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  >    >  Sureties and Guarantees (Bonds)  >  Advanced Payment Bond

Advanced Payment Bond

$100.00

Guarantees that the advance payment will be returned to the buyer if the seller does not fulfil its obligations on delivery of goods or services. It is also required when a Contractor applies for an advance payment from the Principal to help fund the preliminary costs and mobilisation works of the contract.

Documents Required

  • Letter of Award / Project Contract / Agreement / Purchase Order
  • Latest ACRA Bizfile (within 3 months)
  • Latest Audited Financials
  • Bond Format (if any)

Applicable to

  • Contractors
  • Suppliers
  • Manufacturers

Case Study
ABC Construction is awarded a highway contract for $300 million by XYZ Government. Due to the high setup costs, XYZ Government agrees to pay $60 million (20%) upfront to ABC Construction where funds are to be deducted once certain contract milestones are completed. In return, ABC Construction will need to provide a bond of $60 million to XYZ Government.
Find a Broker
For more information on Advanced Payment Bond, please contact us at:

Name : Hellen Sim
Contact : +65 6922 7268
Email : hellensim@awginsurance.com

SKU: SG-02 Category:
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Product Description

Guarantees that the advance payment will be returned to the buyer if the seller does not fulfil its obligations on delivery of goods or services. It is also required when a Contractor applies for an advance payment from the Principal to help fund the preliminary costs and mobilisation works of the contract.

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