Decision No. 128/1999/QÐ-BTC of the Minister of Finance on the issuance of rules, fee schedules, and insurance amounts for fishery workers' accident insurance and all-risk vessel insurance for distant water fishing vessels.

 

Pursuant to …;

Regarding the issuance of Rules, Fee Schedule, and Insurance Amount for Fishermen's Accident Insurance and All-Risk Hull Insurance for Offshore Fishing Vessels

----------------------------

THE MINISTER OF FINANCE

Pursuant to the Prime Minister's Decision No. 853/1997/CT-TTg dated October 11, 1997 on combating smuggling under new circumstances;

Pursuant to Decree No. 100/CP dated December 18, 1993 of the Government on insurance business and Decree No. 74/CP dated June 14, 1997 of the Government amending and supplementing certain provisions of Decree No. 100/CP dated December 18, 1993;

Pursuant to Decree No. 72/1998/NĐ-CP dated September 15, 1998 of the Government on ensuring safety for fishermen and fishing vessels operating at sea;

After receiving comments from the Ministry of Fisheries through Circular No. 1541/TS-TCKT dated May 29, 1999 regarding participation in risk insurance rules and Circular No. 2142 TS/TCKT dated July 28, 1999 regarding fee schedule and insurance value opinions;

At the proposal of the Director of the Department of Banking and Financial Organizations.

DECISION:

Article 1:||| The following are hereby issued together with this Decision:

- Rules, Fee Schedule, and Insurance Amount for Fishermen's Accident Insurance on Fishing Vessels;

- Rules and Fee Schedule for All-Risk Hull Insurance for Offshore Fishing Vessels.

Article 2: In cases where the average compensation ratio over the previous three years is less than (or greater than) 60%, the insurance company is permitted to reduce (or increase) the insurance premium but not exceeding 15% of the premium amount issued under this Decision.

Article 3: This Decision shall take effect fifteen days from the date of signature.

Article 4: The Director of the Department of Banking and Financial Organizations, the Head of the Ministry of Finance’s Office, and the Heads of related units shall be responsible for supervising the implementation of this Decision./.

 

 

 

ETHICAL RULES ALL-RISK HULL INSURANCE FOR OFFSHORE FISHING VESSELS OPERATING IN VIETNAMESE MARITIME ZONES

Article 1: Object and Scope of Insurance

PART I

GENERAL PROVISIONS

Insurance companies, ship owners, and operators of vessels licensed for offshore fishing operations are obligated to implement compulsory hull insurance for offshore fishing vessels.

The scope of insurance covers the vessel body (including: hull, engine, maritime equipment, machinery and equipment used for fishing).

Article 2: Insurance Contract:

The Insurance Certificate issued by the insurance company upon request of the insured party serves as evidence of the insurance contract between the insured party and the insurance company.

Article 3: Effectiveness of the Insurance Contract and Renewal of the Insurance Contract:

1. Effectiveness of the Insurance Contract: The effectiveness of the insurance contract begins and ends according to the provisions recorded on the Insurance Certificate. The insurance company issues the Insurance Certificate when the insured party has paid the insurance premium fully and on time as stipulated (unless otherwise agreed). Additionally, the effectiveness of the insurance contract automatically terminates immediately upon occurrence of any of the following circumstances:

a/ Changing the registration authority of the vessel without notifying the insurance company in writing.

b/ Suspension of vessel operation or revocation of the vessel's operating license or expiration of the license.

c/ Transfer of ownership of the vessel (unless the vessel owner has notified in writing and received approval from the insurance company).

d/ Loss of validity or expiration of the certificate of seaworthiness of the vessel.

In particular, if the operating license and registration documents of the vessel expire while the vessel is still at sea, the termination of insurance coverage may be postponed until the vessel reaches its first port, provided that the voyage is reasonably extended and the insurance company has been timely notified.

2. Renewal of the Insurance Contract: When the Insurance Certificate expires while the vessel is still at sea or in danger or seeking refuge at some place, the vessel can continue to be insured until it safely docks at the port, if the insurance company receives a timely renewal request and additional premium payment as required by the insurance company.

2. Extension of insurance contracts: When the insurance certificate has expired but the vessel is still at sea or in danger or has docked somewhere to seek refuge, the vessel may continue to be insured until it safely moors at the port, provided that the insurer receives the timely request for extension of the insurance contract and the additional insurance premium as required by the insurer.

