Guarantees – Standby LC, Demand Guarantee and Bank Garansi

Each guarantees have different nature and characteristics even for arrangements that have been agreed and recognized internationally, they still have differences in terms of different applicable law in each countries. Indonesia itself has its own provisions regarding this matter which aims to accommodate the needs where all parties involved in the transaction are domiciled in Indonesia. Understanding each difference becomes important for the parties involved in guarantee transactions, in order to avoid bad drafting or practices. This course will reveal the differences between the guarantee products that are often used in Indonesia which is Standby LC, Demand Guarantee and Bank Garansi; and the perspective will always be seen from those sides.