For Businesses

Bonds &
Credit Insurance

Our trade credit insurance policies provide protection for your company in local and export transactions against non-payment by customers. By managing such credit risks, you will have greater confidence in expanding your business and giving credit terms to your customers.

Comprehensive Short-Term Policy (Export)

The Comprehensive Policy for export transactions is available for a wide range of businesses where products or services are sold on credit terms of typically not more than 180 days. For special cases, trade credits of up to 720 days may be considered.

The risks covered include:

  • Insolvency of the buyer
  • Non-payment of goods accepted by the buyer
  • Buyer's failure to take up the goods
  • Cancellation or imposition of import licence in the buyer's country
  • Transfer delay or delay in payment due to the imposition of foreign exchange controls in the buyer's country
  • War and other disturbances in the buyer's country which could affect the settlement of the debt

Indemnity is up to 90 per cent of the gross invoice value and payable in Singapore dollars or an approved foreign currency.

Comprehensive Short-Term Policy (Domestic)

The Comprehensive Policy for domestic transactions protects against non-payment due to insolvency or default by Singapore buyers.

With such credit risks reduced, companies can:

  • Compete more effectively with better credit control
  • Better manage political or commercial risks
  • Safeguard the balance sheet and increase profitability
  • Enhance funding or borrowing capacity
  • Be more confident when venturing into new markets or selling to new buyers
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Bonds and Guarantees

ECICS provides guarantees for all commercial undertakings, which can help to free up your funds for any financing need without affecting your credit line at the bank.

Our range of surety bonds and guarantees includes:

  • Performance Bond
  • Advance Payment Bond
  • Contract Tender Bond / Bid Bond
  • Retention Money Bond
  • Maintenance Bond
  • Qualifying Certificate Bond
  • Customs Bond
  • Foreign Worker Bond
  • Tenancy / Rental Bond
  • Account Payment Bond
  • Utility Service Bond
  • Advertising Media Bond
  • IATA Freight Forwarding Bond
  • Airlines Freight Forwarding Bond

Performance Bond

A bond to secure the performance of any contract. A contract refers to any written agreement between the client and the beneficiary for the carrying out of works, the performance of services, or the supply or provision of any goods.

Advance Payment Bond

A bond to secure the repayment of any sum advanced by the beneficiary to the client under or for the purposes of the contract, where such sum is advanced before the carrying out of works, the performance of services, or the supply or provision of any goods pursuant to such contract.

Contract Tender Bond / Bid Bond

A bond in respect of a tender to secure the payment of any loss or damage suffered or incurred by the beneficiary, arising out of the failure of the client to enter into a contract or provide performance, or other bond pursuant to such tender.

Retention Money Bond

A bond to secure the payment of any sum(s) released to the client by the beneficiary before the date for payment or release thereof contained in the contract.

Maintenance Bond

A bond to secure contractual obligations relating to the maintenance of works or goods following the physical completion or the provision thereof, pursuant to a contract.

Qualifying Certificate Bond

A bond required by the Urban Redevelopment Authority ("URA") for land developers whose shareholding is partly or fully owned by foreign entities in Singapore. The purpose of the bond is to curb land price speculation by these companies.

Customs Bond

A bond required by the Customs and Excise Department. The bond is mainly to ensure importers and exporters do not engage in illegal activities, and that they pay their customs duties promptly.

Foreign Worker Bond

A bond required by the Ministry Of Manpower to ensure that a particular foreign worker remains within the employment of the client during the term of his employment.

Tenancy / Rental Bond

A bond to secure the tenancy/rental deposit often required in renting a place for commercial activities.

Account Payment Bond

A general class of bond issued to any service provider for securing services provided to the client. For instance, a bond issued to PSA allowing the client to utilise PSA's facilities. This class of bond can be sub-categorised further to specific beneficiary and class of service, such as utility service bond, advertising media bond, IATA freight forwarding bond, and airlines freight forwarding bond.

Utility Service Bond

A sub-category of account payment bond issued to utilities providers (both public or private institutions) for securing utilities services provided to the client.

