📋 Tender Overview
The Philippine Deposit Insurance Corporation PDIC announced the guidelines on the lifting of the suspension of lease payments for corporate and closed bank properties including guidelines on how to pay the lease when collection resumes.Covered in the guidelines are lease payments falling due during the periods of enhanced community quarantine ECQ modified enhanced community quarantine MECQ and general community quarantine GCQ.The guidelines grant lessees a 30-day grace period which will commence on the date of the lifting of the GCQ in the National Capital Region NCR or in areas where the leased properties are located whichever comes later. Payment collection will resume when the grace period expires.Lease shall then be paid in six equal monthly amortizations following the end of the 30-day grace period without interest penalties fees and charges. Lessees are required to issue post-dated checks to cover the amortizations. If lessees are unable to issue post-dated checks theymust submit a signed promissory note or letter undertaking to pay the deferred rents within the 6-month period. In the absence of post-dated checks promissory note or letter all deferred tents shall be due immediately following the end of the 30-day grace period.The grant of the 30-day grace period is in accordance with Resolution No. 38 issued by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases IATF on 22 May 2020 Memoranda No. 20-29 and 20-31 issued by the Department of Trade and Industry on 2 June 2020 and 4 June 2020 respectively.The PDIC implemented payment relief measures which took effect on 15 March 2020 for corporate and closed bank clients with loan accountsproperty purchases and lease in current status whose payments fall due during the quarantine period.
