What is the procedure to lodge the required security (in the form of a Banker's Guarantee, Finance Company Guarantee or an Insurance Bond)?
If you wish to lodge a new security, you are required to lodge a guarantee via the eGuarantee@Gov programme. The financial institution will send it electronically to Singapore Customs. The template for the guarantee that you are required to lodge can be found on the eGuarantee@Gov website. You may refer to the template S/N 11 titled, "CUSTOMS_REG".
Once the eGuarantee has been received and successfully registered by Singapore Customs, the primary and secondary contact registered in your entity's Customs Account will receive an email notifying that the eGuarantee has been successfully registered.
Please ensure that the particulars of your Primary Contact and other personnel registered in your entity's Customs Account are updated for them to receive notifications promptly. To do so, the Key Personnel (KP) whose record is registered with the Accounting and Corporate Regulatory Authority (ACRA) or relevant Unique Entity Number (UEN) Issuance Agency, or an Authorised Personnel (AP) authorised by the KP of the entity, will need to log in using his/her Corppass to the Customs Account e-Service.
Related questions
I am required to lodge security for my permit applications and for the operation of licensed premises. How should I lodge the required security?
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?
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?
What are the transactions where security (in the form of a Banker's Guarantee, Finance Company Guarantee or an Insurance Bond) is required?
