(NAR) VOL. III NO. 4 / OCTOBER - DECEMBER 1992
In the interest of the service and in compliance with the Board directive, limit of authority for approval under the Conduit Loan Window is hereby amended as follows:
Loan Amount Recommending Approving Loan Amount | Recommending | Approving |
| | |
P300,000 & below | ROU Supervisor | RD, DOLE |
P300,001 — 1 M | PM, IRPO | Admin., OWWA |
Above 1 M | Admin., OWWA | Board of Trustees, OWWA |
Likewise, based on the assessment done by the program implementors, the following Sections of the General Policies under MOI 138 are hereby amended/added:
C. The loan fund shall bear an
interest rate of 3% and shall be retailed according to OWWA rates. No other charges and fees shall be imputed on the OCW clients except penalties on delayed amortization.
J. In cases when the program participant has failed to comply with the terms and conditions for loan releases and the general policies and guidelines governing the
OWWA funds, the OWWA reserves the right to suspend further loan releases to the program participant as well as the right to take over the management of the program.P. The ACP shall ensure that program beneficiaries have
no outstanding loans from other loan windows of the IRPO.
Under the Non-collateral Loan Window of MOI 99, a new ceiling shall be set at
P10,000 and
P100,000 for
individual and group loans, respectively.The Couple's Loan Application in MOI 139 shall refer to married couples who are both OCWs. The only document to be submitted aside from the regular individual borrower's requirements is the
proof of OWWA contribution of the spouse.For strict compliance.
Adopted: 20 Aug. 1992
(SGD.) DAVID P. CORPIN
Administrator, OWWA