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Republic Act No. 7111· Enacted 1991-08-22

Overseas Workers' Investment Fund (OWI Fund) Philippines 1991 — BatasKo ELI5

Ano ang OWI Fund Act? Alamin kung paano nito binibigyan ng incentives ang mga OFW at kung paano ito nagpababa ng utang ng Pilipinas.

ELI5OFW Rightsofwremittanceinvestment

Official text — Republic Act No. 7111

Jump to section ↓16 sections

Preamble

Eighth Congress

REPUBLIC ACT No. 7111 August 22, 1991

AN ACT ESTABLISHING THE OVERSEAS WORKERS' INVESTMENT FUND TO PROVIDE INCENTIVES TO OVERSEAS WORKERS, REDUCE THE FOREIGN DEBT BURDEN, AND FOR OTHER PURPOSES

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1

Section 1.

Short Title.

– This Act shall be known as the

"

Overseas Workers' Investment (OWI) Fund Act.

"

Section 2

Section 2.

Declaration of Policy.

– It is the policy of the State to protect and promote the welfare of Filipino overseas workers; to pioneer and develop innovative means to provide incentives; and to uplift the workers' families' living standards. It is likewise the policy of the State to reduce the foreign debt burden in order to better achieve sustained economic growth by way of tapping the unofficial and informal remittances of said workers.

Section 3 — Scope.→

Section 3.

Scope.

– This Act shall apply to all Filipino citizens overseas, who are workers duly registered with the Philippine Overseas Employment Administration (POEA) and/or the Commission on Filipino Overseas (CFO), and their beneficiaries in the Philippines: provided, that the additional benefits as enumerated in Section 8 of this Act shall not apply to Filipinos overseas, as defined in Section 2 of Batas Pambansa Blg. 79, who have already acquired immigrant status in their host countries: provided, further, that the participation of Filipinos overseas, as defined in Batas Pambansa Blg. 79, in the remittance programs under this Act shall be limited to the first two (2) years of operation of said programs effective from the date of publication of the implementing rules and regulations of this Act.

The participation of said overseas workers shall not exceed their total salaries or earnings for the period, counting from the effectivity of this Act.

Section 4 — Overseas Workers' Investment Fund Board.→

Section 4.

Overseas Workers' Investment Fund Board.

– There is hereby created the Overseas Workers' Investment (OWI) Fund Board, which is hereby vested with corporate powers in accordance with existing laws, to encourage the greater remittance of earnings of Filipino workers overseas and to safeguard and oversee the participation of said workers' remittances and savings in the Government's debt-reduction efforts and other productive undertakings. The Board shall be composed of the following as members:

(1) The Secretary of the Department of Labor and Employment;

(2) The Secretary of the Department of Finance;

(3) The Governor of the Central Bank of the Philippines;

(4) The Administrator of the Philippine Overseas Employment Administration; and

(5) One (1) representative of the overseas workers to be appointed by the President who shall receive a per diem of One thousand pesos (P1,000.00) for every OWI Fund Board meeting attended.

The Secretary of the Department of Labor and Employment shall serve as the Chairman of the Management Board.

All ex officio members of the Board shall receive no additional compensation or remuneration from the OWI Fund.

The President shall appoint the members of the Board within, thirty (30) days from the approval of this Act.

The Board shall within forty-five (45) days from the appointment of its members promulgate such rules and regulations as may be necessary to implement the provisions of this Act. In addition, the Board shall adopt the bylaws of the Fund and set the date, time and place of regular Board meetings. The Board shall enter into necessary trust agreements and establish the essential organizational support, hire and oversee highly competent personnel and/or existing institutions to implement the appropriate operating systems, plans, modern and efficient communication networks and the other provisions of this Act.

The Board shall report to the President and to Congress the progress of its tasks and business on a semiannual basis.

Section 5 — Powers/Functions of the OWI Fund Board.→

Section 5.

Powers/Functions of the OWI Fund Board.

