How does Singapore Customs determine the amount of security (in the form of a Banker's Guarantee, Finance Company Guarantee or an Insurance Bond) that my entity has to lodge?
The amount of security that your entity is recommended to lodge is based on your entity's transactions with Singapore Customs requiring security and its compliance records.
For more information on the security amount required for permit applications, please refer to the Customs website.
Related questions
My entity has lodged a security (in the form of a Banker's Guarantee, Finance Company Guarantee or an Insurance Bond) with Singapore Customs this year but was not required to do so next year. Why is it so?
Do I need lodge a Banker Guarantee with Customs for transhipment of beer shipment?
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My entity is lodging security for our transaction(s) with Singapore Customs. The finance company requested for a letter regarding the lodgement request. What should I do?
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