Surety Bond Agreements in The Scope of Insurance in Indonesia
Nadya Allyssia(1*), Zieta Zoya(2), Iwan Hot(3),
(1) University Padjajaran (2) University Padjajaran (3) University Padjajaran
(*) Corresponding Author
Abstract
Surety Bond is a form of guarantee that usually the obligee (the owner of the job/project) asks for a letter of guarantee or surety bond from the principal (contractor/contractor) with the intention of stating the principal's sincerity in carrying out his work according to the agreed contract/agreement. Surety bonds are guarantees that are indemnity / indemnity. In Indonesia, Surety Bonds are used to guarantee the implementation of various projects, the government has placed restrictions on what sectors can be guaranteed, namely projects related to the Presidential Decree No. 16/1994 on the State Budget Implementation Guidelines. This research is descriptive with a qualitative approach.
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