JOINT CIRCULAR No. 17/2007/TTLT/BLDTBXH-NHNN ON THE MANAGEMENT AND USE OF BONDS OF ENTERPRISES AND WORKERS GOING ABROAD FOR EMPLOYMENT UNDER CONTRACTS

JOINT CIRCULAR

stipulating the management and use of the deposit money of enterprises and workers going abroad to work under contracts 

Pursuant to the Law on Vietnamese Workers Going to Work Abroad Under Contracts dated November 29, 2006;

Pursuant to Decree No. 126/2007/NĐ-CP dated August 1, 2007 of the Government detailing and guiding the implementation of certain provisions of the Law on Vietnamese Workers Going Abroad to Work Under Contracts;

The Ministry of Labor - Invalids and Social Affairs and the State Bank of Vietnam hereby jointly issue detailed regulations on the management and use of deposit money of enterprises and workers going abroad to work under contracts as follows:

This technical regulation sets out technical requirements, testing methods, sampling procedures; management requirements; responsibilities of organizations and individuals producing, trading, and importing cigarettes.

Thông tư này quy định chi tiết khoản 4 Điều 38 Luật Thủy sản số 18/2017/QH14 đã được sửa đổi, bổ sung tại điểm c khoản 21 Điều 14 Luật số 146/2025/QH15.

This Circular stipulates the procedures for depositing, managing, and using deposit money of enterprises and workers going abroad to work under contracts.

Thông tư này áp dụng đối với tổ chức, cá nhân có liên quan đến hoạt động kinh doanh đối tượng thủy sản nuôi chủ lực trên lãnh thổ Việt Nam.

a) Enterprises engaged in service activities of sending workers abroad as prescribed in Article 8 and Enterprises sending workers abroad for advanced vocational training as prescribed in Article 34 of the Law on Vietnamese Workers Going Abroad to Work Under Contracts (hereinafter referred to collectively as enterprises);

b) Workers going abroad to work under contracts who are sent by service enterprises (hereinafter referred to as workers);

c) Commercial banks accepting deposits.

3. Enterprises shall make deposits in Vietnamese dong at the levels specified by the Government for each period; workers shall agree with service enterprises to make deposits in Vietnamese dong according to Article 23 of the Law on Vietnamese Workers Going Abroad to Work Under Contracts and the guidance of the Ministry of Labor - Invalids and Social Affairs. Deposits by enterprises and workers shall be made at commercial banks permitted to operate in Vietnam where the enterprise has its main office.

4. Interest rate on deposit funds

a) Enterprises making deposits shall receive interest on deposit funds from commercial banks accepting deposits at rates agreed upon by both parties, consistent with the interest rates for time deposits corresponding to the deposit term; if the enterprise withdraws deposit funds and closes the deposit account before the term, the interest rate applicable will correspond to the actual deposit term;

b) Workers directly or through service enterprises shall deposit their deposit funds into separate accounts opened by the enterprise at commercial banks to hold deposit funds of workers, which shall be paid interest by commercial banks accepting deposits at rates corresponding to the interest rates for time deposits corresponding to the deposit term; if workers withdraw deposit funds and close the deposit account before the term, the interest rate applicable will correspond to the actual deposit term.

II. DEPOSIT FUNDS OF ENTERPRISES

1. Making deposits

a) Enterprises shall make deposits to enable competent state authorities to consider issuing permits and ensure the operation of sending Vietnamese workers abroad to work or ensure the implementation of contracts for sending workers abroad for advanced vocational training;

b) Enterprises shall submit to the bank a request for opening a deposit account (Appendix Model 01);

c) The bank and the enterprise shall enter into a deposit agreement in accordance with this Circular and relevant laws, including the following contents: name and address of the enterprise and the bank; amount of deposit; interest rate on deposit funds; opening and using the deposit account; withdrawing deposit funds; refunding deposit funds; responsibilities of the parties and other agreements;

d) The bank shall record the deposited amount of the enterprise into the "Deposit in Vietnamese Dong" account under the third-level account "Guarantee for Other Payments," recording in detail for each enterprise customer and confirming the enterprise's deposit at the bank (Appendix Model 02);

đ) The enterprise shall submit a confirmation of deposit to the Overseas Labor Management Department or the Provincial Department of Labor - Invalids and Social Affairs (for contracts for sending workers abroad for advanced vocational training lasting less than 90 days).

