Application Terms and Conditions

The following Terms and Conditions govern participation in, assessment for, and conferment under the Singapore SME 500 Award ("SME 500"), administered by the Association of Trade and Commerce (ATC), and its authorised agents, affiliates and partners.

During the application submission process, applicants are required to acknowledge and agree to these Terms and Conditions by indicating their acceptance through the relevant checkbox(es). By submitting an application, the applicant confirms that they have read, understood and agreed to the Terms and Conditions stated below:

1. Applicant is to ensure that information and/or documents provided to the Assessment unit for the application of the Singapore SME 500 Award are true and accurate. Information provided are strictly for referencing purposes only and the SME 500 assessment committee shall perform the necessary information verification and/or assessments with the SME 500 supporting partners and/or agencies.
   
   
2. Applicant is to provide updated information, materials and/or documents upon request from the assessment unit. Such information, materials and/or documents are to be provided through hard copy, electronic mail or via the BizPortal.
   
   
3. Upon submission of the SME 500 application, the applicant hereby agrees and acknowledges that the SME 500 Assessment unit shall commence assessments, verification, background checks, referencing and any other related searches (herein referred as 'searches') in support of the SME 500 application. Such searches shall be conducted at the sole discretion of the SME 500 assessment unit and such information shall remain strictly classified.
   
   
4. The assessment results and conclusion of an application by the SME 500 assessment unit is final and binding. We regret to inform that no appeal(s) will be accepted in the event of application's rejection.
   
   
5. The SME 500 committee shall not be liable for any loss of of application related documents, information, materias and/or payment. The applicant is to exercise due dilligence in the process of making such submissions.
   
   
6. The SME 500 committee reserves the rights to amend, revoke and/or disqualify the status of the SME 500 application if the applicant has been found to have breached in any of the areas:
   
   a. Information has been found to be inaccurate and the applicant failed to provide disclosure for such information,
   b. Fraudulent misrepresentation of applicant and/or business information,
   c. Civil and/or criminal proceedings filed against the applicant,
   d. Trading and/or fiscal policies have been found to be of unethical,
   e. Failed to effect payment for the Award Winner's Exclusive within the given duration (ie: 7 days upon notification);
   
   
7. To maintain the integrity and uphold high standards of the SME 500, the assessment unit shall, at its own discretion to perform periodic review of applicant to ascertain the status of awarded applicants. Such decision shall remain final at the sole and absolute discretion of the SME 500 assessment unit.


8. SME 500 Award Winners are authorised to use the SME 500 media files for promotional and marketing purposes. It is agreed that such file(s) shall not be modified, changed, amended and/or altered and are to be represented in a dignified and respectful manner in the course of incorporation. Such media files includes:
   
   a. Media files included in the SME 500 Award Winner's Digital Welcome Kit;
   b. Ceremonial and media releases.
   


9. Awarded applicants will be required to take up the Singapore SME 500 Award Winner's Exclusive that covers the respective entitlements under the award. The one-time cost for the Award Winner's Exclusive is S$ 2,616.00 (inclusive of 9% GST). For avoidance of doubt, “awarded applicants” refers to applicants who have completed the full assessment process, have been approved, and have been officially notified of their award conferment.
   
   
10. In the event where an applicant has completed the assessment process, received the notification on confirmation of application approval and wishes to withdraw from the Singapore SME 500 Award, the applicant shall be subjected to a withdrawal administrative fee of S$392.40 (inclusive of 9% GST). The withdrawal administrative fee is applied to offset administrative and assessment costs incurred.


11. No payment of any nature is required required from applicants who are unsuccessful in the assessment process (eg: failed assessments / rejected application).


12. It is important that applicant maintains a positive credit rating on both an individual and corporate level. In the event where the SME 500 Award Winner's Exclusive has been overdued for a period of more than twenty-one (21) days, the following areas will be in effect:
    
    a. Applicant will be disqualified from the SME 500 with immediate effect;
    b. Status of the applicant shall be revoked;
    c. Overdue payment and duration shall be filed with the relating credit agencies;
    d. Applicant shall be filed for further audit on compliance;
    e. Applicant and managing business(es) may be barred from future applications.


13. The applicant agrees to indemnify the Association of Trade and Commerce (ATC) and SME 500 affiliates againsts any and/or all lossess arising from the application and/or participation of the SME 500 Award.


14. Any decisions made by the assessment division, ATC, and/or ATC's authorised agents and affiliates for the purpose of the Singapore SME 500 Award shall be final and binding.