We will issue a Letter of Guarantee for the S$5,000 security bond on your behalf to MOM.
If MOM makes a demand, we will first make the payment and recover the payment from you under the policy conditions of Section 9 (Refer to the policy wordings)
Suppose you opt for the optional cover for Waiver of Counter Indemnity. In that case, you only need to reimburse us the excess amount of S$250, provided that the payment is not caused by or resulting from your breach of conditions under the Security Bond.