Article 4: Insurance Liability:

The insurance company shall be liable to compensate for:

l) Total or partial loss occurring to the insured vessel or ship due to the following direct causes:

a/ Collision with other vessels, aircraft, land or water transport vehicles.

b/ Sinking, grounding, collision with rocks, submerged or floating objects, fixed or drifting objects, bridges, ferries, piers, dykes, dams, breakwaters, or port facilities.

c/ Fire or explosion on board the vessel or ship, or fire or explosion elsewhere causing damage to the vessel or ship.

d/ Jettisoning of property from the vessel or ship in necessary and reasonable circumstances.

e/ Disappearance.

f/ Earthquake, landslide, volcanic eruption.

g/ Storms, tsunamis, whirlwinds, hailstorms, or lightning strikes.

h/ Accidents occurring during loading, unloading, or moving aquatic products, goods, or raw materials while the vessel is moored at a wharf or port, or while the vessel or ship is moored, berthed, or undergoing repairs at a dockyard.

i/ Boiler explosion, shaft fracture, or hidden defect damage that cannot be detected by normal inspection.

k/ Negligence of the captain, officers, crew, pilot, or repairer provided that the repairer is not a party to the insurance.

2/ Necessary and reasonable expenses incurred in:

a/ Limiting losses, providing assistance, or rescue operations; litigation costs accepted in advance by the insurance company.

b) Inspecting and appraising damage or loss within the scope of insurance liability;

c/ Contributing to common loss expenses.

d) Inspecting the bottom of the vessel or ship after grounding, including cases where no loss is discovered.

3/ Extending the scope of insurance coverage:

The insurance company shall also be liable to compensate for losses suffered by the insured vessel or ship in the following situations:

a/ Towing and assisting other vessels or ships in distress. Any damages or losses occurring during this period shall only fall under the insurance liability for repair costs that the insured party cannot fully recover due to the assisted party's genuine inability to repay.

b/ The insured vessel or ship colliding with another vessel or ship owned by the same owner or managed by the same authority, or being rescued by such vessels or ships.

Article 5: Exclusions from Insurance:

A. THE INSURANCE COMPANY SHALL NOT BE LIABLE TO COMPENSATE FOR LOSSES TO THE BODY OF THE INSURED VESSEL OR SHIP IN THE FOLLOWING SITUATIONS:

1/ The vessel or ship is unable to operate, lacks operating permits, or operates outside the prescribed limits.

2/ Intentional actions by the insured party or their agents such as agents, representatives, captains, officers, or crew members.

3/ Violation of prohibitions issued by authorities or illegal business activities.

4/ Violation of state regulations on transportation safety, such as:

- Captains or engineers lacking the required certificates.

- Crew members on duty under the influence of alcohol, drugs, or similar stimulants.

- Vessels or ships lacking the required signals when in operation or at anchor.

- Vessels or ships entering prohibited channels or waters.

5/ Due to the hull, machinery, or equipment of the vessel or ship being excessively old or worn beyond the limit set by competent state authorities.

6/ The vessel or ship grounding due to tidal effects or water level changes while anchored.

7/ The vessel or ship being moored at a wharf, port, or any area without being securely moored or anchored, or crew members abandoning their posts.

B. THE INSURANCE COMPANY SHALL NOT ACCEPT INSURANCE AND SHALL NOT BE LIABLE FOR THE FOLLOWING EXPENSES, EVEN IF CAUSED BY COVERED RISKS:

1/ Expenses related to delays in the journey of the insured vessel or ship, devaluation of seafood products or goods, loss of market, or expenses related to the business operations of the insured vessel or ship.

2/ All expenses related to:

a/ Cleaning, painting the sides or bottom of the vessel or ship (excluding cleaning surface and repainting replacement parts covered by insurance).

b/ Wages and wage supplements or allowances for the crew, except in cases of common loss.

c/ Transporting the vessel or ship to a repair location unless it is done at the written request of the insurance company.

d/ Travel expenses and related costs incurred by the insured party or their authorized representative to collect claims or resolve incidents, excluding those costs already covered under Clause 2 of Article 4 above.

e/ Freight charges or ship rental fees.

C/ The insurance company shall not accept insurance (unless otherwise agreed in writing) and shall not be liable to compensate for any damage, loss, or expenses arising from:

1/ War risks or similar warlike risks.

