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The Bank Guarantee Letter is a crucial financial instrument in Indonesian business transactions, commonly used to secure various commercial and contractual obligations. It represents a bank's irrevocable commitment to pay a specified amount to a beneficiary if the principal defaults on their obligations. This document is particularly important in sectors such as construction, international trade, and government contracts, where it serves as a risk mitigation tool. Under Indonesian law, Bank Guarantee Letters must comply with Bank Indonesia regulations and the Financial Services Authority (OJK) requirements, including specific formatting, content, and authorization protocols. The document typically includes details of all parties involved, the guaranteed amount, validity period, claim procedures, and governing law declarations. It can be issued for various purposes including bid bonds, performance bonds, advance payment guarantees, and maintenance bonds.

1. Letter Header and Date: Bank's letterhead, reference number, and date of issuance

2. Beneficiary Details: Full name and address of the party receiving the guarantee

3. Guarantee Amount: Clear statement of the guaranteed sum in numbers and words, including currency

4. Underlying Transaction Reference: Details of the primary contract or obligation being guaranteed

5. Guarantee Terms: Specific conditions under which the guarantee can be called, including validity period

6. Claim Procedure: Process and requirements for making a claim under the guarantee

7. Governing Law Declaration: Statement that the guarantee is governed by Indonesian law

8. Bank's Authorization Statement: Declaration of bank's authority to issue the guarantee and binding commitment

9. Authorized Signatures: Space for bank officials' signatures with their names and positions