Prizes Terms & Conditions

OCBC BANK

Terms & Conditions

The business overdraft facility is a credit limit of S$200,000 for Emerging Enterprise Award and $50,000 for Best Innovation Award

The OCBC Business Overdraft shall be interest- free for 24 months from the date of acceptance. Each winner is entitled to access the credit line, whenever they need the funds for working capital, market expansion and/or other liquidity purposes.  

No interest, processing and annual fees will be charged for 24 months from date of acceptance of the Prize.

The Prize can only be availed to a winner who opens a new Business Overdraft account with OCBC Bank.

All directors and individual shareholders of the winner have to provide personal guarantees to OCBC.

Full terms and conditions will be available on the Letter of Offer.

 

 

RSM Consulting Package for Growing Business

(for Emerging Enterprise Award winner)

Terms and Conditions

'Consulting Package for Growing Business' is a consulting programme run by affiliate companies of RSM. To cater to the different needs of the Emerging Enterprises, RSM will engage each Winner to customise a consulting package worth S$30,000 to suit the winner’s business needs. 

The package is non transferable, not exchangeable for cash and must be utilised within 6 months.

Examples of possible packages:-

Financial Planning and Budgeting : to help to improve the Company’s financial management capabilities.

Corporate Health Check : payroll, income tax, GST health check on most recent records to examine if there are errors or omissions and ensuring that the Company is in compliance with Singapore legislations.

Internal Controls and Operating System Review : develop measures and controls to enhance Company’s operating system. 

Fund raising for business growth : preparation of an information memorandum that supports the Company in its fund raising initiatives, etc.

RSM Professional fee voucher for OCBC Start Digital Package

(for Best Innovation Award winner)

Terms and Conditions

Up to S$10,000 professional fee voucher from RSM to be utilised for OCBC Start Digital Package when linked up with either XERO(1) or Quickbook(2) accounting solutions.

To cater to the different needs of the businesses, RSM will engage each Winner to customise a package worth S$10,000 to suit the winner’s business needs. Each Winner can opt for any single or a combination of following services worth up to S$10,000: 

  1. Set up of chart of accounts, invoice template and standard reporting templates
  2. Training on key functionalities of Xero or Quickbook
  3. Routine accounting services
  4. Drafting of financial statements
  5. Corporate tax compliance

The package is non transferable, not exchangeable for cash and must be utilised within 6 months.

  1. The Start Digital Pack is offered by OCBC in collaboration with Enterprise Singapore and Info-communications Media Development Authority under the SMEs Go Digital Programme. Through the programme, OCBC has put together various digital solutions which can be enjoyed for free for a period of at least 6 months in a bid to help business grow through digitalisation.
  2. Each UEN is only eligible to register for the Start Digital Pack once (i.e. if business has taken up the Start Digital Pack with another bank or telco, it is not eligible for the Start Digital Pack with OCBC).
  3. The Start Digital Pack is only applicable for companies which met the following criteria ("Eligibility Criteria"):
    • Registered and incorporated with a valid UEN issued by ACRA in Singapore for the following business entity types - Sole Proprietors, Partnerships, Limited Partnership, Limited Liability Partnerships, Companies.
    • Have at least 30% ownership/shareholding by Singapore citizens and PRs.
    • Group annual sales turnover of no more than S$100 million or group employment size not exceeding 200.
    • Is a first time applicant for the Start Digital Pack.
    • Must not already be currently using identical solution it is intending to sign up for the Start Digital Pack.
  4. XERO is a cloud-based accounting software that connects people with the right numbers. It includes features like invoicing, inventory management, and bank reconciliation.
  5. Quickbook helps small businesses and self-employed people to manage their finance – from sales and expense tracking to sending and receiving payments, managing GST, all the way to running payroll.

Source: https://www.ocbc.com/business-banking/accounts-and-services/start-digital/index.html

 

 

Mastercard® Prize

Terms & Conditions

Each Mastercard Prize includes two (2) components:

i) S$20,000 credit in the OCBC Business Debit Card; and 
ii) a Mastercard Priceless Travel Experience

Each Winner must accept both components of the Mastercard Prize in order to be eligible. The Mastercard Prize is neither transferable, nor exchangeable for cash or any other items.

(i) A winner without an OCBC Business Banking Account and/or OCBC Business Debit Card must open an OCBC Business Banking Account/apply and acquire an OCBC Business Debit Card by no later than 31 October 2019 to receive the S$20,000 credit in the form of a cheque.

