Express Banker’s Guarantee

  • express-banker-guaranteesexpress-banker-guarantees

    Enjoy S$100 fee waiver when you apply for
    UOB Express Banker's Guarantee

    Apply now

Overview

Fast, simple and convenient, UOB Express Banker's Guarantee (BG) allows you to apply for a BG online, against 100% cash margin. Apply for it on an ad hoc basis any time and receive approval for your bank guarantee application in as soon as 3 working days.

  Description
Types of guarantee available Common types of Banker’s Guarantees:
  • Bid Bond
  • Performance Bond
  • Warranty Bond
  • Advance Payment Guarantee
  • Financial Guarantee
Commission Charges
  • 1.5% p.a. or S$200 (whichever is higher)
  • S$100 off fees
Courier Charges
  • S$10 (Local courier)
  • Overseas courier charges are subject to arrangements
SWIFT Charges
Lengthy Cable
  • S$30
  • S$50 for 2 pages (For SWIFT message exceeding 2 pages, an extra charge of S$50 per additional page will be imposed)
Non-Standard Text Fee
  • S$100 flat
    (this charge is in addition to Commission charge)
Amendment Fees
  • Amount 1% p.a. min S$150
  • Tenor: 1% p.a. min S$150
  • Other Amendment: S$75 Flat
Collaterals
  • Cash Margins
Eligibility
  • Singapore Registered Companies
  • No existing banker's guarantee facilities with UOB*
  • Corporate current account with UOB#

*If you have any existing credit facilities with us, please contact your Relationship Manager, or apply for BG online via Business Internet Banking Plus (BIBPlus).

#Customers without Corporate current account will be engaged by our officer for set-up prior to application

How to Apply

Step 1

Step 1

Start by taking 5 minutes to complete the Online BG Application Form.

Step 2

Step 2

Download and sign both the completed application form and the submitted BG format, and email to OnlineBG@UOBgroup.com

Step 3

Step 3

When the application has been approved, depending on the chosen mode of delivery, you will either be informed to collect the BG or it will be sent to you.

Apply Now

Apply Online

Call Us

Call us at 6259 8188 for any queries.

FAQ

A Banker’s Guarantee (BG) is a definite undertaking by the bank (guarantor) to pay the beneficiary a certain sum of money within a specified period if the applicant (principal) fails to fulfill his contractual or other obligations of an underlying transaction. It is normally used to secure either a financial or performance obligation of the principal.

BG is normally used to secure either a financial or performance obligation of the principal and provides the beneficiary with a payment undertaking from UOB (guarantor) by issuing them a BG. UOB will pay your beneficiary upon receipt of a demand under the BG.

UOB Express Banker’s Guarantee (UOB Express BG) allows customers to apply for BGs on an adhoc basis against 100% cash margin without the need for BG facilities or UOB Internet Banking Plus (BIBPlus) subscription. However, customers must have a UOB current account to facilitate debit of the cash margin amount.

Fast, simple and convenient, UOB Express BG allows customers to fill in the application online and there is no need to fill in a paper form.

UOB Express BG is available to customers who have a Corporate current account with UOB and do not have an existing BG facility with the Bank.

The BG can be issued as soon as 3 working days if required documents are submitted and in order.

BG amount and tenor will be subject to the cash margin placed with the Bank, and are both subject to the Bank’s approval.

Yes, subject to arrangement and the Bank’s approval. Additional charges for BG issuance to overseas beneficiaries, if any, may be applicable.

No, BG will be issued against 100% cash margin which will be debited from the Corporate current account as instructed.

A BG can only be cancelled upon beneficiary’s consent and written instruction, together with the original BG returned to the Bank.