– The OWI Fund Board shall have the following powers and functions:

(1) To encourage the greater participation of Filipino overseas workers in official remittance schemes by way of:

(a) Assuring the prompt and safe delivery of such remittances to the workers' beneficiaries by processing these within forty-eight (48) hours at the most and by maintaining a reliable express communication and delivery systems;

(b) Developing a network/consortium of commercial banks to maximize the use of their resources in serving the remittance and other transaction needs of the overseas workers;

(c) Adopting an appropriate technology or system which will expedite the delivery of participatory debt reduction certificates (PDRCs) to the beneficiaries;

(d) Providing for reasonable charges and fees for the remittance services of participating financial institutions, agents, courier services, etc.; and

(e) Enlisting the support of various government agencies in information and marketing campaigns concerning its remittance services and other programs, and enhancing their capability through financial and other kinds of support;

(2) To accredit, in conjunction with the Central Bank, domestic as well as foreign financial and other institutions, money couriers, and communication organizations and delivery services, etc. as official foreign exchange remittance centers/collection agents or official couriers;

(3) To issue special receipts through accredited financial institutions or certified couriers abroad as evidence of Government's guarantee for the workers' foreign exchange remittances;

(4) To pool the remittances of overseas workers coursed through accredited money couriers and other informal channels to be used in debt-for-note arrangements, including leveraged debt paper purchases, and to participate in international secondary financial markets by purchasing Philippine debt papers within the limits set forth in Section 6 hereof;

(5) To forward purchased debt papers to the Central Bank and/or any other concerned original borrowing agency/obligor in exchange for their agreement to back up and/or underwrite specific issues of negotiable certificates to be known as the participatory debt reduction certificates (PDRCs). The OWI Fund Board may decide to share with the original obligors up to forty percent (40%) of the discounts gained on debt papers: provided, that this does not undermine the viability of the OWI Fund remittance/investment program in the long run. Likewise, the OWI Fund Board may decide to reduce the interest rates on the remaining portions (net of discount sharing with the original obligors) of the loans purchased;

(6) To pool the peso equivalent of remittances of overseas workers coursed through the banking system, establishing therewith a peso loan and investment fund, which may be entrusted to a particular bank for purposes of lending and/or investing, especially into productive concerns of overseas workers and their families, small business entities, etc.;

(7) To issue PDRCs to the workers' beneficiaries through accredited local financial institutions, money couriers, and communication and delivery services acting as official couriers;

(8) To accept and administer trust funds which shall then be guaranteed by the Republic of the Philippines;

(9) To ensure that the workers shall remit only a maximum amount equal to the average earnings of their occupational group in their host countries;

(10) To adopt measures and/or penalties to ensure the integrity of the OWI Fund remittance system and investment funds;

(11) To cause the conduct of periodic surveys about the condition of workers and workers' remittances;

(12) To ensure that the debt conversions that will be undertaken shall abide by the special guidelines of the Central Bank on debt redemption to be issued for purposes of this Act;

(13) To administer the funds and other property under its custody with the skill, care, prudence, and diligence of a prudent man engaged in similar business affairs and with objectives similar to those of the trust in question; and

(14) To adopt, amend or change its bylaws; to adopt, alter, or use a seal; to enter into contracts; to sue and be sued; and to exercise the general powers of a corporation.

Section 6 — Debt Purchase Guidelines.→

Section 6.

Debt Purchase Guidelines.

– In buying Philippine foreign debt papers pursuant to the debt-for-note scheme, the OWI Fund Board shall observe the following guidelines and standards:

(1) Priority shall be given to Philippine foreign debt papers where the loan proceeds were actually utilized in projects, programs and balance of payments financing which benefited the Filipino people;

(2) Loans categorized by law or pronounced by the President pursuant to the recommendation of the Joint Legislative-Executive Foreign Debt Council as immoral, odious, and/or illegal shall not be subject to the debt-for-note scheme;

(3) Foreign indebtedness which are subject to any pending litigation or repudiation shall not be subject to any debt conversion or reduction arrangements;

(4) Only debt papers having a minimum discount rate of thirty-five percent (35%) shall be considered for debt-for-note this Act; and

(5) Only remittances coursed through the nonfinancial entities and money couriers shall be utilized for debt conversion. Such remittances coursed through the financial institutions shall be used as loan and investment funds that will give priority to the needs and concerns of overseas workers and their families. Said loan and investment funds may also be utilized to finance the needs of small business enterprises: provided, that the workers' funds are one hundred percent (100%) guaranteed by the Government.