2/ Being robbed or detained of the vessel or ship anywhere for any reason.

3/ The vessel or ship being requisitioned or used for military purposes.

4/ Acts of sabotage or terrorism of a political nature.

5/ Any explosion of weapons or explosives.

6/ Nuclear risks.

Article 6: Insurance Premiums and Payment Deadlines for Insurance Premiums:

1. Insurance Premiums:

The insurance company and the insured person shall implement insurance according to the insurance premium schedule issued together with Decision No.

128/1999/QĐ-BTC dated October 25, 1999, by the Minister of Finance.

In cases where the insured person requests to expand the scope of insurance coverage for additional risks, the insurance company may charge additional premiums corresponding to those risks.

2. The deadline for paying insurance premiums shall be agreed upon by both parties in the insurance contract. In cases where the insurance contract is currently valid and the payment period for insurance premiums has not yet arrived but the vessel suffers total loss, the insured person shall be responsible for paying the remaining insurance premiums to the insurance company within 15 (fifteen) days from the date the insured person notifies the insurance company of the total loss of the vessel.

Article 7: Refund of Insurance Premiums:

If the insured person requests to cancel the insurance contract in writing and informs the insurance company seven days in advance, the insurance company shall be responsible for refunding 80% of the paid insurance premiums corresponding to the cancellation period of the insurance contract, except in cases where an insurance event related to the vessel has occurred during the validity period of the insurance contract, in which case the insurance premiums will not be refunded. The refund shall be carried out immediately after the cancellation of the insurance contract.

If the vessel ceases operations for repair or is docked at a safe port or location approved by the insurance company for a continuous period of 30 days or more, the insurance company shall be responsible for refunding 50% of the paid insurance premiums for the period the vessel is not operating when the insurance year ends. If the vessel suffers total loss, the insurance premiums for the period the vessel is not operating will not be refunded.

Article 8: Responsibilities of the Insured Person:

1. When requesting insurance, the insured person shall be responsible for fully and truthfully declaring all contents in the insurance application form and submitting it to the insurance company three days before the insurance contract becomes effective.

2. Upon occurrence of an accident, the insured person shall be responsible for:

2.1 Taking immediate action to apply all necessary measures to rescue, protect people, means of transport, and property to prevent and limit losses.

2.2 Reporting promptly to the nearest local authority to establish a record in accordance with regulations and promptly informing the insurance company or its representative at the nearest location.

2.3 Completing all necessary procedures to preserve the right to claim and transfer the right to compensation to the insurance company.

2.4 Assisting the insurance company's appraiser in performing their appraisal duties and resolving the consequences of the accident quickly.

If the insured person fails to fulfill the above responsibilities, the insurance company may refuse to pay part or all of the compensation amount corresponding to the damage caused by the insured person's fault, except in cases where the insured person has legitimate reasons preventing them from fulfilling these responsibilities.

Article 9: Responsibilities of insurance enterprises:

1/ Insurance enterprises shall be responsible for:

- Providing policyholders with Rules and Premium Schedules related to ship and vessel hull insurance.

- Guiding and facilitating ship and vessel owners to participate in insurance.

2/ When the claim file is complete and valid, the insurance enterprise must examine and settle the claim within the claim settlement period specified in Point 3 of Article 17 below.

Article 10: Duplicate Insurance:

In cases of duplicate insurance for the same ship or vessel, the policyholder must immediately inform the insurance enterprise of the names of other duplicate insurance enterprises and the amount of insurance under each concluded insurance contract, except where otherwise stipulated in the insurance contract.

In cases of duplicate insurance, the responsibility of each insurance enterprise is determined according to the ratio between the amount of insurance of each insurance enterprise and the total amount of insurance of all insurance enterprises, and the insurance enterprises are only liable up to the value of the insurance. The policyholder has no right to reclaim premiums paid for the excess value.

Chapter II

SPECIFIC PROVISIONS

Article 11: Overinsurance and Underinsurance Compensation:

1/ Overinsurance occurs when the insured person purchases insurance coverage that exceeds the market value or replacement cost of the insured property at the time of concluding the insurance contract.

In cases of overinsurance due to fraudulent or intentional misrepresentation by the insured person when concluding the insurance contract, the insurance enterprise has the right to cancel the insurance contract and seek compensation for damages (if any), and the insured person has no right to reclaim premiums paid for the excess value.

