Circular 40/2014/tt-Nhnn: Escrow Instructions And Manage The Funds Of The Business Lease Back Labor

Original Language Title: Thông tư 40/2014/TT-NHNN: Hướng dẫn việc ký quỹ và quản lý tiền ký quỹ của doanh nghiệp cho thuê lại lao động

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Circular margin and escrow money management of the business lease back labor _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ The base of civil law in 2005;
The labor code bases, 2012;
Pursuant to the law the State Bank of Vietnam the number 46/2010/QH12 16 June 2010;
Pursuant to the law on credit institutions the number 47/2010/QH12 16 June 2010;
Pursuant to Decree No. 55/2013/NĐ-CP on 22 may 2013 detailing the Government's enforcement of paragraph 3 to article 54 of the labour law regarding the licensed rent back labor, escrow and listing the work made for hire back workers (hereinafter the Decree 55/2013/ND-CP);
Pursuant to Decree No. 154/2013/ND-CP DATED 11 November 2013 of government functions, tasks, powers and structure of the State Bank of Vietnam (hereinafter the Bank);
At the suggestion of Director payments;
The Governor of the State Bank issued a circular margin and escrow money management of the business lease back labor.
Chapter I GENERAL PROVISIONS article 1. Scope this guidance circular margin and escrow money management of the business lease back labor (hereinafter called business for rent) in commercial banks where open rental business transaction accounts (hereinafter the bank deposit receipt).
Article 2. Application object 1. The rental business.
2. the receiving bank deposit.
3. organizations and individuals related to escrow operations for rental back labor.
Chapter II SPECIFIC PROVISIONS of article 3. Lodging deposit and certificate of deposit 1. When businesses have filed requests for rent deposit into the account at the Bank, the Bank accepted the deposit and rental businesses perform escrow contracts consistent with the content of the provisions of this circular and related laws.
2. the escrow contract must have a minimum of the following: a) the name, address, representatives of business and rental of the bank deposit receipt;
b) amount deposited;
c) escrow deposit interest rates;
d) Pay interest on deposit;
DD) using the deposit;
e) Withdraw funds;
g) escrow refund;
h) liability of the parties concerned.
3. After receiving a sufficient amount deposited in accordance with paragraph 1 article 16 Decree 55/2013/ND-CP, the Bank received certificate of deposit escrow money back rental business enterprise labor for hire according to the form prescribed in annex III attached Decree 55/2013/ND-CP. Article 4. Managed funds 1. The Bank accepted the deposit is responsible for the blockade of the entire amount deposited and managed in accordance with the provisions of the Decree 55/2013/ND-CP and the provisions of the escrow law.
2. get quote escrow Bank escrow amount of business to rental payments, compensation in the case prescribed in clause 4 Article 22 the Decree 55/2013 issued. 3. The receiving bank deposit monitor the use of funds of the business lease as prescribed by law. The case escrow account balance is lower than the specified level, the bank deposit receipt must notify the rental business filed full supplement funds according to regulations. Within 30 days from the date the money was removed from the escrow account, if businesses don't hire full additional deposit, the bank deposit receipt is responsible for timely notification to the Ministry of labor, invalids and Social Affairs to take measures to handle.
4. Quarterly, at the latest on the 15th of the first month of the following quarter, the Bank accepted the deposit report Ministry of labor, invalids and Social Affairs and the State Bank of the situation get business funds for hiring back workers in its banking system, according to the model in annex IV attached to Decree 55/2013/ND-CP article 5. Escrow deposit interest rates and pay interest on escrow deposits 1. The rental business is getting interest escrow Bank for escrow deposits balance according to the interest rate agreement by the two parties consistent with the provisions of the deposit interest rate by the State Bank of Vietnam bronze in each period.
2. On the basis of the agreement on the interest rate from funds in escrow contracts between businesses and banks to receive funds, the bank interest for the balance of the deposit and pay the deposit for the rental business according to the agreement.
Article 6. Cash depositing procedure 1. The rental business when required to cash out escrow for use in the cases specified in article 20, Decree 55/2013/ND-CP perform the procedure as follows: a), submit a written proposal and Bank vouchers to cash out escrow in the form of the bank deposit receipt;
b) present text of Minister of labor, invalids and Social Affairs to allow businesses to rent escrow refunds;
c) produce identification document (identity card or passport to the longer time limit) of people cash out escrow is the legal representative of the rental business. The case of the withdrawal is the person authorized shall present more authorized text.
2. the receiving bank of responsible escrow check vouchers to cash out escrow and the text, required documents listed above, if legitimate, valid in the Bank for business made rental deposit withdrawals.
Article 7. Escrow refund procedure 1. The rental business as requested by the receiving bank to refund escrow deposit procedure is performed as follows: a), submit a written proposal and Bank vouchers escrow refund according to the model of the bank deposit receipt;
b) present text of Minister of labor, invalids and Social Affairs as stipulated in article 19 of the Decree 55/2013/ND-CP;
c) produce identification document (identity card or passport to the longer time limit) of the legal representative of the rental business. Case the person authorized shall present more authorized text.
2. the receiving bank of responsible escrow check vouchers and other documents, required documents listed above, if legitimate, valid, then make the escrow deposit for the rental business.
Chapter III the TERMS of the IMPLEMENTATION of article 8. The responsibility of the relevant units in Bank 1. The payment service is responsible for monitoring, General report on the situation to get the deposit back to the rental business of the bank deposit receipt, periodic reports to the State Bank Governor.
2. Inspection bodies, monitoring State Bank, Bank branch, central cities are responsible for coordinating inspections, to check the situation of the funds management business for rent in banks under the provisions of this circular and related laws.
Article 9. Effective enforcement of this circular effect since January 2, 2015.
Article 10. Organizing Chief, Director of payment, Chief Inspector, bank supervision, the heads of the relevant units in the State Bank, Director of the State Bank of India branch of the province, central cities; Chairman of the Board, the Chairman of the Board, General Director (Manager) of commercial banks; General Manager (Director) labor back rental business is responsible for organizing the implementation of this circular.