Principal
Principal can get Suretyship insurance quickly, easily, with relatively cheap rate. Collateral is not the main requirement to get the insurance
For Obligee
- Easy disbursement if the Principal is default.
- Suretyship/insurance from Askrindo assures Obligee that the project that the Obligee manages/owns will be executed and finished in accordance with the agreed contract.
Choose Askrindo Insurance Products According to Your Business Needs
Multifunctional Loan Insurance
- Providing loan coverage for individual/micro entrepreneur/small entrepreneur/retail to get loan from bank/non-bank financial institution/non-financial institution, which do not meet bank’s technical requirements (non-bankable) yet feasible for loan.
Trade Loan Insurance
- Providing coverage for factories/distributors due to the buyer’s default of trade loans in accordance with the trade contract between factory/distributor and the buyer due to bankruptcy or default
Surety Bond
- Providing insurance to the Obligee for default that is caused by the Contractor’s (Principal) incompliance upon a project (construction/non-construction) for a term that had been specified in the contract.
Bank Counter Guarantee
- Providing insurance in form of counter guarantee upon guarantee bank facility that is issued by the Bank for Principal when Principal suffers from default in the project’s execution.
Customs Bond
- Providing insurance to the Directorate General of Customs and Excise for the risk of default by the exporter/importer upon the customs facility, hold/release of imported goods and other State excises.
