Escrow Deposit for Kuwaiti Foreign Placement Agencies Hiring Domestic Workers

July 26, 2018POEA MEMORANDUM CIRCULAR NO. 010-A-18TO:All Foreign Placement Agencies and Philippine Recruitment Agencies Hiring and Deploying Domestic Workers to Kuwait   SUBJECT:Escrow Deposit for Kuwaiti Foreign Placement Agencies Hiring Domestic Workers Pursuant to Section 96 (B.5) of the Revised POEA Rules and Regulations Governing the Recruitment and Employment of Landbased Overseas Filipino Workers of 2016, and Governing Board Resolution No. 10, Series of 2016, all Foreign Placement Agencies hiring domestic workers to Kuwait are required to put up an escrow deposit with a bank authorized by the Bangko Sentral ng Pilipinas to handle trust accounts. A. Coverage and PurposeAll Foreign Placement Agencies (FPA) hiring domestic workers to Kuwait requesting for accreditation with a Philippine Recruitment Agency (PRA) including those renewing their accreditation shall comply with the escrow requirement. If the FPA is accredited or to be accredited to more than one (1) PRA, it needs to put up only one (1) escrow deposit.The escrow deposit shall answer for all valid and legal claims arising from the violation of the employment contracts with the workers. The...