MANILA, Philippines – The Philippine Deposit Insurance Corporation (PDIC) is scheduled to sell via public bidding an estimated P90 million worth of properties on November 19.
The opening of bids will start at 2 p.m. and will be held at the Bangko Sentral ng Pilipinas (BSP)–Legaspi Branch in Barangay 18, Rizal Street, Cabagñan, Legaspi City, Albay.
Closed banks’ assets located in Albay, Camarines Norte, Camarines Sur and Sorsogon will be up for bidding as part of PDIC’s strategic direction to dispose non-financial assets.
Only a limited number of attendees and witnesses are allowed at the bidding venue, and only bids from Filipino citizens or from corporations or associations which are at least 60%-owned by Filipino citizens will be accepted.
PDIC said all bids must be accompanied by a bond or deposit equivalent to at least 10% of the submitted bid either in Cash or Manager’s or Cashier’s Check issued by a commercial bank.
The winning bidder is required to pay the balance of the bid price on or before November 28, 2013.
Bid Forms, Conditions of Bid, and acceptable formats for the Special Power of Attorney and Secretary’s Certificate are available at the PDIC website. [http://www.pdic.gov.ph]
Details on the properties are also found at the site.
Interested bidders may contact Atty. Josette Sonia Marcilla or Dominador Rodulfo, Jr. of the Asset Management and Disposal Department I at (02) 841-4750 or (02) 841-4754 for more information.