1. Workers working abroad under contract:

Based on the above regulations, credit institutions are responsible for creating conditions for workers to borrow capital to work abroad under contracts. Accordingly, borrowing capital is carried out according to regulations and employees who want to borrow capital must also meet certain conditions.

Workers working abroad are Vietnamese citizens residing in Vietnam, meeting all conditions prescribed by Vietnamese law and the law of the country receiving workers working abroad according to regulations of the Law on Vietnamese Workers working abroad.

According to the provisions of Article 42 of the Law on Vietnamese Workers working abroad under contract, workers are allowed to work abroad when all of the following conditions are met:

– Have full civil act capacity;

– Voluntarily go to work abroad;

– Have a sense of compliance with the law and good moral character;

– Be healthy enough according to Vietnamese law and the requirements of the receiving country;

– Meet the requirements of foreign language proficiency, expertise, techniques, skills and other conditions as required by the receiving country;

– Be granted a certificate of necessary knowledge training;

– Not subject to a ban on leaving the country according to Vietnamese law.

– A contract to send workers to work abroad is a written agreement between an enterprise, a public service organization and a worker on the rights and obligations of the parties in sending workers to work abroad. foreign.

2. Borrowers:

– Representative of the employee's household;

– In case the employee is a single household, the loan will be given directly to the employee.

3. Loan conditions:

In addition to the current regulations on lending to customers of each credit institution, to receive a loan, employees must:

– There is a contract signed between the employee and the service enterprise on sending workers to work abroad.

– The representative of the employee's household or employee must open a deposit account at the bank where the loan is issued and commit to transferring the overseas worker's income to the account to repay the bank debt through the system. remittance transfer system of that bank.

4. Loan level:

– Credit institutions lend based on the ability to mobilize capital and the customer's loan needs; application of regulations on loan guarantees; The debt repayment ability of the employee and the employee's household determines the loan level.

– The maximum loan amount does not exceed 80% of the total legal expenses necessary for working abroad.

5. Loan term:

– Lending credit institutions and employees base on the employee's income level, the employee's household's ability to repay debt and the bank's capital capacity to agree on the credit contract. loan maturity date.

– The maximum loan term does not exceed the worker's working term abroad as stated in the contract signed between the worker and the service enterprise.

6. Loan currency:

– Loans in Vietnamese Dong (VND).

– Loan money is transferred directly to service businesses. In case the service enterprise has a written request, the bank branch where the loan is issued can issue the loan directly to the employee.

8. Loan guarantee:

* Loans do not need to be secured by assets

Loans not secured by assets and loans secured by assets for employees not covered by the policy are implemented as follows:

a) Credit institutions consider, decide and are responsible for their own decisions when lending without having to apply property security measures in case of lending through the employee's household. meet the prescribed conditions.

b) Commercial banks are allowed to consider, decide and take responsibility for their own decisions when lending up to 20 million VND without having to apply asset security measures in case of lending through households. families of rural workers, but that household does not meet the prescribed conditions.

* Loans secured by assets

Borrowing employees must take security measures with assets according to the provisions of law on loan security from credit institutions in the following cases:

a) Credit institutions provide loans to employees who do not fall under the above cases of loans that do not need to be secured by assets.

In case of loan through the employee's household that is secured by property, the loan security contract is signed between the credit institution, the representative of that household and the co-owners of the property. product.

b) In case the borrower is single.

In case of direct lending to single employees with property security, the loan security contract is signed between the credit institution and the employee or with the party authorized by the employee. according to regulations of the Law.

Note:

Workers who are eligible for loans to work abroad at the Bank for Social Policies do not have to mortgage their assets.

9. Loan documents:

To borrow capital, workers send the following documents to the lending credit institution:

– Household registration book, ID card of the borrower/valid passport of the borrower (Bank compares the original with the declaration on the loan application).

– Loan application form from the representative of the employee's household or the employee in case the employee is a single household.

– Document proving the employee going to work abroad (original):

+ In case a worker goes to work abroad through a Vietnamese enterprise that is allowed to provide labor under a contract signed with a foreign party, there must be a written notification or confirmation from the enterprise (or from affiliated unit assigned by the enterprise to export labor) regarding the employee being recruited to work abroad, or the contract signed with the employee by an enterprise with a license to operate in labor export. move to work abroad;

+ In case a worker goes to work abroad through an enterprise that contracts, contracts projects or invests abroad that uses Vietnamese workers, there must be a contract signed between that enterprise and the employee. labor;

+ In case the employee goes to work abroad under an individual labor contract directly signed by the employee with the employer abroad, the individual labor contract must be certified as registered. Signed at the Department of Labor, War Invalids and Social Affairs where the worker resides.