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THE STATE BANK OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom – Happiness
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No. 02/2004/TT-NHNN
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Hanoi, May 19, 2004
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CIRCULAR
GUIDING THE DEPOSIT AT BANKS FOR
ENTERPRISES ENGAGING IN LABOR EXPORT ACTIVITY
According to the provision in Paragraph 5, Article 9 and
Paragraph 6 Article 26 of the Decree No. 81/2003/ND-CP dated 17 July, 2003 of
the Government providing in details and guiding the implementation of the Labor
Code on Vietnamese Laborers who are working in foreign country and upon
agreement with the Ministry of Labor, War Invalids and Social Affairs, the
State Bank of Vietnam provides guidance on the deposit at banks for enterprises
engaging in labor export activity as follows:
I. SUBJECTS OF APPLICATION AND GOVERNING SCOPE
1. This Circular shall provide for the deposit at a
commercial bank by enterprises engaging in labor export activity in accordance
with Article 8 of the Decree No. 81/2003/ND-CP dated 17 July, 2003 (hereinafter
referred to as enterprise and bank).
2. The enterprise, the bank and concerned parties shall
perform the account opening, use and manage the account "deposit" in
compliance with provisions of this Circular and related laws.
II. OPENING, USAGE AND MANAGEMENT OF THE ACCOUNT
"DEPOSIT" FOR THE LABOR EXPORT ACTIVITY
1. Enterprises shall deposit an amount in accordance with
the level stipulated in Paragraph 5, Article 9 of the Decree No. 81/2003/ND-CP
dated 17 July, 2003 for the State competent agency to consider granting them
with the labor export permit. The amount of deposit must be maintained for the
time where enterprises engage in the labor export activity.
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2. Performance of the deposit:
a. The enterprise shall submit a request for the deposit to
secure the labor export activity to the bank (the form in Appendix 01).
b. The Bank and enterprise shall enter into a deposit
contract in compliance with provisions in this Circular and relevant laws,
which include such contents as: name, address of the enterprise and the bank;
the amount of deposit; interest rate of deposit amount; opening and usage of
account "deposit"; withdrawal of deposited amount; return of the amount
of deposit; responsibilities of respective parties and other agreements.
c. The Bank shall account the amount of deposit to the
account "deposits in VND to secure other payments" and confirm the
deposit of the enterprise for labor export activity (the form in Appendix 02).
3. The Bank shall permit enterprise to withdraw the amount
of deposit to use for the purpose of bringing home Vietnamese labor from
foreign countries in following cases:
a. Where there is a written request by the enterprise (form
in the Appendix 03) enclosed with the document of the Ministry of Labor, War
Invalids and Social Affairs that requests to bring home Vietnamese labor from
foreign countries .
b. Where there is a written document of the Ministry of
Labor, War Invalids and Social Affairs enclosed with the authorization letter
of the enterprise on the withdrawal of the amount of deposit.
4. The Bank shall return the deposited amount to the
enterprise and close the account in following cases:
a. Where there is a document of the Ministry of Labor, War
Invalids and Social Affairs to the extent that the enterprise fails to satisfy
full conditions for being granted with a labor export permit or to change for
the new permit.
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5. Responsibilities of the bank and the enterprise.
5.1. Responsibilities of the bank:
a. To implement and provide guidance to enterprise on the
opening, usage and management of the account "deposit" in accordance
with provisions in this Circular and relevant laws.
b. To confirm the deposit for the labor export activity of
the enterprise;
c. To pay interests on the deposit balance at the interest
rate agreed upon in the deposit contract.
5.2. Responsibilities of the enterprise
a. To pledge and maintain the full amount of deposit in
accordance with provisions in point 1 of this Section.
b. To comply with provisions of this Circular and relevant
laws on the opening, usage and management of the account "deposit".
III. ORGANIZATION OF THE IMPLEMENTATION
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2. If an enterprise has deposited at any financial, credit
institution other than a commercial bank before the effectiveness of this
Circular, it must deposit in a commercial bank in accordance with provisions in
this Circular.
3. Heads of units of the State Bank, General Managers of the
State Bank branches in provinces, cities under the central Government’s
management, Board of Directors and General Managers (Managers) of commercial
banks and enterprises, which are entitled for being granted with a labor export
permit, shall be responsible for the implementation of this Circular.
FOR THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR
Phung Khac Ke
NAME OF ENTERPRISE
SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom – Happiness
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REQUEST FOR DEPOSIT TO SECURE THE LABOR EXPORT
ACTIVITY
(Appendix 01)
To: The Bank……………………………………
Pursuant to the Circular No.: …………. of the Governor of the
State Bank guiding the deposit at the bank for the enterprise engaging in labor
export activity.
Name of the enterprise:
Address of Head office
Tel: Fax:
Deposit account No.: at
the bank:
Account holder: Title:
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We undertake to correctly comply with provisions of
applicable laws on the deposit at the bank for enterprises engaging in labor
export activity.
..............., date.............
DIRECTOR
(Sign, clearly
state full name and seal)
NAME OF THE BANK
SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom – Happiness
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CONFIRMATION ON THE DEPOSIT TO SECURE THE LABOR
EXPORT ACTIVITY
(Appendix 02)
Pursuant to the Circular No.: of the Governor
of the State Bank guiding the deposit at the bank for the enterprise engaging
in the labor export activity and the deposit Contract No. ..............
dated................... entered into between the enterprise and the bank.
The Bank: ......................................................................................
Confirms:
Name of the enterprise:
Address of Head office
Tel: Fax:
Account holder: Title:
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..............., date.............
MANAGER
(Sign, clearly
state full name and seal)
NAME OF THE BANK
SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom – Happiness
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REQUEST FOR THE WITHDRAWAL OF THE DEPOSIT FOR
SECURING LABOR EXPORT ACTIVITY
(Appendix 03)
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Name of the enterprise:
Address of Head office
Tel: Fax:
Account (escrow):
Account holder: Title:
We would like to request your good bank to permit us to
withdraw the deposited amount of: ............... to pay for the expenses in
relation to the bringing home Vietnamese Laborers from foreign country.
We undertake to correctly comply with applicable provisions
on the deposit at the bank for the enterprise engaging in the labor export
activity.
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DIRECTOR
(Sign, clearly
state full name and seal)