UOB Banker’s Guarantee

UOB Banker’s Guarantee

Learn more about Banker's Guarantees (BG), and the documents required to apply for a UOB Banker's Guarantee.

UOB Banker’s Guarantee

What is a Banker's Guarantee?
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A Banker's Guarantee is a definite undertaking by a bank (as guarantor) to pay the beneficiary of the BG, a certain sum of money within a specified period, if the applicant of the BG (as principal) fails to fulfil his/her obligations under the underlying transaction of the BG (contractual or otherwise).

As issuing bank of the UOB Banker’s Guarantee, UOB undertakes to pay your beneficiary upon receipt of a demand from them which is compliant with the terms of the UOB Banker’s Guarantee.

You and the joint applicant (if any) will need to physically present all the required documents for a UOB Banker’s Guarantee application at any UOB branch.

  • A copy of your and the joint applicant’s (if any) NRIC
  • A physical copy of the duly completed Banker’s Guarantee Application Form
  • A copy of a banker’s guarantee format
  • A Singapore Dollar Fixed Deposit of the same amount as the UOB Banker’s Guarantee applied for, to be placed with UOB Singapore for the required period with an auto-renewal maturity instruction.
  • For details on the placement of a Fixed Deposit with UOB Singapore, please refer to Singapore Dollar Fixed Deposit
  • The amount of the Banker’s Guarantee applied for, must be at least S$5,000.
  • Approval of the issuance of the Banker’s Guarantee (including but not limited to the acceptability of the banker’s guarantee format submitted) will be subject to UOB’s discretion.

Please refer to https://www.uob.com.sg/business/help-support/rates-fees/trade-finance-services.page for the fees & charges1 payable in relation to the Banker’s Guarantee.

1A minimum charge of S$150 applies. Other applicable charges may also apply.