Premium Rates, Payment, and Cash Deposit Guidelines
- Maximum annual premium rates are Php 198.50 for the Php 11,000 bond and Php 377.00 for the Php 22,000 bond.
- Premium payments are equally shared by the OCW and employer or their agent.
- Premium rates may be adjusted periodically based on actual experience and agreed upon by OWWA and the designated bonding company.
- Applications and payments for the bond are to be made at designated centers established by POEA and the bonding company, or through licensed agencies transmitting applications to these centers.
- Licensed recruitment agencies are prohibited from requiring cash deposits as contract performance guarantees from workers.
Designation and Role of the Bonding Company
- A bonding company is designated to manage and administer the repatriation bond system.
Documentation and POEA Oversight
- Proof of premium payment must be presented to the POEA before processing the overseas employment contract or certificate.
- POEA supervises proper implementation of the repatriation bond requirement.
- The bonding company must provide monthly summary reports to POEA and OWWA.
Repatriation Procedures and Claims Processing
- When repatriation is needed, OWWA endorses requests to the bonding company.
- The bonding company shall issue prepaid ticket advice (PTA) within 24 hours to the OCWs through Philippine embassies, consulates, or POLO offices abroad.
- If repatriation expenses were advanced by the OCWs or OWWA, claims for reimbursement are filed with the bonding company.
- The bonding company is required to process claims within five working days from the submission of required documents.
Effectivity and Supersession
- The provisions of this order take effect on May 28, 1995.
- This order supersedes all earlier inconsistent issuances regarding repatriation of OCWs.
- Strict compliance is mandated by the POEA Acting Secretary.