Legal Framework

The main law regulating the Insurance Foundation for Servicemen is the Law on the Compensation of Loss of Life or Health of Servicemen Suffered During the Defense of the Republic of Armenia. This law establishes the right of every Servicemen to receive compensation for loss of health suffered as a result of their military duties as well as the right of the families of Servicemen who died while performing their military duties to receive compensation.It also establishes obligatory monthly Stamp Duty for every person working under an employment contract in Armenia. The Stamp Duty is equivalent to $2. The law allows for the Foundation to raise money through donations, charitable events etc.

In addition to the law the Government of the RA adopted the Government decree on assuring the application of the law on the Compensation of Loss of Life or Health of Servicemen, which regulates in detail the operation of the Foundation, it's cooperation with the Ministry of Defense and with Tax Authorities as well as the means of providing compensations.

 

The Foundation itself adopted many internal acts in order to ensure the smooth operation of the Foundation, including.

• Rules on the form and publishing of quarterly reports
• Guidelines for the selection of an external auditor
• Rules of payment of Compensation
• Creation of the ALM committee
• Donation collection rules
• Executive Committee
• List of Personnel
• 2017 budget
• Creation of the ALM committee
• Decision on the members of the ALM committee 

 

All decisions on providing compensations are published on the website. 

The texts of all laws and regulations are available on the Armenian version of the website.