I received Customs Banker's Guarantee (BG) renewal letter. However, my entity did not lodge any security with Customs. What should I do with the letter?

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Accepted Answer

Your entity has received the security/BG renewal letter as your entity has an existing security lodgement or waiver that is expiring.

If your entity wishes to continue the transactions with Singapore Customs that require a security, your entity should lodge a security with the appropriate value that would meet its operational needs.

More information on security requirements and procedures can be found on Singapore Customs website.

I received Customs Banker's Guarantee (BG) renewal letter. However, my entity did not lodge any security with Customs. What should I do with the letter?

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