Document background
The Lease Rental Bond Policy serves as a modern alternative to traditional cash security deposits in Singapore's rental market. This document is typically used when parties prefer an insurance-based security arrangement over cash deposits, offering landlords protection while reducing upfront costs for tenants. The policy must comply with Singapore's regulatory framework, including the Civil Law Act, Insurance Act, and relevant MAS guidelines. It details coverage limits, claim procedures, exclusions, and specific conditions relating to the property and rental agreement. The Lease Rental Bond Policy is particularly relevant in today's rental market where both landlords and tenants seek more flexible security arrangements while maintaining adequate protection.