Advertising Media Bond

A sub-category of account payment bond issued to media service providers (i.e. operators of television, radio or printed media) for securing advertising media services provided to the client.

IATA Freight Forwarding Bond

A sub-category of account payment bond issued to the International Air Transport Association ("IATA") for freight transportation in and out of Singapore Changi Airport.

Airlines Freight Forwarding Bond

A sub-category of account payment bond issued to airlines for freight transportation in and out of Singapore Changi Airport.

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Our property insurance protects against damage to corporate buildings, contents and assets due to a covered cause of loss, such as a fire. Our Industrial All Risks policies provide comprehensive coverage, which may also cover the loss of income or increase in expenses that results from property damage. We also provide other property insurance coverages.

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Download our Fire Proposal Form now!


FIRE & EXTRANEOUS PERILS insurance is the most basic type of property insurance which insures property against loss or damage by fire and lightning. Additional perils can be included under the standard Fire policy.
Common perils insured are

  • Riot and strike
  • Explosion
  • Malicious damage
  • Impact by road vehicles
  • Water damage due to bursting or overflowing of water tanks, apparatus or pipes
  • Earthquake
  • Volcanic eruption
  • Typhoon
  • Flood

INDUSTRIAL ALL RISKS policy will indemnify the insured for any accidental physical loss or damage to the property insured in the premises, except those specifically excluded in the policy.

BUSINESS INTERRUPTION policy will indemnify the insured against trading losses due to interruption of the business following damage by fire and/or extraneous perils to the insured premises.


Our engineering policy covers the accidental loss or damage to civil engineering or building projects under construction, and any legal liability as a result of bodily injury or property damage caused to third parties from the performance of the contract. We also provide other engineering insurance coverages.

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Download our Contractors' All Risks/Erection All Risks Proposal Form now!


CONTRACTOR’S ALL RISKS insurance is a comprehensive 'All Risks' Cover which offers effective protection for construction work against any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded.

MACHINERY ALL RISKS policy covers the property insured for damaged by any accident or misfortune whilst in the situation of the risk described.


Our comprehensive employee benefits are designed to take care of the well-being of this most valuable asset of yours. We have a wide range of plans and packages that will provide for accident and medical coverage.

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WORK INJURY COMPENSATION policy covers the employer with regards to the legal liabilities under the Work Injury Compensation Act and protection against Common Law legal liabilities from employee claims.

Download our Work Injury Compensation Form now!

FOREIGN WORKER MEDICAL insurance covers medical expenses for non-work related sicknesses and accidents within Singapore. It offers round-the-clock protection for all gainfully employed foreign workers holding a valid pass (S-Pass, Work Permit, Special Pass).

Download our Foreign Worker Medical Proposal Form now!

Policy Owners' Protection Scheme
This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please visit or the GIA / LIA or SDIC websites.


Our Marine Cargo Insurance provides protection for goods against damage or loss during transit.

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Our liability insurance policy aggregates both public and products liabilities. This policy helps to protect businesses against claims resulting from property damage, personal injury and advertising liability to third parties related to your business or products. The incurred expense for legal defense is also covered.

Download our Public Liability Proposal Form now!

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PUBLIC LIABILITY insurance will indemnify the insured against their legal liability as well as legal liabilities of their employees and representatives for any damage to a third party’s property or injury caused by the negligence of the insured.


The various Policies that provides specialised coverage are as below:

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BURGLARY policy insures the loss or destruction or damage to property as a result of theft or attempted theft involving forcible and violent entry or exit from the premises.

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MONEY policy covers the insured against loss or destruction of or damage to money.

Download our Money Proposal Form now!

FIDELITY GUARANTEE policy Indemnify the employer against direct pecuniary loss sustained through acts of dishonesty by employees in the course of employment.

Download our Fidelity Guarantee Proposal Form now!

PLATE GLASS policy covers the breakage and destruction of all kinds of fixed glass within the insured premises.

Download our Plate Glass Proposal Form now!