Payment Guarantee/Bond is a guarantee to the seller when the buyer does not make a payment of a number of values in the specified time according the contract exchanged between the seller and the buyer.

Types of Payment Guarantee/Bond

  1. Guarantee Of Payment Agent Of The Cargo;
  2. Payment Guarantee Remaining Budget (SP2D);
  3. Guarantee Distributorship;
  4. Guarantee Lack Collateral; and
  5. Other Payment Guarantees.

Payment Guarantee/Bond can be either a Surety Bond or Bank guarantee, as stated in the contract.