How much is the Security Deposit for Enterprises Providing Overseas Labor Services?

According to Article 10 of Decree 38/2020/ND-CP, this content is regulated as follows:

Enterprises shall make a deposit of 1,000,000,000 VND (one billion Vietnamese Dong) at a commercial bank authorized to operate in Vietnam. The service enterprise's deposit shall be utilized according to the provisions in Clause 1 and Clause 2, Article 22 of the Law on Vietnamese Laborers Working Abroad under Contract. To be specific:

- The service enterprise's deposit as stipulated in Clause 4, Article 9 of this Law shall be used by competent state authorities to address issues arising in cases where the enterprise fails to fulfill or inadequately fulfills its obligations in sending laborers to work abroad.

- In the instance specified in Point b, Clause 3, Article 26 of this Law, the service enterprise's deposit shall be used by competent state authorities to settle obligations arising towards laborers up to the point of transfer; if there is surplus deposit, the enterprise is allowed to use it to settle other debts in accordance with the provisions of the bankruptcy law.

The above is the support content regarding the deposit of service enterprises sending laborers to work abroad.

Respectfully!