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eGuarantee@Gov

Experience seamless and faster processing of your guarantees

What is eGuarantee@Gov?

An industry-wide initiative with Ministry of Finance (MOF), Monetary Authority of Singapore (MAS) and Singapore Customs, digitizing the issuance of guarantees in favour of government agencies and statutory boards.

The eGuarantee@Gov system allows banks to issue and amend guarantees electronically, reducing the time and effort required for paper-based processing. No paper guarantee will be issued and your guarantees will be issued electronically by way of transmission of data sets via the Networked Trade Platform (NTP).

For more information, please visit: eGuarantee.gov.sg

Benefits

Faster lodgment process; Application and issuance process can be completed within a day

Enjoy cost saving benefits by removing the need for courier services

Going Digital; Paperless

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How Does eGuarantee@Gov Work?

1 – Submit eGuarantees template and Banker’s Guarantee (BG) application form to Standard Chartered Bank (SCB) (ensure that 1. Template reference code and 2. Case Reference Number are indicated in the “Applicant’s Ref” field of the BG application form)

2 – SCB will prepare and upload the eGuarantee data set onto NTP

3.1 & 3.2 – A notification will be sent to the SG government agency (BG beneficiary) on the data set being uploaded into the system. Applicant will be informed by transaction advice.

4 – Once the data set is approved by the beneficiary, the applicant will be notified by the respective government agencies on the next steps required