Procedural Guidelines on the Provision of Financial Security (Maritime Labour Convention, 2006)

February 15, 2018DOLE DEPARTMENT ORDER NO. 181-B-18PROCEDURAL GUIDELINES ON THE PROVISION OF FINANCIAL SECURITY IN COMPLIANCE WITH THE AMENDMENTS IMPLEMENTING REGULATIONS 2.5 AND 4.2 AND APPENDICES OF THE MARITIME LABOUR CONVENTION, 2006 (MLC, 2006)Pursuant to Department Order No. 181, Series of 2017 or "Guidelines on the Provision of Financial Security in Compliance with the Amendments Implementing Regulations 2.5 and 4.2 and appendices of the Maritime Labour Convention, 2006 (MLC, 2006)" and Department Order No. 181-A, Series of 2018 or "Extension on the Grant of Dispensation relative to the Provision of Financial Security in Compliance with the Amendments Implementing Regulations 2.5 and 4.2 and Appendices of the Maritime Labour Convention, 2006 (MLC, 2006)," the following procedural guidelines are hereby issued for the guidance of all Philippine Overseas Employment Administration (POEA) licensed manning agencies, shipowners, principals/employers, and accredited Philippine overseas shipping enterprises engaged in international voyage: 1. The Financial Security shall be in the form of insurance arrangements.2. Philippine registered ships (PRS) in overseas trade are required to carry onboard the valid financial security certificate(s) by a...