For cash security deposits, JP will progressively review the required security deposit taking into account the latest preceding 12 months of transactions. Where the cash security deposit held exceeds the revised requirement, the excess will be refunded. Where there is no excess available for refund, or where a top-up is required, JP will notify the port user accordingly.
For non-cash security deposits such as a Banker’s Guarantee, qualifying port users may retain the existing Banker’s Guarantee until its expiry. Alternatively, port users may choose to provide a new Banker’s Guarantee for the revised lower amount covering the remaining period. JP will notify qualifying port users of the applicable arrangements.
