(NAR) VOL. 11 NO.3 / JULY – SEP. 2000
“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