Upon signing the Letter of Acceptance for the Mastercard Prize and completion of the Mastercard Priceless Travel Experience, S$20,000 will be credited into the Winner’s OCBC Business Banking Account within 60 days from the end data of the Mastercard Priceless Travel Experience.

Each Winner must submit a summary on the planned usage of this S$20,000 fund in writing in the Letter of Acceptance for the Mastercard Prize.

(ii) The Mastercard Priceless Travel Experience consists of a learning journey and a priceless experience. Details shall be revealed at a later date. Each Mastercard Priceless Travel Experience Package will include:

1) return airfare for 1 person; 
2) hotel accommodation for 1 person; and 
3) land itinerary including transfers.

Mastercard does not assume any responsibility for the prizes, products and services offered under this event. The prizes, products and services are provided solely by the relevant vendors, under such terms and conditions as determined by such vendors, and Mastercard accepts no liability whatsoever in connection with such prizes, products and services. The prizes, products and services have not been certified by Mastercard and under no circumstances shall the inclusion of any prize, product or service in this event be construed as an endorsement or recommendation of such prize, product or service

Full terms and conditions will be available on the Letter of Acceptance.

 


ACORN Marketing & Research Consultants

Strategic Research Consultancy Package

Terms & Conditions

This is a Research Consultancy package aim at providing businesses with Consumer Insights so they can better understand and identify pertinent issues facing their business or brands

The package is as follows :

S$20,000 for the top 3 emerging enterprise winners

$15,000 for 2 innovation award winners

Given the differing needs of the Emerging Enterprises, Acorn will customize and design a Research Solution that is best suited to the specific business needs and issues.

The grant must be utilized within a year from the date of award. Any unconsumed amount will be forfeited.

Exchange for cash is strictly prohibited.

 

 

Rajah & Tann - Legal Basix

Terms & Conditions

Winners of these Packages may redeem up to the dollar value of each package against the cost of legal and advisory work done by us in any of the 6 areas of Legal Basix’s areas of expertise, being: corporate, dispute resolution, e-commerce, employment, intellectual property and regional expansion. Such redemption is subject to such terms and conditions may be imposed, including but not limited to the following terms:

Packages may only be redeemed against legal fees for advisory work only, and cannot be used as a deposit or to be set-off against GST, disbursement and third-party charges.

Packages are non-transferable, not exchangeable for cash and must be utilised within 6 months of award, after which the Packages shall no longer be valid.

Acceptance of any engagement by Legal Basix pursuant to the Packages are subject to the winner strictly fulfilling and clearing and/or complying with Legal Basix’s internal requirements including but not limited to ‘Conflicts of Interest’ searches as well as other legal and regulatory clearance processes, and in some cases, deposit requirements.

 

 

Singtel Singtel ICT Business Solutions Package

Terms & Conditions

Up to 2 winners will each receive up to $30,000 of Information and Communication Technology (ICT) business solutions package (“the Package”).

The ICT business solutions package must be confirmed within 2 months from the Winners’ Briefing Session (Oct). The winner may choose to activate all or only certain items within the ICT business solutions package. However, if the winner opts not to activate any one or more items in the ICT business solutions package, strictly  (i) no replacements of any sort, (ii) no exchanges for other services, and (iii) no replacement value in cash or kind of any type or form will be permitted.

The business solutions package is strictly not exchangeable for cash, not exchangeable for other services, not variable and non-transferrable.

Only new services apply, no upgrade from existing services.

Penalty charges will be borne by customers should customer wish to terminate any current services and utilise prize package as new service.

No hardware of any sort will be provided as part of the ICT business solutions package. Any hardware equipment cost, any installation cost, relocation cost and customization cost will be borne by the customers.

Singtel will engage the winners for testimonial statements in any format including case studies or video (marketing collaterals).

Singtel reserves the right to:

-Assign the business solutions deemed beneficial by Singtel for the business

-Change the solutions and any terms and condition of the ICT package

-Singtel products and services’ terms and conditions apply.

 

 

Wavemaker Digital Consulting Package

Terms & Conditions

Wavemaker shall award a digital consulting package worth S$30,000.

Prize sponsorship is non transferable.

Sponsorship Utilization has to be within 12 months from prize announcement.

 

Are you looking for advice on taxes or loans? Wondering how to make use of data analytics? Curious about how other SMEs motivate employees? Tap the wisdom of our panel of experts and the savvy of fellow entrepreneurs now - just ask.

Submit a Question