e-Bank Guarantee (eBG) Services

At a Glance

eGuarantee@Gov enables customers to fulfil government contract and regulatory guarantee requirements through a secure and fully digital process. With standardised guarantee formats, faster processing and electronic submission through the Networked Trade Platform (NTP), customers can enjoy a seamless and efficient banking experience. Our eBG facility is accepted by participating Government Agencies, Statutory Boards and other onboarded beneficiaries in Singapore.

Features & Benefits

Standardised Guarantee Formats

Pre-approved and standardised guarantee formats accepted by participating agencies help ensure smoother processing and reduced documentation discrepancies.

Faster Guarantee Issuance

Enjoy quicker turnaround time through digital processing and electronic issuance of guarantees.

Cost & Time Savings

Reduce paperwork, manual processing and physical visits through a digital guarantee issuance process.

How It Works

Step 1 – Submit Application

Customer submits the eBG application together with supporting documents and approvals through the Bank’s prescribed process.

Step 2 – Processing & Verification

The Bank verifies the application, documentation and guarantee details before processing the eBG through the Networked Trade Platform (NTP).

Step 3 – eBG Issuance

Upon successful transmission through the NTP platform, the electronic Bank Guarantee (eBG) is officially issued to the beneficiary.

Step 4 – Beneficiary Review

The beneficiary will have up to five (5) business days to review and accept the eBG details.

Step 5 – Notification in Case of Rejection

In the event the eBG is rejected by the beneficiary during the review period, the Bank will contact the customer for necessary rectification or further action.

Contact Us

For enquiries relating to e-Bank Guarantee services, please contact:

Trade Finance Department

Indian Overseas Bank

Singapore Branch

Email: iobtrade1[at]iob[dot]com[dot]sg

Telephone: +65 63724419 / 63724429