Show 9 more sections +→
Section 7 — Investment Instrument.→

Section 7.

Investment Instrument.

– The participatory debt reduction certificate (PDRC) shall be a negotiable government security guaranteed by the Republic of the Philippines to be issued in any of the following denominations: US$ 100, $200, $300, $400, $500, $1,000 and $2,000, redeemable in Philippine pesos at the full value of the Central Bank buying rate one (1) day prior to redemption. It shall automatically bear an interest rate which shall be reckoned based on the quarterly average of the London Interbank Offered Rates (LIBOR) plus one percent (1%), to be determined at the end of each quarter but payable at the end of each semester, and shall have a maturity of five (5) years from the date of issuance.

The PDRC shall incorporate a tax-free premium over and above the face value of the same certificate, the percentage of which shall be fixed at one-half (1/2) of the numerical value of the discount of the purchased debt papers at the time of the remittance. The premium shall not earn interest.

The holder of a PDRC shall be entitled to receive in cash one-fifth (1/5) of the premium rate, which shall be stamped on the PDRC upon issuance, at the end of every one (1) full year from the date of issue of the certificate.

The PDRCs shall be directly and immediately released/delivered to the beneficiaries.

At the option of the remitting worker or his beneficiary in the Philippines, the PDRC may be exchanged for cash at face value at the official exchange rate with any of the accredited financial institutions, used as collateral for loans with concessional interest rates, sold to any investor, or kept to earn market interest rates.

Section 8 — Additional Incentives.→

Section 8.

Additional Incentives.

– At the end of each calendar quarter, after providing for the settlement of all accounts payable and other obligations of the Fund and other charges of the Central Bank, the balance of the gains/proceeds in the OWI Fund shall be used in providing for the following, which shall accrue to the original holder:

(1) Four-year scholarship grant in favor of a worker of any member of his family if said worker has remitted under the OWI Fund system Ten thousand dollars (US$10,000.00) worth of PDRC with a continuous two-year period: provided, that such grant shall conform to the set minimum academic standards of the school attended; that the grantee shall undergo six-month apprenticeship training before graduation; and that any remaining unused period of the four-year scholarship may be transferable to other qualified beneficiaries of said worker;

(2) Housing program for overseas workers;

(3) Credit facility for overseas workers who may want to engage in business enterprises and/or livelihood projects: provided, that the participating overseas workers shall be entitled to borrow up to twenty-five percent (25%) of the amount remitted at concessional interest rates to be determined, and subject to such guidelines to be promulgated, by the OWI Fund Board;

(4) Health/hospitalization insurance for the family of the workers for the duration that the worker continuously holds on to at least Two thousand dollars (US$2,000.00) worth of PDRC;

(5) Raffles of airline tickets, appliances, and other items for all who have remitted under the OWI Fund; and

(6) Other programs that will benefit the workers.

The gains from debt conversion arrangements and profitable investments of the peso loan funds shall be the primary sources of funding for the incentives and benefits granted to the overseas workers, and of the investment operations of the OWI Fund programs, including the provision of reasonable returns to the other participants and the possible placements in investment ventures/opportunities with comparatively high returns and minimal risk.

Section 9 — Coordinating Agencies.→

Section 9.

Coordinating Agencies.

