September 14, 2019Guide to apply Security Bond for Maid in Singapore
- Post By: Site Admin
Security Bond for Foreign Domestic Workers
Apart of salaries and levies, there are a number of other costs involved in hiring a FDW. As a first-time employer, it may be the first time you come across a $5000 security bond that you have to pay. You can find useful information on security bond below.
What is it
You are required by the Ministry of Manpower (MOM) to purchase a security bond of $5000 for your foreign domestic worker (FDW). This applies to FDW of all nationalities with the exception of Malaysian. A security bond serves as a binding pledge placed upon you as an employer to uphold the conditions of hiring a FDW. Should you break or contravene any conditions, you will be liable to pay the government up to $5000 from your security bond.
The good news is the security bond would not set you back $5000 upfront. You can actually purchase a security bond from a bank or an insurance agency in the form of a banker’s guarantee or an insurance guarantee respectively.
You are not allowed to make your FDW pay for the security bond
When to buy the Security Bond
You must buy the security bond before your foreign domestic workers arrives in Singapore. Submit the ln-principle approval letter to your insurer for the processing and issuance of the security bond. Ensure that your insurer submit the details of the security bond to MOM. It takes up to 3 working days for MOM to process the security bond. Once processed, log in to WP online to print out a copy of the acknowledgement letter and send a copy to your FDW before she flies over to Singapore. With the acknowledgement letter, she may be refused entry into Singapore.
When will the bond be discharged
You will be discharged from the bond when you have cancelled your FDW’s work permits and send her back to her home country successfully without violating any of the rules governing the conditions of work permits and security bond.
When will the bond be forfeited
Your bond may be forfeited if you or your FDW breaks any of the conditions of the work permit or security bond. Other scenarios where your bond will be forfeited includes failure to pay your FDW on time, failure to provide the stipulated medical / insurance coverage, failure to send your FDW home when her work permit expires or if your FDW goes missing.
If your FDW becomes pregnant, you must report to MOM as soon as you become aware of it and that you must prove that you have made considerable efforts to inform her of being compliant to all work permit conditions to avoid forfeiting your bond.