Why eGuarantee@Gov?
eGuarantee@Gov digitalises the end-to-end guarantee process, allowing for swift issuance, seamless processing, and cost savings.
Last updated 26 August 2026
What are Guarantees?
A banker’s guarantee or insurance bond (collectively, a "guarantee") is issued by a Financial Institution as an undertaking that a business or individual will fulfil their contractual or licensing obligations.
What Government Agencies use guarantees for
Tender and security deposits for procurement, revenue and land sales contracts; and
Licensing/regulatory requirements (e.g. work passes, employment agency licenses, dog licenses and GST registration).
Why eGuarantee@Gov?
Previously, Applicants purchased banker's guarantee or insurance bond from a Financial Institution and submitted the physical document to a Beneficiary (Government Agency or School).
From 1 April 2025, it is mandatory for Applicants participating in new Government Agency tenders or applying for licences requiring guarantees to submit eGuarantees instead of paper guarantees. eGuarantee@Gov digitises the end-to-end process, enabling Applicants, Financial Institutions and Beneficiaries to reap time and cost savings.
Benefits:
Swift - Fast issuance process, usually less than 1 day (subject to other bank conditions such as credit limit).
Seamless - eGuarantees are lodged and discharged via Customs eServices platform (See diagram below); and
Savings - No need for courier charges and costs for physical storage of paper guarantees.
