bankers-guarantee

Banker’s Guarantee / Standby Letter of Credit

Provide assurance and peace of mind to your beneficiaries

Banker’s Guarantee / Standby Letter of Credit

Provide assurance and peace of mind to your beneficiaries

    At a Glance
    Reassure your buyers or sellers of payment no matter what happens.

    An independent undertaking

    Banker’s Guarantees are independent undertakings which help to mitigate payment risks for the beneficiary
    Submit your application through any DBS or POSB branch, or DBS IDEAL

    Added assurance

    We will pay to your beneficiaries upon receipt of a claim that complies with the terms of the guarantee

    Easy collection

    Pick up your banker’s guarantee from any of our Trade Document Counters and DBS collection branches

    Features
    • Payment Guarantee – This protects the beneficiary in the event that the applicant fails to honour the payment under their contract
    • Bid Bond – This enables the applicant (bidder) to use DBS’ credit to support the bid, and can also be used to insure the successful bidder that the contract will be met
    • Performance Bond – Some bidding contracts require the successful bidder to provide a performance guarantee to protect against a default
    • Financial Guarantee – This helps the applicant’s overseas subsidiaries obtain financing or credit facilities from banks
    • Guarantees are subject to Indonesian Law, URDG ICC pub. 758, UCP 600, or ISP 98
    How it Works

     

    FAQs
    How long does it take to process a Banker’s Guarantee/Standby Letter of Credit?

    We can process your Banker’s Guarantee/Standby Letter of Credit within sameday, provided the application and credit limit are in place.
    How do I complete the Banker’s Guarantee/Standby Letter of Credit application form?

    Please refer to the comprehensive explanatory notes or call our DBS Indonesia Customer Centre at 1500 327 or 69 327 (if using a mobile phone) for more information.
    Where do I find a Banker’s Guarantee/Standby Letter of Credit format?

    The format is usually provided by the issuing bank or the beneficiary of the Banker’s Guarantee/Standby Letter of Credit.
    Where do I collect my Banker’s Guarantee/Standby Letter of Credit?

    You may collect it from our Trade Document Counters.
    Get in Touch
    Contact DBS BusinessCare

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