– The following agencies of the Government shall provide complementary support services to the OWI Fund as follows:

(1) The Central Bank (CB) shall formulate and implement the guidelines for a special debt-for-note conversion program exclusive to the OWI Fund;

(2) The Philippine National Bank (PNB) and other financial institutions shall serve as remittance and redemption conduits of PDRCs and shall ensure the immediate purchase or conversion of the same, or redemption of the equivalent cash at face value upon the request of the overseas worker's beneficiary;

(3) The Department of Labor and Employment (DOLE) and the Philippine Overseas Employment Administration (POEA) shall assist the Fund by providing and updating the list of duly registered overseas workers and their beneficiaries;

(4) The Overseas Workers Welfare Administration (OWWA), the Commission on Filipinos Overseas (CFO) and the Philippine Overseas Employment Administration (POEA) shall conduct intensive marketing and information campaigns regarding the remittance system of the OWI Fund through:

(a) Pre-departure orientation seminars to overseas workers;

(b) Information desks of the coordinating agencies of the OWI Fund;

(c) Mass media campaigns; and

(d) Strengthening its linkages with accredited financial and other institutions.

Section 10 — Contingency Measures.→

Section 10.

Contingency Measures.

– To ensure the continuity of the grant of premium and incentives to the overseas workers in cases of unavailability of debt papers in the international secondary market and the discount rate of Philippine debt paper falling to such levels that may impair the viability of the OWI Fund in the short run:

(1) The OWI Fund shall set aside five (5) percentage points of the discounts of the debt papers purchased as a reserve/contingency fund;

(2) The Office of the President may authorize the OWI Fund to draw from its Contingent Fund to complement the OWI Fund's reserve/contingency fund; and

(3) Congress may set aside an additional contingency incentives fund to encourage workers to remit their foreign exchange through accredited channels.

Section 11 — Initial Funding.→

Section 11.

Initial Funding.

– The Philippine National Bank (PNB), the Overseas Workers Welfare Administration (OWWA) and the other government financial institutions may place in trust with the OWI Fund a minimum amount of Two million dollars (US$2,000,000.00) each (or its peso equivalent) or provide the same in the form of a short-term loan to the OWI Fund which shall earn them the same interest as the yield on ninety-day treasury bills. This initial funding shall serve as standby fund.

In addition, the accredited financial institutions, money couriers, and other service participants in the remittance system shall be required to deposit in trust with the OWI Fund the equivalent of twenty percent (20%) of their projected quarterly remittance transactions under this Act which shall, likewise, earn them the same interest as the yield on ninety-day treasury bills.

Section 12 — Program Period.→

Section 12.

Program Period.

– The OWI Fund shall operate for not more than five (5) years from the date of publication of the implementing rules and regulations of this Act: provided, that this period may be extended by the President for a period of not exceeding three (3) years upon recommendation of the OWI Fund Board.

Upon termination of operations, the OWI Fund support organization and/or trustee shall nevertheless continue its functions for three (3) years after the termination of the remittance system for the purpose of prosecuting and defending suits by or against the OWI Fund and enabling it to settle and wind up its affairs, but not for the purpose of continuing the remittance, debt-for-note and other operations for which the Fund was established.

Section 13 — Separability Clause.→

Section 13.

Separability Clause.

– If any provision of this Act is declared unconstitutional, the other portions shall remain valid.

Section 14 — Repealing Clause.→

Section 14.

Repealing Clause.

– Any provision of law, decree, order, or rules and regulations inconsistent with the provisions of this Act is hereby repealed or modified accordingly.

Section 15 — Effectivity.→

Section 15.

Effectivity.

– This Act shall take effect upon its approval.

Approved:

August 22, 1991

.

The Lawphil Project - Arellano Law Foundation

Full text on BatasKo. Original source: Official Gazette / Lawphil.

Narinig mo na bang may batas na nagbibigay ng incentive sa mga OFW para remitan ang pamilya nila sa Pilipinas — at sa proseso, nababawasan pa ang utang ng bansa? Noong 1991, iyon mismo ang layunin ng Republic Act No. 7111.

ELI5 Summary: Ang RA 7111 — o ang Overseas Workers' Investment (OWI) Fund Act — ay isang batas na lumikha ng espesyal na pondo para gawing mas madali, mas ligtas, at mas kapaki-pakinabang ang pagpapadala ng pera ng mga OFW sa Pilipinas. Hindi lang basta remittance ito — ang pondo ay ginamit din para bilhin ang foreign debt ng Pilipinas sa mas murang halaga, na nakatulong sa pagpapababa ng utang ng bansa. Ang mga OFW na lumahok ay nakatanggap ng espesyal na sertipiko bilang kapalit ng kanilang kontribusyon.