2. Using deposit funds

In cases where workers must be repatriated due to death, occupational accidents, risks, occupational diseases, threats to life, or failure to ensure income and working conditions, food, and accommodation, but the enterprise does not implement such actions, the Director of the Overseas Labor Management Department or the Director of the Provincial Department of Labor - Invalids and Social Affairs (for contracts for sending workers abroad for advanced vocational training lasting less than 90 days) shall use the enterprise's deposit funds to cover the costs of repatriating workers.

3. Procedures and documents for withdrawing deposit funds

The Director of the Overseas Labor Management Department or the Director of the Provincial Department of Labor - Invalids and Social Affairs (for contracts for sending workers abroad for advanced vocational training lasting less than 90 days) shall issue a written request to the bank to allow withdrawal of deposit funds or to deduct from the enterprise's deposit account for the purposes specified in Clause 2, this Section.

Within 30 days from the date of withdrawal of deposit funds, the enterprise must replenish the required deposit level. If the enterprise fails to do so, the bank shall notify the Overseas Labor Management Department or the Provincial Department of Labor - Invalids and Social Affairs (for contracts for sending workers abroad for advanced vocational training lasting less than 90 days) to take appropriate measures in accordance with the law.

4. Closing the deposit account

a) The bank shall refund the deposit and close the account for service enterprises in the following cases:

- The Overseas Labor Management Department issues a written response stating that the enterprise does not meet the conditions for obtaining a permit to engage in the service of sending workers abroad to work;

- The Overseas Labour Management Department shall issue a letter to enterprises that do not meet the conditions for obtaining a license to operate overseas labour dispatch services, confirming that the enterprise has fully fulfilled its obligations towards workers under the overseas labour dispatch contracts and has made full contributions to the Overseas Employment Support Fund as prescribed by law;

- The Overseas Labour Management Department shall issue a letter confirming that the enterprise has ceased its activities of sending workers to work abroad and has fully fulfilled its obligations towards workers under the overseas labour dispatch contracts and has made full contributions to the Overseas Employment Support Fund as prescribed by law;

b) The bank shall refund the deposit and close the account for enterprises sending workers to work abroad under the advanced vocational training program when the Overseas Labour Management Department or the Department of Labour - Invalids and Social Affairs (for contracts with a duration of less than 90 days) issues a confirmation letter stating that the enterprise has completed the overseas labour dispatch contract and settled the contract signed with the worker;

III. WORKER DEPOSITS

1. Making deposits

a) Worker deposits must be clearly stated in the overseas labour dispatch contract and can only be implemented after the worker signs the contract with the enterprise and is accepted for employment or granted a visa by the foreign party;

b) The term of the worker's deposit corresponds to the term of the overseas labour dispatch contract signed between the enterprise and the worker;

c) Workers directly or through service enterprises deposit their deposits into the deposit account opened by the enterprise at the bank. In cases where workers deposit their deposits through enterprises, the enterprise must issue a receipt for the deposit to the worker and within no more than 15 days from receiving the worker's deposit, the enterprise must deposit the entire amount of the deposit into the bank account;

d) The bank records the worker's deposit into the "Vietnamese Deposit" account under the third-level account "Guarantee for Other Payments" and records it in detail according to each customer, which is the enterprise. Service enterprises are responsible for recording, monitoring, and managing the deposits of each worker;

