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Corporate Headquarters
The Atrium of Makati
Makati Avenue, Makati City
MEMORANDUM
TO: ALL CONCERNED
FROM: THE CHIEF EXECUTIVE OFFICER
DATE: 07 October 2009
SUBJECT: DETAILED PROCEDURES AND LOAN DOCUMENTS ON THE
AVAILMENT OF MORATORIUM ON SHORT-TERM LOAN (STL)
AMORTIZATION PAYMENTS
We are transmitting the detailed procedures and application form on the
Availment of Moratorium on STL Amortization Payments.
The salient features of the procedure are as follows:
1. APPLY AND RECEIVE APPLICATION FOR MORATORIUM ON STL
AMORTIZATION PAYMENTS
The Collection Officer/Accounts Management Specialist of the Billing and
Collection Division/Loans and Contribution Management and Recovery
Division shall be responsible for the following:
a) Issuance and receipt of Application for Moratorium on STL
Amortization Payments.
b) Check completeness of data in the application.
c) Check if member-borrower’s address is within the calamity area.
d) Access STL Verification System and perform the following:
- View member’s record
- Check status of STL account
- Indicate repayment period/loan term in the application form
- Indicate moratorium period, if eligible.
2. EVALUATE AND APPROVE APPLICATION FOR MORATORIUM ON STL
AMORTIZATION PAYMENTS
The Division Chief III of the Billing and Collection Division/Loans and
Contribution Management and Recovery Division shall be responsible for
the following:
a) Ensure correctness of data in the application form.
b) Sign “Approved/Disapproved by” and “Date” portions of the application
form.
c) For approved applications, access Moratorium database.
- Ensure correctness of adjusted repayment period/loan term and
moratorium period.
- Approve and save changes in database.
NOTE: Once approved and saved, the system shall automatically
adjust the due dates and no penalties shall be incurred for the
moratorium period and the next month due shall be the
resumption of STL amortization.
The Collection Officer/Accounts Management Specialist of the Billing and
Collection Division/Loans and Contribution Management and Recovery
Division shall be responsible for the following:
a) Segregate approved and disapproved applications.
b) For approved applications,
- Issue application form (copy 2) and Reminder Notice to member-
borrower.
- Advises member-borrower to present approved application form to
Payroll Officer to stop STL deduction for the moratorium period.
c) For disapproved applications,
- Advises member-borrower that he is not eligible and returns
application form (2 copies) together with required supporting
documents, if any.
3. GENERATE AND ISSUE NOTICE OF RESUMPTION OF STL
AMORTIZATION PAYMENTS
The Collection Officer/Accounts Management Specialist of the Billing and
Collection Division/Loans and Contribution Management and Recovery
Division shall be responsible for the following:
a) Two (2) weeks prior to expiration of the moratorium period, access
Billing System, generate and send Notice of Resumption of STL
Amortization Payments to member-borrower.
NOTE: The Notice of Resumption of STL Amortization Payments shall
be system-generated and does not require signature.
4. GENERATE LIST OF APPROVED APPLICATIONS FOR MORATORIUM
ON STL AMORTIZATION PAYMENTS
The Collection Officer/Accounts Management Specialist of the Billing and
Collection Division/Loans and Contribution Management and Recovery
Division shall be responsible for the following:
a) On a monthly basis, generate List of Approved Applications for
Moratorium on STL Amortization Payments.
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The Division Chief III of the Billing and Collection Division/Loans and
Contribution Management and Recovery Division shall sign the “Noted by”
portion of the List and shall submit to Approving Authority.
Attached are the following documents:
1. Application for Moratorium on STL Amortization Payments (FLS021)
2. Notice of Resumption of STL Amortization Payments (FLS081)
3. List of Approved Applications for Moratorium on STL Amortization Payments
(RLS021)
Please be guided accordingly.
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