SURETIES & GUARANTEES
Qualifying Certificate Bond
Acts as an assurance that properties developed will be sold within the stipulated timeframe. Typically secured by the developer and favoring the Singapore Land Authority (SLA), this bond underscores the commitment to timely property transactions, ensuring compliance with regulatory requirements.
APPLICATION
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Additional Information
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Enhanced Coverage
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Documents Required
SLA Letter
Latest ACRA Bizfile (within 3 months)
Latest Audited Financials
Bond Format (if any)
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Applicable To
Property Developers
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Case Study
ABC Development Ltd, a listed company in Singapore, bought a private residential land in Singapore for $100 million. Singapore Land Authority requires them to provide a guarantee of $10 million to ensure that the properties developed will be sold within 5 years. ABC Development Ltd can then purchase a Qualifying Certificate Bond to be issued to SLA, thus not utilizing ABC Development Ltd’s bank facilities.
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