Foreign Worker Security Bond
In Singapore, employers who hire foreign workers, including foreign domestic workers (FDWs), are required by the Ministry of Manpower (MOM) to purchase a security bond. This ensures compliance with regulations and demonstrates an employer’s commitment to responsible hiring practices. With Ad Maiora’s Security Bond insurance, you can meet MOM requirements seamlessly, providing you with the necessary coverage and peace of mind.
What does Security Bond cover?
Ensures compliance with MOM regulations for hiring foreign employees, including FDWs and other foreign workers.
Covers penalties or obligations if terms of employment for foreign workers are breached, reducing financial risk for employers.
Provides the required bond coverage amount, which safeguards both employers and employees in the event of unexpected issues or claims.
Security Bond Insurance Cost
Security Bond insurance cost depends on several factors, including:
No.of Foreign Workers
Type of Employment
Bond Amount Required
Why Do You Need Security Bond?
As an employer of foreign workers in Singapore, ensuring compliance with MOM’s security bond requirements is essential. Security Bond insurance provides financial protection and peace of mind by covering any penalties or claims associated with the employment of foreign workers. With our comprehensive solutions, you can focus on managing your workforce effectively while we handle the regulatory requirements.