Real Filipino Scenario: Si Dexter at ang Pamilyang Umaasa sa Remittance

Si Dexter, 22 anyos, ay isang out-of-school youth mula Olongapo na ang tatay ay nagtatrabaho sa Saudi Arabia noong huling bahagi ng 1980s hanggang 1990s.

Tulad ng maraming pamilya, ang tatay ni Dexter ay nagpapadala ng pera sa pamamagitan ng mga impormal na paraan — minsan sa pamamagitan ng kababayan, minsan sa pamamagitan ng padala na naaantala ng ilang linggo.

Ang OWI Fund Act ay nilikha para ayusin ang ganitong sitwasyon. Sa ilalim ng Section 5(1)(a) ng RA 7111, ang batas ay nag-uutos na ang mga remittance na dumaan sa accredited na sistema ay dapat maproseso sa loob ng 48 oras — hindi linggo, hindi buwan, 48 oras.

Ano ang dapat gawin ng pamilya ni Dexter:

  1. Tiyaking rehistrado ang OFW sa POEA at/o Commission on Filipino Overseas (CFO) — ito ang requirement para ma-cover ng batas.
  2. Gumamit ng accredited na bangko o remittance center — hindi ang impormal na "padala" na walang garantiya.
  3. Humingi ng opisyal na resibo mula sa accredited na institusyon bilang katibayan ng remittance.

What the Law Actually Says

Ang RA 7111, na pinirmahan ni Pangulong Corazon Aquino noong August 22, 1991, ay naglalayong resolbahin ang dalawang malaking problema nang sabay-sabay.

Una: Maraming OFW ang hindi gumagamit ng opisyal na remittance channels — nangangahulugang ang foreign currency na kanilang kinita ay hindi bumabalik sa pormal na ekonomiya ng Pilipinas.

Pangalawa: Ang Pilipinas ay may mabigat na foreign debt burden noong panahong iyon, at kailangan ng malikhaing paraan para mabawasan ito.

Ang solusyon ng batas: lumikha ng Overseas Workers' Investment (OWI) Fund Board — isang governing body na binubuo ng:

  • Secretary ng DOLE (bilang Chairman)
  • Secretary ng Department of Finance
  • Governor ng Central Bank ng Pilipinas
  • Administrator ng POEA
  • Isang kinatawan ng mga overseas workers, na hinirang ng Pangulo

Sa ilalim ng Section 5, ang Board ay may kapangyarihang:

  • I-accredit ang mga bangko, money couriers, at remittance centers — parehong lokal at dayuhan — bilang opisyal na channels ng foreign exchange remittance.
  • Mag-pool ng mga remittance para gamitin sa pagbili ng Philippine debt papers sa secondary market sa mas mababang presyo — isang prosesong tinatawag na debt-for-note arrangement.
  • Mag-isyu ng Participatory Debt Reduction Certificates (PDRCs) — espesyal na sertipiko na ibinibigay sa mga benepisyaryo ng OFW bilang katibayan ng kanilang partisipasyon at bilang kapalit ng kanilang kontribusyon sa debt reduction.
  • Lumikha ng peso loan and investment fund mula sa pooled remittances para sa pagpapautang sa mga maliliit na negosyo ng mga OFW at kanilang pamilya.

Sa ilalim ng Section 3, ang batas ay sumasaklaw sa lahat ng Filipino citizens abroad na rehistrado sa POEA at/o CFO, at sa kanilang mga benepisyaryo sa Pilipinas.

Mahalagang limitasyon: Ang mga Pilipinong nagkaroon na ng immigrant status sa kanilang host country ay hindi eligible para sa mga karagdagang benepisyo na nakalagay sa Section 8 ng batas.

