DPWH DEPARTMENT ORDER NO. 03-A, S. OF 2009, June 05, 2009
AMENDMENT TO D.O. NO. 3, SERIES OF 2009, REDUCING THE MINIMUM PAID-UP CAPITAL REQUIREMENTS FOR DPWH ACCREDITATION OF SURETY AND INSURANCE COMPANIES FROM P500M TO P100M
National Administrative Register June 5, 2009
In consideration of the appeal of various surety and insurance
companies to reduce the minimum paid-up capital requirement of Five
Hundred Million Pesos (P500,000,000.00) for accreditation of surety and
insurance companies and to encourage accreditation of more companies
with less than P500.00 Million paid-up capital but are found refutable
based on their track records, the minimum paid-up capital requirements
is hereby reduced from P500.00 Million to P100.00 Million with the
following categories on the limit of participation depending on the cost
of the project/s to be insured:
companies to reduce the minimum paid-up capital requirement of Five
Hundred Million Pesos (P500,000,000.00) for accreditation of surety and
insurance companies and to encourage accreditation of more companies
with less than P500.00 Million paid-up capital but are found refutable
based on their track records, the minimum paid-up capital requirements
is hereby reduced from P500.00 Million to P100.00 Million with the
following categories on the limit of participation depending on the cost
of the project/s to be insured:
|
COST OF PROJECT
|
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PAID-UP CAPITAL
|
BID SECURITY
|
PERFORMANCE SECURITY
|
SURETY BOND
|
CARI
|
WARRANTY BOND
|
|
|
ADVANCED PAYMENT
|
RETENTION MONEY
|
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| 100 < 200M | No Limit | < 100.00 M | < 100.00 M | < 100.00 M | < 100.00 M | < 100.00 M |
| 200 < 300M | No Limit | < 200.00 M | < 200.00 M | < 200.00 M | < 200.00 M | < 200.00 M |
| 300 < 400M | No Limit | < 300.00 M | < 300.00 M | < 300.00 M | < 300.00 M | < 300.00 M |
| 400 < 500M | No Limit | < 400.00 M | < 400.00 M | < 400.00 M | < 400.00 M | < 400.00 M |
| 500M & above | No Limit | No Limit | No Limit | No Limit | No Limit | No Limit |
This Order shall take effect immediately.
Adopted: 5 June 2009
(SGD.) HERMOGENES E. EBDANE, JR.
Secretary