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The Revolving Bank Guarantee agreement is essential for businesses operating in Indonesia that regularly require bank guarantees for their operations. It establishes a facility under which a bank will issue multiple guarantees up to a pre-approved limit, with the ability to reuse the limit as guarantees expire or are released. This arrangement is particularly useful for companies involved in ongoing projects, tenders, or trade activities that require regular submission of bank guarantees. The document must comply with Indonesian banking regulations and typically includes detailed provisions for guarantee issuance, claims procedures, fees, and security requirements. It's commonly used when a company needs to provide multiple guarantees to various beneficiaries over time without negotiating separate facility agreements for each guarantee.

1. Parties: Identification of the Bank (Guarantor), the Applicant (Principal), and the Beneficiary

2. Background: Context of the guarantee, underlying relationship between parties, and purpose of the revolving facility

3. Definitions: Definitions of key terms including Guarantee Amount, Validity Period, Revolving Facility, and other technical terms

4. Guarantee Facility: Details of the revolving guarantee facility, maximum limit, and terms of renewal

5. Issuance Process: Procedures for requesting and issuing individual guarantees under the facility

6. Fees and Charges: Bank's fees, charges, and commission for the guarantee facility

7. Revolving Mechanism: Process for recycling the guarantee limit and issuing new guarantees

8. Obligations of the Applicant: Principal's duties including payment obligations and maintaining collateral

9. Bank's Rights and Obligations: Bank's responsibilities and rights regarding guarantee issuance and payment

10. Claims and Payments: Process for making claims under the guarantee and payment procedures

11. Representations and Warranties: Standard declarations by the Applicant regarding their capacity and authority

12. Events of Default: Circumstances constituting default and consequences thereof

13. Governing Law and Jurisdiction: Application of Indonesian law and jurisdiction for disputes

14. Notices: Communication procedures between parties