Commercial

Employment Agency Insurance Bond

$0.00

Under the new Employment Agency (EA) Regulatory Framework implemented in April 2011 by Ministry of Manpower, Employment agencies with a Comprehensive or Select License will be required to furnish a security deposit of between $20,000 and $60,000. (See Below)

We have designed multiple comprehensive packages to meet regulatory requirements with the lowest market rates for your business needs.

We understand Insurance Solutions

No	Description	Security Deposit Requirement
1	All CL EAs within first year of operation.	$60,000
2	Has 3 or fewer demerit points in the past 12 months. Placed 200 or more Work Permit and S Pass holders in past 12 months.	$40,000
3	Has more than 3 demerit points in the past 12 months. Placed fewer than 200 Work Permit and S Pass holders in past 12 months.	$40,000
4	Has 3 or fewer demerit points in the past 12 months. Placed fewer than 200 Work Permit and S Pass holders in past 12 months.	$20,000
5	Has more than 3 demerit points in the past 12 months. Placed 200 or more Work Permit and S Pass holders in past 12 months.	$60,000
6	Has 8 or more demerit points in the past 12 months, regardless of the number of foreign placements.	$60,000

Section	Description	Sum Guaranteed/Limit (S$)
1	Banker’s Guarantee	A – 20,000 B – 40,000 C – 60,000
2	Personal Accident (Optional)	10,000
3	Medical Coverage (Optional)	5,000