Supreme Court E-Library
Information At Your Fingertips


  View printer friendly version

(NAR) VOL. 16 NO. 1 / JANUARY - MARCH 2005

[ QRCGC MEMORANDUM CIRCULAR NO. 336, October 29, 2004 ]

SECURITY REQUIREMENTS UNDER THE YOUNG FARMERS PROGRAM



Relative to the implementation of the subject program, please be informed that Real Estate Mortgage (REM) is not among those required under Section 6.4.2 d of Circular No.258, as amended by Circular No.298, on Security Requirements for Individual Borrowers.

Other acceptable collateral mentioned under the said section may include Cash Bond, Chattel on Machinery/Equipment directly related to the project and Deed of Assignment of Liquid Risk Free Assets.

Also, you are advised to follow/abide with the loan procedures on the said program to hasten approval and release of loan. Attached for your reference is the program's Schematic Diagram of Activities*.

For your guidance and strict compliance.

Adopted: 29 Oct. 2004

(SGD.) NELSON C. BUENAFLOR
President and CEO


* Text Available at the Office of the National Administrative Register, U.P. Law Center, Diliman, Q.C.

© Supreme Court E-Library 2019
This website was designed and developed, and is maintained, by the E-Library Technical Staff in collaboration with the Management Information Systems Office.