Document background
The Bank Guarantee Cancellation Letter is a crucial document in Indonesian banking practice used when a party needs to formally request the termination of a bank guarantee. This document is typically required when the underlying contract obligations have been fulfilled, the guarantee has expired, or when the guaranteed project or transaction has been completed successfully. The letter must be drafted in compliance with Indonesian banking regulations, including Bank Indonesia and OJK requirements, and should include specific references to the original bank guarantee details, reason for cancellation, and any supporting documentation. The Bank Guarantee Cancellation Letter serves as a formal record of the request and helps ensure proper documentation of the cancellation process within the Indonesian banking system.
