Legal Certainty of Surety Bond in Indonesia  

Oleh:

Wiston, Kenny

Jenis: Article from Journal - ilmiah nasional - tidak terakreditasi DIKTI
Dalam koleksi: Jurnal Hukum Bisnis vol. 19 (2002), page 83-88.
Topik: legal; legal certainty; surety bond

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ102.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

A surety bond or an obligation letter is a three - party agreement amongst the surety company (obligor), the project owner (obligee) and the principal (contractor). The surety guarantees the owner that the contractor will perform its duty according to the owner's order. Obligation is common in construction business in which the contractor may perform as the obligor to guarantee its sub contractor or supplier worked for its project. The surety bond is preferred method of guaranteeing the contractor's performance or financial to others. The surety bond includes pre - qualification of bid, working performance and payment of employee, sub contractor, supplier or maintenance. This article discusses a legal aspect of surety bond in indonesia especially in case of the contractor's faliure in performing its duty caused by insovency, therefore the contractor fails to fulfil the payment agreement with sub contractor, supplier or employee. Some rules subject to discuss in advance, before the surety bond is signed up.

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