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(NAR) VOL. III NO. 3 / JULY - SEPTEMBER 1992
[ GTEB MEMORANDUM NO. 92-03, January 20, 1992 ]
COMPUTATION OF 1992 EQ/CEA ENTITLEMENTS
The Board in its meeting of 06 January 1992 approved the industry's request to relax the rules governing the computation/restoration of EQ/CEA entitlements.
The following guidelines are hereby adopted:
1. The LVA requirement on EQs shall be 32% (instead of 39%) computed on a global basis or on a per category basis whichever is favorable to the firms except for firms whose historical performance by reason of the nature of their product(s) have always been below the aforesaid percentage i.e. brassieres, gloves, bed sheets etc.
2. The LVA compliance on EAs shall be 80% (instead of 90%) computed on a per category basis or per award basis whichever is favorable to the firm.
3. The performance benchmark on EAs is 75% instead of 95%.
4. Failure to comply with the LVA requirement of 32% and 80% on EQs and EAs, respectively, shall render the firm liable to LVA shortfall penalties in accordance with the GTEB Rules and Regulations.
Adopted: 20 Jan. 1992
The following guidelines are hereby adopted:
1. The LVA requirement on EQs shall be 32% (instead of 39%) computed on a global basis or on a per category basis whichever is favorable to the firms except for firms whose historical performance by reason of the nature of their product(s) have always been below the aforesaid percentage i.e. brassieres, gloves, bed sheets etc.
2. The LVA compliance on EAs shall be 80% (instead of 90%) computed on a per category basis or per award basis whichever is favorable to the firm.
3. The performance benchmark on EAs is 75% instead of 95%.
4. Failure to comply with the LVA requirement of 32% and 80% on EQs and EAs, respectively, shall render the firm liable to LVA shortfall penalties in accordance with the GTEB Rules and Regulations.
Adopted: 20 Jan. 1992
(SGD.) AURORA MA. F. TIMBOL
Executive Director
Executive Director