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The LC Bank Guarantee is a crucial financial instrument in Indonesian business transactions, particularly in international trade and large commercial deals. This document is typically used when parties require both the payment security of a letter of credit and the performance assurance of a bank guarantee. It's governed by Indonesian banking laws and regulations, including Law No. 7 of 1992 (as amended) and relevant Bank Indonesia regulations, while also following international banking standards. The document specifies the conditions for payment, validity period, claim procedures, and obligations of all parties involved. It's commonly used in import/export transactions, large procurement contracts, or when dealing with substantial commercial undertakings where both payment and performance guarantees are required. The LC Bank Guarantee provides a robust framework for risk mitigation while ensuring compliance with both Indonesian and international banking practices.

1. Bank's Reference Number: Unique identifier for the bank guarantee

2. Date and Place of Issue: When and where the bank guarantee is issued

3. Beneficiary Details: Full name and address of the party in whose favor the guarantee is issued

4. Applicant Details: Full name and address of the party requesting the bank guarantee

5. Guarantee Amount: The maximum amount of the guarantee, both in figures and words

6. Underlying Transaction: Reference to the underlying commercial transaction or tender

7. Purpose of Guarantee: Clear statement of what the guarantee covers

8. Terms and Conditions: Core conditions for claim, validity, and enforcement of the guarantee

9. Expiry Details: Validity period and expiry conditions of the guarantee

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

11. Governing Law and Jurisdiction: Specification of Indonesian law and relevant jurisdiction