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

JOINT CIRCULAR

REGULATIONS ON MANAGEMENT AND USE OF SECURITY DEPOSITS OF ENTERPRISES AND SECURITY DEPOSITS OF WORKERS GOING TO WORK ABROAD UNDER CONTRACTS

Pursuant to the Law on Vietnamese Workers Going Abroad Under Contract 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 to Work Abroad Under Contracts;
The Ministry of Labor, Invalids and Social Affairs and the State Bank of Vietnam hereby issue detailed regulations on the management and use of security deposits of enterprises and security deposits of workers going to work abroad under contracts as follows:

I. GENERAL PROVISIONS

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 making security deposits, managing, and using security deposits of enterprises and workers going to work abroad 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 provision for sending workers to work abroad as prescribed in Article 8 and enterprises sending workers to work abroad through advanced vocational training programs as prescribed in Article 34 of the Law on Vietnamese Workers Going to Work Abroad Under Contracts (hereinafter referred to collectively as enterprises);

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

c) Commercial banks accepting security deposits.

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

4. Interest rate on security deposits

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

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

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

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

c) The bank and the enterprise shall enter into a security 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 the security deposit; interest rate on security deposits; opening and using the security deposit account; withdrawing the security deposit; refunding the security deposit; responsibilities of the parties and other agreements;

d) The bank shall record the amount of the security deposit made by the enterprise into the "Security Deposit in Vietnamese Dong" account under the third-level account "Guarantee for Other Payments," detail the records for each enterprise customer, and confirm the enterprise's security deposit at the bank (Appendix 02 model);

đ) Enterprises shall submit the confirmation of the security deposit to the Overseas Labor Management Department or the Provincial Department of Labor, Invalids and Social Affairs (for contracts for sending workers to work abroad through advanced vocational training programs lasting less than 90 days).

2. Using Security Deposits

3. Procedures and Documents for Withdrawing Security Deposits

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 to work abroad through advanced vocational training programs lasting less than 90 days) may issue a document requesting the bank to allow withdrawal of the security deposit or deduct funds from the enterprise's security deposit account for use in the matters specified in Clause 2 of this Section.

4. Closing the Security Deposit Account

The Director of the Overseas Labor Management Agency or the Director of the Department of Labor - Invalids and Social Affairs (for overseas labor dispatch contracts for vocational skill enhancement internships with durations under ninety days) shall issue a document requesting the bank to release the deposit money or withdraw from the deposit account of the enterprise for the purposes specified in Clause 2, this Subsection.

Within thirty days from the date of withdrawing the deposit, the enterprise must top up the deposit to the required level as prescribed. If the enterprise fails to comply, the bank shall send a notification letter to the Department of Overseas Labor Management or the Provincial Department of Labor, Invalids and Social Affairs (for overseas labor dispatch contracts for vocational training with a duration under ninety days) to take appropriate measures in accordance with the law.

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

b) The bank shall refund the security deposit and close the account for enterprises sending workers to work abroad through advanced vocational training programs when the Overseas Labor Management Department or the Provincial Department of Labor, Invalids and Social Affairs (for contracts lasting less than 90 days) issues a document confirming that the enterprise has completed the contract for sending workers to work abroad and terminated the contract signed with the worker.

- The Department of Overseas Labor Management issues a response letter informing that the enterprise does not meet the conditions to be granted a license for overseas labor dispatch services.

- The Department of Overseas Labor Management issues a response letter informing that the enterprise does not meet the conditions to be granted a renewal of the license for overseas labor dispatch services and confirms that the enterprise has fully fulfilled its obligations towards workers under the overseas labor dispatch contracts and has made full contributions to the Overseas Employment Support Fund as prescribed by law.

- The Department of Overseas Labor Management issues a confirmation letter stating that the enterprise has ceased operations in overseas labor dispatch and has fully fulfilled its obligations towards workers under the overseas labor dispatch contracts and has made full contributions to the Overseas Employment Support Fund as prescribed by law.

In cases where workers must be repatriated from abroad due to instructions from competent state authorities because the workers have died, suffered workplace accidents, unexpected risks, occupational diseases, threats to life, or inadequate income and working conditions but the enterprise does not implement such repatriation, 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 to work abroad through advanced vocational training programs lasting less than 90 days) may use the enterprise's security deposit to cover the costs of repatriating workers.

III- DEPOSIT OF WORKERS

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

a) The worker's deposit must be clearly stated in the overseas labor dispatch contract and can only be implemented after the worker signs the contract with the enterprise and is accepted for employment or visa issuance by the foreign party.

b) The deposit period of the worker corresponds to the term of the overseas labor dispatch contract signed between the enterprise and the worker.

c) The worker directly or through the service enterprise deposits the deposit into the deposit account opened by the enterprise at the bank. In case the worker deposits the deposit through the enterprise, the enterprise must issue a receipt for the deposit to the worker and within fifteen days from the date of 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 in the "Deposit in Vietnamese Dong" account under the third-level account "Guarantee for Other Payments" and records it in detail according to each customer, which is the enterprise. The service enterprise is responsible for recording, monitoring, and managing the deposit of each worker.

3. Procedures and Documents for Withdrawing Security Deposits

In case the worker breaches the overseas labor 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 successful mediation document with the worker or a court ruling that has taken effect. Any excess 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 Deposit

The bank refunds 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 labor dispatch contract (the worker completes the contract or returns home before the deadline).

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

c) The enterprise is dissolved or declared bankrupt.

d) The worker does not go abroad to work after paying the deposit.

e) The enterprise cannot send the worker abroad to work after the worker has paid the deposit.

4. Procedures and Documents for Refunding the Deposit

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

b) For the case mentioned in Point b, Clause 3, Section of this Article: The enterprise submits 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 submits a request for withdrawal of the deposit along with a confirmation letter from the Department of Overseas Labor Management regarding the dissolution or bankruptcy of the enterprise to transfer to another enterprise or to the Department of Overseas Labor Management 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 Employment Under Contracts.

IV- RESPONSIBILITIES OF THE BANK, ENTERPRISE AND STATE MANAGEMENT AGENCIES

1. Responsibilities of the Bank Receiving Deposits

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

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

2. Responsibilities of Enterprises

a) Report the situation of workers' deposits as required by competent authorities.

b) Not to misuse the deposit for purposes other than those prescribed by this Circular and relevant laws.

3. Responsibilities of the Department of Overseas Labor Management

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

b) Coordinate with banks to implement the refund and final settlement of the deposit account 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 measures to address violations in the management and use of deposits by enterprises and workers.

4. Responsibilities of the Department of Labor, Invalids and Social Affairs

a) Guide enterprises to implement the deposit guarantee in accordance with the provisions of this Circular and relevant laws;

b) Inspect and handle violations within its authority, or propose measures to address violations related to the management and use of deposit guarantees by enterprises;

c) Coordinate with the Overseas Labor Management Agency, labor management boards, or Vietnamese representative offices abroad, and banks in the use and settlement of enterprise deposit accounts in accordance with the provisions of this Circular and relevant laws.

IV- IMPLEMENTATION

1. This Circular takes 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 deposit guarantee at banks for enterprises engaged in labor export activities.

2. Any difficulties encountered during implementation should be reported to the joint office of the Ministry of Labor, Invalids and Social Affairs and the State Bank of Vietnam for research and resolution.