Thông tư 02/2004/TT-NHNN

CIRCULAR

GUIDING THE PAYMENT OF DEPOSITS AT BANKS BY ENTERPRISES ENGAGED IN LABOR EXPORT ACTIVITIES

In furtherance of Clause 5, Article 9 and Clause 6, Article 26 of Decree No. 81/2003/ND-CP of July 17, 2003 detailing and guiding the implementation of the Labor Code's provisions on Vietnamese laborers working overseas and after consulting the Ministry of Labor, War Invalids and Social Affairs, the State Bank of Vietnam hereby guides the payment of deposits at banks by enterprises engaged in labor export activities as follows:

I. SUBJECTS OF APPLICATION AND SCOPE OF REGULATION

1. This Circular prescribes the payment of deposits by enterprises engaged in labor export activities at commercial banks (hereinafter referred to as enterprises and banks) according to Article 8 of Decree No. 81/2003/ND-CP of July 17, 2003.

2. Enterprises, banks and involved parties shall open, use and manage deposit accounts strictly according to the provisions of this Circular and relevant law provisions.

II. OPENING, USE AND MANAGEMENT OF DEPOSIT ACCOUNTS FOR LABOR EXPORT ACTIVITIES

1. Enterprises shall pay deposits at the levels prescribed in Clause 5, Article 9 of Decree No. 81/2003/ND-CP of July 17, 2003 for consideration and grant of labor export permits by competent State agencies. These deposit amounts must be maintained throughout the course of labor export activities of enterprises.

In cases where enterprises are allowed by banks to withdraw their deposits for use for repatriating Vietnamese laborers working overseas at written requests of the Ministry of Labor, War Invalids and Social Affairs according to the provisions at Point 3 of this Section, they shall, within 30 days after the

2. Payment of deposits:

b/ Banks and enterprises shall sign depositing contracts in compliance with the provisions of this Circular and relevant law provisions, including the following contents: names and addresses of enterprises and banks; deposit amounts; deposit interests; opening and use of deposit accounts; withdrawal of deposits; refund of deposits; responsibilities of the involved parties and other agreements.

3. Banks shall allow the withdrawal of deposits for use for repatriating Vietnamese laborers working overseas in the following cases:

4. Banks shall refund deposits to enterprises and liquidate accounts in the following cases:

a/ The Ministry of Labor, War Invalids and Social Affairs replies in writing the enterprises on non-satisfaction of conditions for grant or renewal of labor export activity permits.

b/ The Ministry of Labor, War Invalids and Social Affairs makes written certification that the enterprises have terminated their labor export activities, liquidated overseas working contracts signed with laborers and fulfilled the law-prescribed financial obligations towards the State.

5. Responsibilities of banks and enterprises:

5.1. Responsibilities of banks:

5.2. Responsibilities of enterprises:

III. ORGANIZATION OF IMPLEMENTATION

1. This Circular takes effect 15 days after its publication in the Official Gazette.

2. If enterprises pay their deposits at financial and credit institutions other than commercial banks before the effective date of this Circular, such deposits must be transferred to commercial banks according to the provisions of this Circular.

3. The heads of the units attached to the State Bank, the directors of the branches in the provinces and centrally-run cities, the managing boards, the general directors (directors) of commercial banks and enterprises eligible for consideration for grant of labor export activity permits shall have to implement this Circular.