What is it?
Employers are needed to deposit a sum of S$5,000 with MOM when employing a foreign worker. Purchasing foreign Worker Bond from insurer will ease your financial burden
- Submit security deposit of $5,000.00 per worker to MOM
- Cover Period 26 months
How is Premium Calculated?
- Nature of Business
- Number of Employees
- Financials of Company
- Underwriting requirements by Insurers
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