What This Means for You

Kung ang miyembro ng iyong pamilya ay OFW na rehistrado sa POEA o CFO, ang batas na ito ay nagbibigay ng tatlong konkretong pangako:

Una, bilis. Hindi ka dapat maghintay ng ilang linggo para matanggap ang remittance. Ang batas ay nagtatakda ng 48-oras na processing window para sa mga remittance na dumaan sa opisyal na channels.

Pangalawa, seguridad. Sa ilalim ng Section 5(3), ang mga accredited na institusyon ay nag-iisyu ng espesyal na resibo na garantiya ng gobyerno para sa foreign exchange remittance ng OFW. Ito ay ibang-iba sa pag-padala sa kakilala na walang dokumentasyon.

Pangatlo, karagdagang halaga. Sa pamamagitan ng PDRC system, ang iyong OFW ay hindi lang nagpapadala ng pera — ang pera na iyon ay ginagamit para bilhin ang utang ng Pilipinas sa mas murang presyo, na nagpapababa ng national debt. At bilang kapalit, nakatanggap ang pamilya ng negotiable certificates na may halaga.

Para sa mga pamilyang mayroong maliliit na negosyo, ang batas ay nagbibigay-daan din sa OWI Fund na magpautang sa mga small business entities — lalo na sa mga negosyo ng mga pamilya ng OFW.

Real Filipino Scenario: Si Cesar at ang PDRC na Hindi Niya Alam

Si Cesar, 35 anyos, ay isang graphic designer sa Makati. Ang kanyang nanay ay nagtatrabaho bilang domestic helper sa Hong Kong noong dekada '90 at registered sa POEA.

Sinabi ng kanyang tito na may "certificate" raw na dapat nilang matanggap noon — isang PDRC. Hindi nila ito pinursige dahil hindi nila alam kung ano ito o kung may halaga pa ito.

Ito ang tipikal na edge case ng OWI Fund: maraming pamilya ang nakatanggap o dapat na nakatanggap ng PDRCs noong aktibo ang programa, ngunit hindi nila alam ang tunay na kahulugan o potensyal na halaga ng mga ito.

Sa ilalim ng Section 5(7) ng RA 7111, ang PDRCs ay inisyu sa mga benepisyaryo ng OFW sa pamamagitan ng accredited local financial institutions at money couriers.

Ano ang dapat gawin ni Cesar:

  1. Hanapin ang mga lumang dokumento ng kanyang nanay — POEA registration, remittance receipts, at anumang certificate na natanggap noong 1991–1993.
  2. Makipag-ugnayan sa DOLE o sa BSP (dating Central Bank) para alamin kung may natitirang halaga ang lumang PDRCs.
  3. Kumonsulta sa abogado o sa Public Attorney's Office (PAO) kung hindi malinaw ang kalagayan ng mga dokumentong ito.

What Most Filipinos Get Wrong

Mali: "Ang batas na ito ay para lang sa malalaking OFW na may malaking sahod."

Hindi. Sa ilalim ng Section 3, ang batas ay sumasaklaw sa lahat ng OFW na rehistrado sa POEA at/o CFO — walang minimum na sahod na kinakailangan. Ang tanging limitasyon ay ang halaga ng remittance ay hindi dapat lalampas sa total earnings ng OFW para sa period na iyon.

Mali: "Kung OFW ka sa ibang bansa at naging immigrant na, wala ka nang karapatan sa lahat ng benepisyo."

Bahagyang tama lang ito. Ang Section 3 ay nagtatakda na ang mga Pilipinong nagkaroon na ng immigrant status ay hindi eligible para sa karagdagang benepisyo na nakalagay sa Section 8. Pero maaari pa rin silang lumahok sa remittance programs ng batas — may limitasyon lang na ang partisipasyon ay hanggang unang dalawang taon ng operasyon ng mga programa.

Mali: "Ang OWI Fund ay tulad lang ng ordinaryong bangko."

