What items do I need to prepare and payments to make if I am successful in my tender?
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The items to prepare will be indicated in the Letter of Acceptance. Specifically:
- A security deposit of at least three (3) months of the tendered monthly rental is payable within 28 days after the date of the Letter of Acceptance in the form of a cashier's order, money order, banker's guarantee, or Insurance Performance Bond/ Guarantee issued by MAS-approved insurance companies.. We may increase the security deposit quantum up to a maximum of six (6) months of rent.
- Fire insurance policy for the quantum and period stated in the Tender Documents.
- GST payment of the first payable month's rent in the form of a cashier's order, money order, or cheque made in favour of the Commissioner of Lands, SLA
- a Certificate of Stamp Duty issued by the Inland Revenue Authority of Singapore (IRAS) for the original Tenancy Agreement
- ACRA's Registration of Companies Certificate
- Duly completed GIRO and Direct Credit Authorisation Forms
Additional Info:
If you encounter problems procuring Fire Insurance Policies that cover more than a year continuously, you now have the option to get them on a yearly renewal basis.
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