In cases of overinsurance due to unintentional error by the insured person, the liability limit is determined based on the actual value of the insured object, and the insured person has no right to reclaim premiums paid for the excess value.

2/ Underinsurance occurs when the amount of insurance is less than the value of the insured property.

In cases of underinsurance, the insurance enterprise shall be liable for losses within the scope of insurance responsibility according to the ratio between the amount of insurance and the value of the insured property.

Article 12: Total Loss of Ship or Vessel Hull:

1/ Total loss of ship or vessel hull as defined in these Rules includes both actual total loss and constructive total loss:

a) Actual total loss is the loss when the ship or vessel is completely destroyed and cannot be restored, or when the ship or vessel is missing for more than three (3) months without receiving any news.

b) Constructive total loss is the loss when the ship or vessel is damaged to such an extent that it is inevitable that a total loss will occur, or when the total costs of repairs, salvage, and other expenses exceed the value of the insurance. In this case, if the policyholder requests abandonment of the ship, they must notify the insurance enterprise in writing. If the abandonment is not accepted, the insurance enterprise shall settle the partial loss within the scope of insurance responsibility.

2/ After compensating for the total loss of the ship or vessel hull, the insurance enterprise has the right to own, recover, and dispose of the ship or vessel, or not to assert rights and obligations against the wreck according to the law.

Article 13: Partial Damage to Vessel Hulls and Ships:

1. In all cases, except where there is a different written agreement, the insurance company shall be responsible for compensating each separate value of the parts repaired or replaced. After compensating for the replacement part, the insurance company has the right to own and recover that part.

2. In all cases, if the vessel or ship suffers partial damage that has not been repaired and subsequently suffers total loss during the validity period of the insurance contract, the insurance company shall only be responsible for compensating for the total loss.

Article 14: Deductible Amount:

a. The deductible rate is 2% of the compensation amount, with a minimum of 100,000 VND per case.

b. Claims for losses below the deductible amount specified above are not the responsibility of the insurance company.

c. In cases where the hull, shell, machinery, or equipment of the vessel or ship suffer damage due to negligence partially or entirely attributable to the captain, officers, or crew, in addition to the deductible amount stated on the insurance certificate, the insurance company may deduct an additional 10% of the amount already accepted for compensation.

This Article does not apply to total loss.

Article 15: Loss Appraisal:

Upon receiving notification of the loss and the appraisal request from the insured person or their representative, the insurance company or the person authorized by the insurance company will conduct an on-site appraisal with the presence of the captain, relevant witnesses, and the ship owner's representative to determine the cause, extent of damage, and loss.

The appraisal fee is paid by the party requesting the appraisal and will be reimbursed when compensation is processed if the loss falls within the scope of insurance coverage.

If the insured person disagrees with the appraisal result determined by the insurance company or the person authorized by the insurance company, both parties will agree to select an independent appraiser to conduct the appraisal. The conclusion of the independent appraiser is considered the final decision. If the conclusion of the independent appraiser differs from the insurance appraiser's conclusion, the insurance company must bear the appraisal costs. If the conclusion of the independent appraiser matches the insurance appraiser's conclusion, the insured person must bear the appraisal costs.

Article 16: Compensation File:

The compensation file includes the following documents:

1. The insured person's claim letter for compensation.

2. Insurance certificate.

3. Maritime protest, accident report, or loss report confirmed by the local authority where the accident occurred or the first port of arrival (if the accident occurs while the vessel or ship is underway).

4. Appraisal record of the insurance company or the person authorized by the insurance company, or the independent appraisal record agreed upon by both parties.

5. Certificate of vessel or ship disappearance issued by the competent authority (in cases of missing vessels or ships).

6. Accident report prepared by the local government or police (in cases involving accidents related to people, vessels, or third-party property).

7. Invoices and documents related to compensation claims.

8. Claim letters and all related documents from third parties (if applicable).

9. Other relevant documents (such as extracts from maritime logs, engine logs, weather logs, voyage logs, movement permits for fishing fleets, inspection certificates, seafarer qualifications, or other vessel documents, depending on the specific case).

After the insured person submits the aforementioned claim file to the insurance company, if within the next 30 (thirty) days the insurance company does not request any additional information, the claim file is considered complete and valid.

Article 17: Time limits for claims, payments, and compensation complaints:

1\. The time limit for the insured person to request compensation is one (1) year from the date of the accident, except in cases of delay due to objective and force majeure reasons.

