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Financial and insurance guarantees for temporary employees

Each Temporary Employment Agency must, in order to carry out such activity, to submit two bank letters of guarantee as a financial guarantee, one to ensure the remuneration of its temporary employees and one to ensure the payment of their insurance contributions.

The first letter of guarantee is submitted to the Hellenic Ministry of Labor and Social Security and the second to the Social Insurance Institution (IKA). The amount of the letters of guarantee may be adjusted every two years by decision of the Minister for Labor and Social Security, depending on the number of temporary employees that the Agency has contracted with, and the Agencies shall submit the respective additional letters of guarantee within three months.