How to Lodge Security

How to Lodge Security

How to Lodge Security

You can lodge the guarantee in the form of a Banker’s Guarantee, Finance Company Guarantee or an Insurance Bond.

You are strongly encouraged to apply for the guarantee with any of the participating financial institutions on the eGuarantee@Gov programme. Please refer to eGuarantee@Gov for the full list of participating financial institutions.

When you lodge the guarantee via the eGuarantee@Gov programme, you would not need to collect the hardcopy guarantee from the bank and bring it to Singapore Customs. The financial institution will send it electronically to Singapore Customs, saving you time and courier costs.

With effect from 1 October 2023, Singapore Customs does not accept hardcopy guarantees and securities. eGuarantees will be mandatory for all securities issued to Singapore Customs. You may refer to Circular No: 17/2023.

1) For new applications

How to apply for eGuarantee
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".

You are required to approach any of the participating financial institutions listed here and provide the following information below, which is to be read against the guarantee template:

Field Name

Value/Description

1

Guarantee Template Reference Code

Please indicate [CUSTOMS_REG]

2

Case Reference no.

Please leave this field blank

3

Beneficiary Name

Please indicate [Customs]

4

Applicant Name

This refers to the name of the business required to lodge a security by Singapore Customs. Please indicate your entity's official business name registered with ACRA

5

Applicant reference no.

This refers to the official reference number of the business required to lodge a security with Singapore Customs. Please indicate your Entity's UEN no. e.g. 198812345A

6

Currency code

Please indicate [SGD]

7

Guarantee Sum

Please indicate in numbers the value of the security that you are lodging E.g. 10000.00

8

Guarantee Effective Date

Please indicate the effective start date of the security in the format DD/MM/YYYY E.g. 16/10/2022

9

Guarantee Expiry Date

Please indicate the expiry date of the security in the format DD/MM/YYYY E.g. 31/12/2022
Note: There will be a claim period of 90 days after the guarantee expiry date.

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.

Upon receipt of the security, Singapore Customs will register the security within three working days. Upon successful registration, we will send a notification by email to the primary contact (or the secondary contact should transmission to your primary contact fails) registered in your Customs Account. Please ensure that the particulars of the primary contact and secondary contact registered in your Customs Account are updated for them to receive the notifications.

  • 2) Extension of existing guarantees lodged with Singapore Customs

    For eGuarantees: If you had previously applied for an e-Banker’s Guarantee (eBG) under Singapore Customs’ Electronic Banker’s Guarantee Programme (BNPP, DBS, HSBC, OCBC and UOB), and wish to extend the validity of your eBG, you can similarly approach the bank that previously issued the eBG, to extend it through the eGuarantee@Gov programme. To extend, simply:

    1. Quote your existing Bank Guarantee reference
    2. Indicate the new expiry date
    3. Inform the bank that you wish to extend your guarantee under eGuarantee@Gov programme, with template reference “CUSTOMS_REG"

    Once the eGuarantee has been received and successfully registered by Singapore Customs, we will send an email notification to the primary and secondary contact registered in your entity’s Customs Account as per the current notification process.

    NOTE: The procedure above only applies for cases where you are amending the eGuarantee expiry date only. If you are amending the amount to be lodged, you will have to apply for a new guarantee.

    If you had previously applied for a hardcopy guarantee and wish to extend the validity, you will have to extend it as a hardcopy guarantee. You will NOT be able to extend it via the eGuarantee@Gov programme.

  • 3) Discharge of guarantees

    If you wish to apply for an early discharge of the eGuarantee, you may submit your request via the Customs Documentation Enquiry Form.

    Once we have confirmed that you do not have any outstanding matters with us, we will inform you of our decision and notify the financial institution on the discharge of their liability under the guarantee.