Question & AnswerQ&A (POEA MEMORANDUM CIRCULAR NO. 69)
The purpose is to require OCWs to post a repatriation bond to ensure their prompt repatriation and prevent them from getting stranded due to employment termination for cause.
It applies to all departing land-based OCWs with employment contracts of at least six months under licensed agencies, government-to-government hiring arrangements, name hires, and workers recruited through the Administration for foreign employers as policy dictates.
Seafarers and balik-manggagawa (vacationing OCWs) are exempted from the repatriation bond requirement.
The maximum coverage shall not exceed P20,000.
No, for countries like Japan, Hong Kong, Singapore, Malaysia, Brunei, Thailand, India, the Trust Territories, and similar areas where return airfare does not exceed P10,000, the coverage shall be at least P10,000.
The premium rate is a maximum of 1.75% per annum or P350.00 per year exclusive of tax and notarial fee for a P20,000 coverage.
The departing OCW or licensed agency shall pay the premium at the repatriation bond center.
Individual Certificates of Coverage must be secured from the Repatriation Bond Center and presented during processing.
It accepts premium payments, issues receipts and certificates, keeps computerized files of OCWs with bonds, submits monthly reports to POEA and OWWA, and settles claims within 15 days after complete document submission.
No, licensed agencies are prohibited from requiring cash deposits from workers for guaranteeing contract performance.