A written guarantee issued by Bank Muamalat on behalf of Applicant to the Beneficiary. If Applicant fails to complete their contractual duties, the beneficiary can make a claim on the guarantee that has been issued by Bank Muamalat on behalf of the Applicant

1. Bank Guarantee (BG) refers to Peraturan Otoritas Jasa Keuangan (POJK);
2. Standby Letter of Credit (SBLC) refers to International Standby Practices (ISP) or Uniform Customs and Practice for Documentary Credits (UCP);
3. Demand Guarantee (DG) refers to Uniform Rules for Demand Guarantees (URDG).

The following is a classification for the types of Bank Guarantees that can be issued :

1. Project - where there are tendering, construction and maintenance activities. The relevant BGs are the Bid (Tender) Guarantee, Performance Guarantee and Maintenance/Retention Guarantee.
2. Non-Project - BG that are relevant are Advance Payment Guarantee, Payment Guarantee, Financial Guarantee, Custom Guarantee and Shipping Guarantee.

Terms and Condition

1. Has submitted collateral and has has an active current account with Bank Muamalat
2. Has completed and signed the application and agreement document for the issuance of a Bank Guarantee
3. Has provided the funds required for the payment of the service fee (ujroh)
4. The sales contract, work contract, or other supporting documents underlying the transaction

Benefits

• Increase the Beneficiary's trust to work with you as an Applicant
• The Guarantee issuance process in compliance with the Sharia Principles
• Obtaining a guarantee from Bank Muamalat as a requirement to obtain a Umrah pilgrimage departure permit (PPIU)
• Obtaining a guarantee from Bank Muamalat as a requirement to obtain a Hajj pilgrimage departure permit (PIHK)
• Obtain guarantee from Bank Muamalat as a condition for participating in a project tender (Bid Guarantee).
• Obtain guarantee from  Bank Muamalat for your performance (Performance Guarantee)
• Obtain guarantee from Bank Muamalat for payment from the Beneficiary (Maintenance Guarantee).
• Obtain guarantee from Bank Muamalat for transactions with advance payments (Advance Payment Guarantee).
• Obtain guarantee from Bank Muamalat for transaction with delivery of goods in advance (Payment Guarantee).
• Obtain guarantee from Bank Muamalat for taking goods through customs inspection (Custom Guarantee).
• Obtain an unconditional guarantee from Bank Muamalat on performance of Applicant (specifically SBLC/DG).

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