Republic Acts1 min read
Section 50Sec./Art. 50
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Financial Security System to Assist Seafarers in Case of Injury and Other Causes. - In accordance with the MLC 2006, as amended on financial security for vessels, the shipowner shall provide an expeditious and effective financial security system to assist seafarers in the event of their abandonment and to assure compensation for contractual claims in the event of sickness, injury, or death occurring while they are serving under a seafarer's employment contract, or arising from their employment under such agreement.
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