How to Renew /Extend/Withdraw Security?
Renewal Of Security
If you have lodged a security with Singapore Customs expiring in the month of December, Singapore Customs will inform you of the recommended security amount to lodge for the following year in November of the current year.
The recommended security amount is computed based on your entity’s past transaction and its TradeFIRST (TF) band, Declaring Agent (DA) band and your compliance records with Singapore Customs. Entities that have been accorded a better TF band or DA band, or have maintained exemplary compliance records can expect lower or waiver of security requirements for most types of transactions.
If your security does not expire in the month of December, you will be notified on the expiry of your security two months before the expiry date.
You may lodge a new security using the Security Application Form or extend the expiry date of your existing security using the Security Extension Form. You are encouraged to submit your new security or security extension to Customs at least two weeks before the expiry of your existing security to allow sufficient time for processing and amendments in case of discrepancies.
You may write in to Customs to withdraw a valid security. We will return the original security once we have confirmed that you do not have any outstanding matters with us.