In Chiu Teng Construction Co Pte Ltd v. AXA Insurance Pte Ltd  SGHC 234, the High Court revisited the propositions relating to indemnity bonds set forth in JBE Properties Pte Ltd v. Gammon Pte Ltd  2 SLR 47 and York International Pte Ltd v. Voltas Ltd  3 SLR 1142. The High Court held that a beneficiary under an indemnity bond must prove that it has suffered actual loss as a matter of fact. This can only be definitively done after an independent determination, or arbitral award or by way of an admission; the provision of documents, regardless of volume and specificity would be insufficient to conclusively prove the matter. The High Court went on to hold that the court is in a position to determine whether the beneficiary, who is before the court, has adduced sufficient evidence to definitively prove its case. It allowed the call on the bond.
Note: The case is currently on appeal, with the hearing fixed for May 2021.