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If I submit a new banker's guarantee (BG) when renewing my EA licence, what will happen to my existing BG?

Updated by MOM

Your existing banker’s guarantee will be discharged, and the discharge letter will be sent to you 1 month after the current employment agency (EA) licence expires.

This information is sourced from MOM.

Topics:

Employment agenciesEmployment agencies

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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?

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