(NAR) VOL. 19 NO. 1 / JANUARY - MARCH 2008
COVERAGENOW, THEREFORE, for and in consideration of the foregoing premises, the parties hereto have agreed as follows:
This MOA covers buyers in good faith of:
1. All imported brand new and used Completely Built Units (CBUs);
2. All CBUs from imported replacement parts indicated only the engine and or chassis/Vehicle Identification Number (VIN) numbers;
EXCLUSION
The following imported motor vehicles are excluded from the coverage of this MOA:
1. Motor Vehicles imported pursuant to the Motor Vehicle Development Program (MVDP) of the government;
2. Motor Vehicles imported by embassies, consulates and other diplomatic missions; and
3. Trucks and buses covered by CP which indicated the payment of duties and taxes for the whole motor vehicle by Department of Trade and Industry (DTI) accredited rebuilders.
DEFINITION OF TERMS:
Buyer in good faith is:
1. One who is not the importer of the motor vehicle nor has acted as agent for the importer in effecting the importation but who is able to identify the seller of the motor vehicle;
2. One who has verified the existence/genuineness of the BOC Certificate of Payment and the LTO Certificate of Registration at the time of purchase of the motor vehicle; and
3. One who has no personal knowledge that the motor vehicle was imported without payment of taxes and duties or with deficiencies.
1. The BOC and the LTO shall establish a One-Stop-Shop at the LTO Compound for this purpose.IN WITNESS WHEREOF, parties hereby set their hands and sign this document this 7th day of April 2007, at City of Manila, Philippines.
2. The LTO shall make one of the requirements a BOC clearance in the initial/ renewal registration of motor vehicles covered under this MOA.
3. The BOC and the LTO shall issue its implementing rules and regulations relative to the provisions of this MOA.
(SGD.) NAPOLEON L. MORALES | (SGD.) REYNALDO I. BERROYA |
Commissioner | Assistant Secretary |
Bureau of Customs | Land Transportation Office |
Witnesses: | |
(SGD.) REYNALDO S. NICOLAS | (SGD.) JIMMY G. PESIGAN |
Deputy Commissioner | Executive Director |
Bureau of Customs | Land Transportation Office |