Under the new Employment Agency (EA) Regulatory Framework implemented in April 2011 by Ministry of Manpower, Employment agencies with a Comprehensive Licence will be required to furnish a security deposit of between $20,000 and $60,000. (See Below)
|No||Description||Security Deposit Requirement|
|1||All employment agencies with a Comprehensive Licence, unless they meet (2),(3) or (4) from this table||$60,000|
|2||Employment agencies that placed 200 or less Work Permit and S Pass holders in past 12 months||$40,000|
|3||Employment agencies that accumulated 3 or less demerit points in the past 12 months||$40,000|
|4||Employment agencies that meet both (2) and (3) from this table||$20,000|
We have designed a Package that not only assists you to fulfill the above requirement and also provide you and your staffs with a comprehensive coverage at competitive premium.
|Section||Description||Sum Guaranteed/Limit (S$)|
|1||Banker’s Guarantee||Package A – 20,000
Package B – 40,000
Package C – 60,000
|4||Work Injury Compensation||Work Injury Compensation
Please contact us for the premium quotation.