Regulation on contract of authorized collection of social insurance and health insurance premium in Vietnam

Accordingly, stipulates on contract of authorization for Social Insurance, Health Insurance of Vietnam collection with some contents of application as follows:

- Signing basis

+ Legal basis: Article 562 of the Civil Code of Vietnam regarding the authorization contract.

+ Based on the actual conditions and capacity of the services organizations to meet the requirements for collection of voluntary social insurance and health insurance premium.

+ Based on the target and plan for development of participants of voluntary social insurance and health insurance paid by Vietnam Social Insurance.

- Term of contract

+ The contract is valid for a maximum period of 02 years from the date of establishment.

+ The contract may be extended for a maximum period equal to the term of the contract already signed and may be extended only once.

- Guarantee for contract

+ A guarantee of contract is a commitment on responsibility for paying entire amount of voluntary social insurance, health insurance paid by themselves and interest (if any) in case the service organization lets the loss, insufficient payment, payment not in time as prescribed or cause damage to the participants of voluntary social insurance, health insurance paid by themselves or to the social insurance agency.

+ Contract guarantee shall be performed in the form of a letter of guarantee or guarantee contract of credit institutions in accordance with provisions of applicable laws.

The decision No. 1155/QD-BHXH comes into force from May 12, 2022 and replaces Decision No. 1599/QD-BHXH dated October 28, 2016.

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