2. Using deposit funds

If the worker violates the overseas labour dispatch contract, the enterprise has the right to request the bank to deduct funds from the worker's deposit account to compensate for losses caused by the worker's fault to the enterprise. In this case, the enterprise must present a reconciliation agreement with the worker or a court judgment that has taken effect. Any remaining deposit amount (if any) must be returned to the worker, if the deposit is insufficient, the worker must make up the difference;

3. Refund of Deposits

The bank shall refund the worker's deposit after deducting the amounts paid as stipulated in Clause 2, Section of this Article (if applicable) in the following cases:

a) The enterprise and the worker terminate the overseas labour dispatch contract (the worker completes the contract or returns home before the deadline);

b) The enterprise unilaterally terminates the overseas labour dispatch contract in accordance with Point d, Clause 1, Article 27 of the Law on Vietnamese Workers Going Abroad for Work Under Contracts;

c) The enterprise is dissolved or declared bankrupt;

d) The worker does not go to work abroad after submitting the deposit;

e) The enterprise fails to send the worker to work abroad after the worker has submitted the deposit;

4. Procedures and Documents for Refunding Deposits

a) For the cases mentioned in Points a, d, and e, Clause 3, Section of this Article: The enterprise shall submit a request for withdrawal of the deposit along with a termination agreement of the overseas labour dispatch contract with the worker, clearly stating the amount of the deposit to be refunded to the worker. In this case, the enterprise may authorize the worker to directly withdraw the deposit from the bank;

b) For the case mentioned in Point b, Clause 3, Section of this Article: The enterprise shall submit a request for withdrawal of the deposit along with a request from the worker or someone authorized by the worker regarding the refund of the deposit;

c) For the case mentioned in Point c, Clause 3, Section of this Article: The enterprise shall submit a request for withdrawal of the deposit along with a confirmation letter from the Overseas Labour Management Department regarding the dissolution or bankruptcy of the enterprise to transfer to another enterprise or to the Overseas Labour Management Department to handle the rights and obligations of the worker in accordance with Clause 3, Article 25 and Clause 3, Article 26 of the Law on Vietnamese Workers Going Abroad for Work Under Contracts;

IV. RESPONSIBILITIES OF THE BANK, ENTERPRISES, AND STATE MANAGEMENT AUTHORITIES

1. Responsibilities of the bank accepting deposits

a) Implement and guide enterprises in opening, using, and managing deposit accounts in accordance with this Circular and relevant laws;

b) Pay interest on the balance of deposits of enterprises and workers as stipulated in Clause 4, Section I of this Circular;

2. Responsibilities of enterprises

a) Report the situation of worker deposits as required by competent authorities;

b) Not to misuse deposits for purposes other than those prescribed by this Circular and relevant laws;

3. Responsibilities of the Overseas Labour Management Department

a) Guide enterprises and workers in implementing deposits in accordance with this Circular and relevant laws;

b) Coordinate with banks to implement refunds and closure of deposit accounts of enterprises as stipulated in Clause 3 and Clause 4, Section II of this Circular;

c) Inspect and handle violations within its authority or propose handling of violations in the management and use of deposits of enterprises and workers;

4. Responsibilities of the Department of Labour - Invalids and Social Affairs

a) Guide enterprises in implementing deposits in accordance with this Circular and relevant laws;

b) Inspect and handle violations within the authority or propose handling violations related to the management and use of the guarantee deposit of enterprises;

c) Coordinate with the Overseas Labor Management Department, labor management boards, or Vietnamese representative offices abroad, and banks in the use and settlement of the guarantee deposit accounts of enterprises in accordance with this Circular and relevant laws;

IV. IMPLEMENTATION

1. This Circular shall take effect fifteen days from the date of publication in the Official Gazette, superseding Circular No. 02/2004/TT-NHNN dated May 19, 2004 of the State Bank of Vietnam guiding the guarantee deposit at banks for enterprises engaged in overseas labor dispatch;

2. During implementation, if there are any difficulties, please report them to the Ministry of Labor, Invalids and Social Affairs and the State Bank of Vietnam for study and resolution./.