Launch of eGuarantee@Gov on 02 November 2022

Quote by Wee Ee Cheong, Chairman, ABS and Deputy Chairman and CEO of UOB:

“Banks and our customers will benefit from more streamlined processes and greater efficiency thanks to eGuarantee@Gov. More importantly, we hope that the initiative will lead to greater acceptance of digital guarantees from all parties as we move towards a greener and more sustainable economy. ABS is proud to contribute to the successful launch of eGuarantee@Gov together with the Ministry of Finance, the Monetary Authority of Singapore, and other government agencies.”


Developed jointly with ABS and in consultation with the General Insurance Association of Singapore (GIA), the government’s digital Banker’s Guarantee platform, eGuarantee@Gov, was launched on 2 November 2022 by Deputy Prime Minister Lawrence Wong at the Singapore FinTech Festival 2022.

The platform provides a simple and secure digital process for businesses and individuals to provide a banker’s guarantee or insurance bond (collectively, “guarantee”) to government agencies within a day.

Government suppliers and contractors may apply for an eGuarantee from the participating FIs through their websites or emails for direct submission to participating government agencies. Previously, they had to apply for a paper guarantee from an FI, collect it when it was ready, and deliver the physical document to the government agency to discharge their contractual or licensing obligations.

eGuarantee@Gov was developed over 18 months, led by MAS and Ministry of Finance (MOF) as a whole-of government initiative. It was one of the government digitalisation initiatives raised by the ABS COVID-19 Return to Onsite Operations Taskforce (ROOT).

This first collaborative implementation of eGuarantees for government agencies, banks and insurers may serve as a model for future eGuarantee initiatives involving nongovernment beneficiaries.

What are the Benefits of applying for an eGuarantee?

  1. Swift: With eGuarantee@Gov, businesses and individuals can provide a guarantee to government agencies for their contractual or licensing obligations within a day.

  2. Seamless: Businesses and individuals no longer need to deliver the paper guarantees to the government agencies. Guarantees will be issued to government agencies securely and electronically by the Financial Institutions through Singapore Customs’ Networked Trade Platform (NTP).

  3. Saving: In addition to time savings, businesses and individuals get to enjoy cost savings through the eliminations of courier charges, printing cost and physical storage cost.

Media Release


For more information on the initiative, please visit