Letter of Indemnity

In consideration of Liberty Insurance Pte Ltd (“the insurer”) agreeing at my/our request to issue a Letter of Guarantee (“the MOM Guarantee”) in favor of Ministry of Manpower (“MOM”) guaranteeing the payment on demand of any sum or sums not exceeding in total Singapore Dollars Five Thousand (S$5,000) in lieu of the cash deposit of Singapore Dollars Five Thousand (S$5,000) that the employer would otherwise have to provide as security under the Security bond executed by the employer in favor of MOM, I/we hereby jointly and severally irrevocably and unconditionally agree and undertake for myself/ourselves and my/our heirs executors administrators assigns and successors that

• As a continuing obligation I/We shall indemnify and keep indemnified the insurer from and against all claims, demand, payment, actions, suits, proceedings, losses, expenses including legal costs on an indemnity basis and all other liabilities of whatsoever nature or description which may be made or taken against or incurred by the Insurer in relation to or arising out of the Guarantees and/or this Counter-Indemnity.
• Where any request is made upon the Insurer by MOM for payment of any sum pursuant to the Guarantee, (“such request”) the insurer shall at its absolute discretion be at liberty to contest or compromise or immediately pay upon such request and such request shall be sufficient authority to the insurer for making any payment thereon without requiring or obtaining any evidence or proof that the amount so claimed or requested is due and payable to MOM and without any notice or reference to or further authority from me /us notwithstanding that I/we may dispute the validity of any such claim or request.
• I/We shall not at any time question or challenge the validity legality or otherwise of any payment made by the Insurer to MOM pursuant to such request or deny any liability under this Counter-Indemnity on the ground that such payment or any part thereof made by the insurer was not due or payable under the Guarantee or on any other ground whatsoever.
• I/We shall not be discharged or released from this indemnity by any compromise, variation or arrangement made between MOM and the Insurer in relation to the obligation undertaken by the insurer under the Guarantee or by any forbearance whether as to payment, time, performance or otherwise given by MOM to the insurer.
• My/Our liability hereunder is irrevocable and shall remain in full force and effect until the Insurer’s liability under the Guarantee is fully discharged to the Insurer’s satisfaction.
• This indemnity shall be governed by and construed in accordance with the laws of Singapore.