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(NAR) VOL. 25 NO. 1 / JANUARY - MARCH 2014
[ PPA OPERATIONS MEMORANDUM CIRCULAR NO. 01-2014, January 20, 2014 ]
ESTABLISHMENT OF PERFORMANCE SECURITY OF CARGO HANDLING OPERATORS (CHOs)
In order to prescribe a uniform basis for the establishment of Performance Security to be posted and maintained by CH Operators pursuant to their CH Contracts with PPA, furnished herewith is a copy of the Legal Services Department (LSD) Opinion No. 01-2014 – “Establishment of Performance Security of Cargo Handling Operators” which opines, and therefore prescribes the pertinent provisions of PPA Administrative Order (AO) No. 03-2009 as the legally correct bases for the computation of the Performance Security to be posted by CHOs.
Further, considering that PPA AO No. 03-2009 takes precedence over previous issuances relative to the establishment of Performance Security and pending amendment of the same, the issuance of clarificatory guidelines to this effect is not necessary.
For your guidance.
(SGD) RAUL T. SANTOS
Assistant General Manager for Operations