(NAR) VOL. 26 NO. 1/ JANUARY - MARCH 2015
Adopted: 14 January 2015
Date Filed: 05 March 2015The records of the Office of the Board Secretariat show that during the Two Hundred Eightieth (280
th) Meeting of the Board of Directors of the Subic Bay Metropolitan Authority held last 19 December 2014 wherein there was a quorum to validly transact business, the following resolution was approved:
Resolution No. 14-12-5284“Resolve, as it is hereby resolved, that upon recommendation of Management and without prejudice to COA Regulations and pertinent laws on the matter, the Board hereby approves to reduce the Free Storage Period, as follows:
Containerized/Non- containerized | From | To |
Import | 15 days | Ten (10) days |
Export | 10 days | (Seven (7) days |
Transshipment | 15 days | Ten (10) days |
Resolved, further, that the computation of charges be retroactive from day one and onwards; should the cargoes remain beyond the free storage period, an additional of 20% on the 10
th day; and another additional of 10% on every 10
th day thereafter.
Management’s Memorandum
[*] dated December 9, 2014 and hard copy of Management’s PowerPoint Presentation
[*] are incorporated herein by way of reference,”
Issued this 14
th day of January 2015.
(SGD) ATTY. JOCELYN G. ALVARADO
Secretary of the Meeting
[*] Text Available at the Office of the National Administrative Register, U.P. Law Complex, Diliman,
Quezon City.