Hindi. Ang OWI Fund Board ay isang espesyal na government body na may corporate powers. Hindi ito nagpapatakbo para kumita para sa sarili nito — ang layunin nito ay para sa mga OFW at para sa pagpapababa ng national debt. Ang mga ex officio members ng Board ay hindi nakatanggap ng karagdagang sahod o bayad para sa kanilang serbisyo, maliban sa kinatawan ng mga workers na nakatanggap ng ₱1,000 per diem bawat pulong.

Mali: "Ang batas na ito ay hindi na applicable ngayon."

Kahit na ang OWI Fund ay produkto ng isang partikular na panahon sa kasaysayan ng Pilipinas — nang ang foreign debt crisis ay isang pangunahing alalahanin — ang mga prinsipyo nito ay nananatiling bahagi ng legal framework para sa OFW remittance at welfare. Ang mga susunod na batas tulad ng Migrant Workers Act ay nagpatuloy sa marami sa mga ideyang inilunsad ng RA 7111.

What to Do if Your Rights Are Violated

  1. I-verify ang registration ng OFW. Tiyaking ang OFW sa iyong pamilya ay rehistrado sa POEA (ngayon ay DMW — Department of Migrant Workers) at/o sa Commission on Filipino Overseas. Ito ang baseline na requirement ng Section 3 ng RA 7111.

  2. Gumamit ng accredited remittance channels. Huwag mag-rely sa impormal na "padala" na walang opisyal na dokumentasyon. Hanapin ang mga bangko at remittance centers na accredited ng BSP at DMW.

  3. Humingi ng opisyal na resibo para sa bawat remittance. Sa ilalim ng Section 5(3), ang mga accredited na institusyon ay obligadong mag-isyu ng espesyal na resibo bilang katibayan ng government guarantee. Itago ang lahat ng resibo.

  4. Kung naantala ang remittance sa loob ng accredited na sistema, makipag-ugnayan agad sa institusyon at humingi ng written explanation. Alalahanin: ang standard ay 48 oras ayon sa Section 5(1)(a).

  5. Para sa mga katanungan tungkol sa PDRCs o lumang OWI Fund accounts, makipag-ugnayan sa:

    • DMW (Department of Migrant Workers): dmw.gov.ph
    • BSP (Bangko Sentral ng Pilipinas): bsp.gov.ph
    • DOLE (Department of Labor and Employment): dole.gov.ph

  6. Kung kailangan mo ng libreng legal na tulong, makipag-ugnayan sa Public Attorney's Office (PAO) — may mga opisina sila sa buong bansa at libre ang serbisyo para sa mga indigent clients.

Related Laws

Mga Madalas Itanong / FAQ

Q: Sino ang covered ng RA 7111?

A: Lahat ng Filipino citizens abroad na registered sa POEA at/o Commission on Filipino Overseas (CFO), at ang kanilang mga benepisyaryo sa Pilipinas. Mayroon lang limitasyon para sa mga Pilipinong nagkaroon na ng immigrant status sa host country nila — hindi sila eligible sa karagdagang benepisyo sa Section 8, at ang kanilang partisipasyon sa remittance programs ay limitado sa unang dalawang taon ng operasyon.

Q: Ano ang PDRC at may halaga pa ba ito ngayon?

A: Ang Participatory Debt Reduction Certificate (PDRC) ay isang espesyal na negotiable certificate na inisyu sa mga benepisyaryo ng OFW bilang kapalit ng kanilang kontribusyon sa OWI Fund remittance system. Ang mga PDRC ay ginawa noong aktibo ang programa sa unang bahagi ng 1990s.

RELATED RIGHTS

OFW Rights

Migrant Workers Act (RA 10022) Philippines — BatasKo ELI5

OFW Rights

OWWA Benefits Philippines 2016 — BatasKo ELI5

OFW Rights

OFW Handbook Rights Philippines 2019 — BatasKo ELI5

OFW Rights

Social Welfare Attaché Philippines (RA 11299) — BatasKo ELI5

Legal disclaimer: BatasKo provides general legal information, not legal advice. For your specific situation, consult a licensed Filipino lawyer or the Public Attorney's Office (PAO).

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