2\. The time limit for claiming common losses is two (2) years from the date of the accident.

3\. The insurance company is responsible for paying compensation to the insured person or their legitimate heirs within sixty (60) days from the date of receiving complete and valid complaint documents from the insured person.

 

Chapter III

DISPUTE RESOLUTION

Article 18: Dispute Resolution:

Any disputes related to insurance contracts that are not resolved through negotiation between the parties shall be brought before the courts in Vietnam for resolution.

FEE TABLE

ALL-RISK INSURANCE FOR THE HULL OF FISHING VESSELS OPERATING IN OFFSHORE AREAS

(Issued pursuant to Decision No. 128/1999/QĐ-BTC dated October 25, 1999 of the Minister of Finance) 

Insurance premium (excluding value-added tax) is calculated as a percentage of the vessel's value.

1\. Wooden or cement wire mesh vessels:

From 90 HP to 99 HP: 2.30%

From 100 HP to 124 HP: 1.90%

From 125 HP to 134 HP: 1.60%

From 135 HP to 224 HP: 1.40%

From 225 HP to 249 HP: 1.25%

From 250 HP to 399 HP: 1.15%

From 400 HP to 599 HP: 1.00%

From 600 HP to 999 HP: 0.80%

1000 HP and above: 0.57%

2\. Iron, steel, aluminum alloy (Duyara), and synthetic plastic (Compozit) vessels:

From 90 HP to 99 HP: 2.00%

From 100 HP to 124 HP: 1.70%

From 125 HP to 134 HP: 1.40%

From 135 HP to 224 HP: 1.20%

From 225 HP to 249 HP: 1.10%

From 250 HP to 399 HP: 1.00%

From 400 HP to 599 HP: 0.90%

From 600 HP to 999 HP: 0.70%

1000 HP and above: 0.50%

3\. Additional insurance premium rates based on the age of the vessel:

Vessels under five years old: No additional charge

From six to eight years old: Additional charge of 0.30%

From nine to eleven years old: Additional charge of 0.60%

From twelve to fourteen years old: Additional charge of 1.00%

From fifteen to seventeen years old: Additional charge of 2.00%

Over seventeen years old: Additional agreement if insurance is accepted.

 

ETHICAL RULES

INSURANCE FOR FISHERMEN'S ACCIDENTS

PART I

GENERAL PROVISIONS

Article 1: Insured Object and Scope of Insurance:

1\. Insurance companies and fishermen working and living on fishing vessels are obligated to implement compulsory insurance for fishermen's accidents.

2\. Insured persons include the captain, first mate, chief engineer, second engineer, sailors, mechanics, and service staff working on fishing vessels.

3\. The scope of insurance covers unexpected accidents occurring in Vietnamese waters that result in death, bodily injury, or disappearance of the insured person.

The Insurance Certificate issued by the insurance company upon request of the insured party serves as evidence of the insurance contract between the insured party and the insurance company.

Article 3: Effectiveness of the Insurance Contract and Renewal of the Insurance Contract:

The insurance contract for fishermen's accidents may be signed in the form of a collective contract for enterprises, cooperatives, ship units, or individual contracts.

Article 3: Insurance Premium and Insurance Amount:

Insurance companies and insured persons must implement insurance according to the premium and insurance amount tables issued with Decision No. 128/1999/QĐ-BTC dated October 25, 1999.

Insurance companies may negotiate with insured persons to provide insurance at higher premium and insurance amounts or broader risk coverage according to insurance rules, premium tables, and insurance amounts approved by the Ministry of Finance.

Article 4: Effectiveness of insurance contracts:

The effectiveness of insurance contracts begins and ends according to the provisions set out in the insurance certificate. The insurance enterprise issues the insurance certificate when the insured person has paid the full insurance premium (unless otherwise agreed).

Article 5: Cancellation of Contracts:

In case of requesting cancellation of an insurance contract, the insured person must notify the insurance enterprise in writing at least 10 (ten) days prior. The insurance enterprise must refund 90% of the insurance premium for the period of cancellation. If during the validity period of the insurance contract, an insurable event occurs and the insured person requests cancellation of the insurance contract, the insurance enterprise shall not be responsible for refunding the paid insurance premium.

Article 6: Responsibilities of the Insured Person:

1. When making an insurance claim, the insured person must fully and truthfully declare all contents in the insurance application form.

