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BANKER’S GUARANTEE
To:
MINISTRY OF EDUCATION representing the Government of the Republic of Singapore
NO. 1 NORTH BUONA VISTA DRIVE
SINGAPORE 138675
WHEREAS by an agreement (the “Agreement”) made on
of
(20
(referred to as “the Government”),
day
) between the Government of the Republic of Singapore
(Passport No./ Identity Card No.
) of
(referred to as “the Student”) and
(Identification No.
)
Of
and
(Identification No.
)
Of
(referred to as “the Sureties”) the Student agreed in consideration of the Government providing the
Student a tuition grant, to work in Singapore entity for a period or periods in the aggregate three (3)
years (referred to as “the Bonded Period”) upon completion of the Student’s course at the
AND WHEREAS the Student has graduated from the course and now desires to pursue
further studies overseas or locally/ work overseas/ accompany spouse who is posted overseas to
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work
overseas
(*to
delete/
amend
where
applicable)
for
a
period
of
.
AND WHEREAS the Government had agreed to allow the student to leave Singapore for
further studies in an overseas institution/ local private institution/ for work overseas/ to accompany
spouse who is posted overseas (*to delete/ amend where applicable) for the period of
to
, and to serve the Bonded Period under the said Agreement
upon the Student’s completion or termination of the further studies/ upon the Student’s return to
Singapore after his posting/ upon the Student’s return to Singapore after accompanying spouse
overseas, whichever is earlier (*to delete/ amend where applicable).
NOW IN CONSIDERATION OF THE PREMISES:
1
We,
guarantee to pay the Government forthwith upon demand made
to us in writing without need of proof a sum of S$
should the Student fails to
return to Singapore and report to the Government upon his return within the specified period, or fail
to comply with any terms of the said Agreement for the duration he/she is overseas.
2
We shall not be discharged or released from this guarantee by any arrangement made
between the Government and the Student and/or the Sureties with or without our consent or by
any forbearance whether as to amount, time, performance or in any other way.
3
This guarantee is effective from
and shall expire on
.
Any claim under this guarantee must be made in writing and received by us on or before the expiry
of this guarantee or within three months from the expiry date.
4
This guarantee is issued subject to the laws of the Republic of Singapore and the parties
agree to submit to the exclusive jurisdiction of the Singapore courts.
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