To apply temporary import permit, is it a must to lodge a Banker Guarantee with Customs?
Declaring Entities, or their appointed Declaring Agents, are required to furnish security for various scenarios, such as:
• Temporary importation of goods for approved purposes
• Movements involving dutiable goods not under temporary import
• Operation of licensed premises such as licensed warehouses and excise factories
• Compliance with the regulatory requirements of Singapore Customs
• Revenue protection purposes.
The amount of security required for a permit application is dependent on the movement type and goods type, Please click here for the amount of security required.
Security is not required for transactions where the security amount required for a permit application is S$2,000 or less. You may find more information in Customs Circular No. 19/2010.
Related questions
Do I need lodge a Banker Guarantee with Customs for importing wine and cigarette?
Do I need lodge a Banker Guarantee with Customs for transhipment of beer shipment?
What are the transactions where security (in the form of a Banker's Guarantee, Finance Company Guarantee or an Insurance Bond) is required?
Is it compulsory to submit security renewal?