2. The insured person must strictly comply with internal regulations, safety rules of the workplace, and other requirements for labor protection.

3. Upon occurrence of an accident, the insured person or their authorized representative must report to the competent state authority as prescribed and immediately provide all information about the accident to the nearest insurance enterprise.

4. In cases where the insured person or beneficiary is not truthful in implementing the provisions stipulated in this rule, the insurance enterprise may refuse to pay part or all of the insurance indemnity corresponding to the damage caused by the fault of the insured person or beneficiary.

Article 7: Responsibilities of Insurance Enterprises:

1. The insurance enterprise is responsible for:

- Providing seafarers with the Rules, Premium Tables, and insurance amounts related to seafarer accident insurance;

- Guiding and facilitating conditions for seafarers to participate in insurance.

2. When the indemnity payment claim file is complete and valid, the insurance enterprise must process and resolve within the indemnity payment resolution period specified in Point 1 of Article 11 below.

Chapter II

SPECIFIC PROVISIONS

Article 8: Payment of Insurance Indemnity:

1. Within the amount of insurance stated on the insurance certificate, the insurance enterprise is responsible for paying insurance indemnity in cases where the insured person dies or is injured due to an accident. The maximum amount of insurance indemnity payable in cases of death or total loss of working capacity is the insurance amount stated on the insurance certificate.

2. In cases where the insured person suffers from disability due to an accident, the amount of insurance indemnity payable is applied according to the Disability Proportion Payment Table issued together with Decision No. 05/TC/BH dated January 2, 1993 of the Minister of Finance.

The total of all expenses stipulated in this Article 8 in any case shall not exceed the insurance amount stated in the Insurance Certificate.

3. In cases where the insured person is missing while performing duties at sea, and the captain and ship owner have taken all measures to search and rescue but without success, and there is sufficient evidence proving that they are missing, the insurance indemnity payable shall be treated as in the case of death. If the insured person is found alive after the insurance indemnity has been paid, the beneficiary who received the insurance indemnity must return the entire amount of the insurance indemnity to the insurance enterprise.

Article 9: Exclusion from Insurance:

The insurance company shall not pay insurance money for accidents caused directly by the following reasons:

1. Intentional self-inflicted injury including suicide or attempted suicide of the insured person regardless of any circumstances or conditions.

2. Accidents occurring due to the insured person being affected by alcohol, drugs, or similar stimulants.

3. Due to illness or death or injury caused by disease.

4. Due to criminal acts committed by the insured person.

5. Due to war, strike, riot.

Article 10: Documents Required for Claiming Insurance Money:

When requesting the insurance company to pay insurance money, the insured person or beneficiary shall be responsible for submitting the following documents to the insurance company within thirty (30) days from the date the insured person recovers from illness or dies:

1. Request for payment of insurance money,

2. Insurance certificate or extract (copy) of the list of insured persons,

3. Accident report certified by the relevant authority, local government, or police where the accident occurred,

4. Medical treatment confirmation (discharge papers, treatment receipts, and other documents related to the treatment of the accident),

5. Death certificate and legal inheritance confirmation (in case of death).

In case the insured person authorizes another person to receive the insurance money, a valid power of attorney must be provided.

Article 11: Payment Period and Complaints about Insurance Money Payment:

1. The insurance company shall be responsible for paying insurance money to the insured person or beneficiary within fifteen (15) days from the date of receipt of all valid documents mentioned above.

In case of refusal to compensate, the insurance company must notify the insured person or beneficiary of the reasons for refusing compensation within the aforementioned period.

2. The time limit for complaints about the payment of insurance money by the insured person or beneficiary is sixty (60) days from the date the insurance company pays the insurance money or refuses to pay the insurance money. Any complaint beyond this period will have no validity.

 Chapter III

DISPUTE RESOLUTION

Article 12: Dispute Resolution:

Any disputes arising from the insurance contract, if unresolved through negotiation between the parties involved, shall be resolved by the court in Vietnam.

INSURANCE FEES AND INSURANCE MONEY FOR SEAFARER ACCIDENTS

(Annexed by Decision No. 128/1999/QĐ-BTC dated October 25, 1999 of the Minister of Finance)

1/ The amount of insurance is ten million dong per person per incident.

2/ The annual insurance premium is twenty-eight thousand dong per person.