In general, ABI’s Surety Bond Insurance products consist of Surety for Construction works and Supply Bond for Non-Construction works where guarantee is given on a Principal’s ability to complete construction works according to contract, where in the case of Principal’s inability to deliver, surety coy will be paying penalties to the obligee.

Custom Bond
Assurance is given to the obligee, where in this case is the customs. Surety Coy will cover losses caused by the principal’s inability to fulfill it’s duty to the customs.

Types of Custom Bond

1. KITE ( Kemudahan Impor Tujuan Ekspor ) :a facility for exporters’ products through suspension of payment of import duties etc. until the producer exports products originating from imported raw materials.
2. Facility OB 23 (Tax Ordinance) withholding payments for temporary import .
3. Voorruitslag facility is a deferral of payment of customs fees, according to customs and excise approval.
4. “Kaber / Epte” facility or suspension of customs payments because imported goods are still in the location of the bonded zone.
5. Note or Correction Note is a postponement of customs payment on the existence of SPKBM from customs.
6. PPJK is a guarantee for customs service management companies that operate at customs locations.

Bank Guarantee
Providing guarantee services to banks that issue Bank Guarantees for Construction or Supply Bonds, recommended by ABI Insurance against the possibility of Bank losses due to the disbursement of Bank Guarantees by Obligees, because of guaranteed principals are unable to fulfill their obligations in accordance with the contract.