Following the successful application / renewal of work permit for your foreign workers, the Immigration Department would require you, the Employer to:
Submit a security deposit of S$5,000.00 per worker. This can be in the form of an Insurance Bond. The period of Bond is normally 26 months.
Once the application is approved, the insurance company usually requires a counter guarantee to be executed by the Employer and / or personal guarantors as per underwriting terms agreed.
Typically, the original counter guaranteed letter (indemnity form) need to be signed and submitted every time before the bond is issued to you. This process can always be tedious and time consuming.
We are here to help!
We provide the Immigration Bonds for all classes of foreign workers from China, India, Bangladesh, Thailand, Sri Lanka, Indonesia, Philippines etc sources approved by the Ministry of Manpower. Our advantages are:
- We offer the most competitive premium
- Efficient Online Transmission, within two working days, we can help you transmit the bond to MOM electronically.
- We offer master indemnity, so you don't have to sign indemnity form for every worker. This reduces your administrative work drastically.
With us at your service, you can concentrate on your own business.
Sourcing for an insurance quotation can be tedious and time consuming; the claim process can become pro-longed and complicated. We provide one stop services for you to handle these and offer the most competitive quotation.
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Last Updated on Thursday, 30 June 2011 11:17
