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   BOC Singapore >> Corporate Banking >> Trade Finance >> Bank Guarantee

Litigation Guarantee


 

Introduction

Litigation guarantee is issued to cover legal costs, fees and court charges that may arise due to a legal suit which is to be in progress.

Product Features

1) Reduce initial cash outlay in a legal suit which is to be in progress if cash deposit is otherwise required.

2) Guarantees the payment of legal fees and costs that is incurred in a litigation case.

3) Enables the smooth progress of a legal pursuit.

Application requirements

1) The applicant is usually the plaintiff in a legal case.

2) Legally registered in Singapore.

3) Maintain current account with our bank.

4) A credit facility or at least 100% cash margin or deposits must be provided(must be pre-arranged with the bank).

5) The format of the bankers guarantee that is to be issued must be acceptable to the bank(the format is subjected to review by the bank’s Legal Department). 

Application Procedures

1. Applicant submits banker guarantee application form together with the documentary evidence showing the need for the Litigation guarantee eg. evidence of the legal case in court.

2. Applicant remits the cash margin or deposits into the Bank and submits the required documents eg deposit slip or Letter of set-off or Charge documents.

3. The bank evaluates customer and transaction information.

4. The bank reviews the banker guarantee application form, the format of the guarantee and checks the security documentation ie Letter of set-off, Charge documents, etc.

5. The bankers guarantee is issued.

Download Forms

Form_Banker's Guarantee Application & Indemnity.doc

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