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?
First-time customs permit applicants have to compute and lodge the amount of security required directly.
Singapore Customs will not issue a letter requesting for such security matters.
For first-time security lodgement for the operation of licensed premises and other purposes, Singapore Customs will send your entity a letter to inform you of the amount of security required. Please ensure that your particulars in your Customs Account are updated.
For the renewal of security lodgement, Singapore Customs will send you a letter two months before the expiry date of your entity's existing security to inform you to renew your security. As your entity's Primary Contact (or the Secondary Contact should transmission to your Primary Contact fails) registered in your�Customs Account�will receive this letter via email, please ensure that their particulars are updated.
Related questions
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?
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?
I am required to lodge security for my permit applications and for the operation of licensed premises. How should I lodge the required security?
Is it compulsory to submit security renewal?
