General Insurance
Surety Bond
Guarantee for risks due to failure of the work recipient to carry out its obligations in accordance with the contract and/or applicable regulations.
Start from
IDR 100.000/year
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How To Claim
Why Choose Us?
Financial Coverage
Strengthening Credibility
Investment Risk Reduction
Workmen's Compensation
Provide protection to company employees in the event of a work accident related to the employee's work.
Public Liability/ Comprehensive General Liability
Provides financial compensation suffered by other parties due to the negligence/mistake of the insured and/or people under the supervision of the insured for medical expenses at the hospital.
Product Liability
Providing compensation due to goods/services produced/offered by the insured experiencing failure/damage that causes other parties to suffer both financial and medical expenses in the hospital.
Directors and Officers Liability
Protects Commissioners, Directors, and Officers of the Company from risks incurred due to acts of misconduct committed while acting in their capacity in that position.
Other Information
Details you need to know
Guarantee for a risk in the form of an additional agreement to the main agreement/contract provided by the "Guarantor" (Surety), namely PT Asuransi Intra Asia, to the "Contractor" (Principal) for his ability to carry out his obligations in accordance with the provisions in the main agreement (Contract) made between the project owner (Obligee) and the Principal.
If the Principal does not carry out its obligations in accordance with the provisions of the contract, Surety will pay compensation to the Obligee in the maximum amount of the Guarantee Value.
An alternative guarantee from Bank Guarantee which is one of the requirements determined by the project owner or employer for tender participants, project implementers, down payment guarantees, and guarantees during the maintenance period of the ongoing or completed development project. Of course, it can also be used for procurement contracts.
Surety Bond: Bid Bond
1. Simas Bid Bond, which guarantees the Obligee if the Principal who has been declared the tender winner is unwilling to sign the contract or cannot submit the performance guarantee within the time period determined by the Obligee. Bid Bond Value: 1% - 3% of the Tender Value.
2. Performance Bond, which guarantees the Obligee if the Principal who has signed the work implementation contract, resigns or terminates the contract unilaterally or jointly by both parties, namely between the Obligee and the Principal. Performance Bond Value: 5% - 10% of the Contract Value.
3. Advance Payment Bond, which guarantees the Obligee if the Principal cannot return or calculate the down payment received at the beginning of the contract to the Obligee until the project is completed. Advance Payment Bond Value: maximum 30% of the Project Value.
4. Maintenance Bond, which guarantees the Obligee if the Principal does not carry out his obligation to repair damage that occurs after the work is completed in accordance with the provisions of the contract. Maintenance Bond Value: maximum 5% of Project Value.
Provide several documents including:
- Filling out the Application for Issuance of Guarantee (SPPJ).
- Company deed & deed of change of company profile along with business permits.
- Audited financial statements for the last 3 (three) years.
- Active bank statement (bank statement used for project transactions) for the last 3 (three) months.
- Copy of tender invitation (for tender guarantee applicants).
- Copy of tender winner appointment letter and work order or contract letter (for implementation guarantee applicants).
- Copy of contractor agreement or contract letter (for down payment guarantee applicants).
- Copy of work handover report 1 (for maintenance guarantee applicants).
- Compensation agreement letter that has been signed and legalized before a notary.