Can our entity replace our existing security in the form of a Bankers' Guarantee to another form such as a Finance Company Guarantee or an Insurance Bond or other permutations?
You may do so, provided the existing security is still valid. To do so, you can write to us here to request for the withdrawal of the existing security and to lodge a new security via the eGuarantee@Gov programme. Upon lodgement of the new security, Customs will return the original security once Customs has confirmed that the entity does not have any outstanding payments owed to Customs.
Related questions
How do I inform Customs if my entity wishes to lower the security that was previously lodged with Singapore Customs?
My entity wishes to withdraw the security lodged with Singapore Customs. How do we go about doing so?
I received a letter from Customs on the renewal of Banker's Guarantee (BG) and I realised my entity never lodged any security with Customs before. What should I do with the letter?
What is the procedure to lodge the required security (in the form of a Banker's Guarantee, Finance Company Guarantee or an Insurance Bond)?
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