ShipMoney Policies on Filipino Allotments

ShipMoney Policies on Filipino Allotments 

  • Fixed allotment amounts will be set at 80% of the seafarer’s basic salary. 
  • Only one fixed allotment (PESO) account will be used.
  • All other payments will be remitted to the respective ShipMoney accounts of the crew, this includes: 
    1. Extra allotments
    2. Final balance of wages
    3. Bonuses
    4. Urgent allotments
    5. Standby pay
    6. Expense claim reimbursement (except sickness related expenses)
  • This, however, does not cover office cash advances, sick pay and severance payments.
  • For joiners between the 1st to the 20th of the month, they will have 80% of basic as fixed allotment. Joiners between the 21st to the end of the month will no longer have allotments for that month.
  • For leavers between 1st to 20th, there will no allotments. For leavers between the 21st to the end of the month, 80% of basic as fixed allotment is required.
  • This policy is applicable to all Ship Managed vessels handled by the Manila Crew Payroll Team excluding International Seaways (INSW) vessels.

 

By doing these changes, the seafarer is able to:

  • Receive his fixed allotment without any bank charge (since the first allottee’s bank charge is waived by the bank).
  • Receive his final balance of wages without any bank charge (since this will be settled via ShipMoney).

 *Clause related to cut-off of allotments that can be applied to all vessels (Ship Management and Crew Management).

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