An instrument to seize new opportunities with a guarantee that frees your money for two years.
Upon successful application or renewal of the work permit for foreign workers, the employer is required to submit the security deposit or cash deposit to MOM.
Security deposit or cash deposit can be replaced in the form of Foreign Worker Bonds (FWBs).
The bond will be realised if a foreign worker fails to fulfil the performance he is obliged to deliver for you.
Performance Bond
Eases your financial commitments, while freeing your money to explore new opportunities.
Helps to furnish the owner or principal or employer of a contract the guarantee for the contractor’s obligations when a contractor undertakes a construction project.
The amount guaranteed varies from 5% to 10% of the contract sum.