QRCGC CIRCULAR NO. 098, SERIES OF 1999, May 17, 2000
AMENDMENT TO THE CONSOLIDATED RULES AND REGULATIONS ON THE FRANCHISING OF BONDED WAREHOUSES AND ISSUANCE OF NEGOTIABLE QUEDANS INTENDED FOR QUEDAN INVENTORY FINANCING
National Administrative Register May 17, 2000
Pursuant to QUEDANCOR Board Resolution No. 80-98 dated June 17,
1998, Circular No. 074 issued on 14 November 1997 on the Consolidated
Rules and Regulations on the Franchising of Bonded Warehouses and
Issuance of Negotiable Quedans Intended for Quedan Inventory Financing
is hereby amended with respect to Section V, paragraph 1 to read as
follows:
1998, Circular No. 074 issued on 14 November 1997 on the Consolidated
Rules and Regulations on the Franchising of Bonded Warehouses and
Issuance of Negotiable Quedans Intended for Quedan Inventory Financing
is hereby amended with respect to Section V, paragraph 1 to read as
follows:
“V. STATEMENT OF POLICIES
1. x x x
Applicants shall comply with the requirements for franchise
specified in Section VI-A2 of these guidelines and pay a non-refundable
franchise fee which may either be cash payment of P2,000.00 or paid
subscription of QUEDANCOR shares of stock at not less than
P4,000.00/warehouse, whether for new application or renewal.
This circular shall take effect immediately.
Adopted: 17 May 2000
(SGD.) GALO B. GARCHITORENA
President & CEO