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:
- Extra allotments
- Final balance of wages
- Bonuses
- Urgent allotments
- Standby pay
- 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).