What are the transactions where security is required?
Declaring Entities, or their Declaring Agents, are required to furnish security for various scenarios, such as:
- Temporary importation of goods for approved purposes
- Movements involving dutiable goods not under temporary import
- Operation of licensed premises such as licensed warehouses and excise factories
- Compliance with the regulatory requirements of Singapore Customs
- Revenue protection purposes.
You may refer to the Customs website for more information.
Related questions
What are the transactions where security (in the form of a Banker's Guarantee, Finance Company Guarantee or an Insurance Bond) is required?
Is it compulsory to submit security renewal?
To apply temporary import permit, is it a must to lodge a Banker Guarantee with Customs?
Do I need lodge a Banker Guarantee with Customs for importing wine and cigarette?
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