SOP Library
SOP NO:
HR-PB38
(List of Exhibits/Attachments)
Missi
on
:
Finance and Administration
Area:
Human Resource (HR)
Activity:
Personnel Benefits and Services (HR-PB)
Title:
Expanded Vehicle Loan Program
Date Approved/Issued:
06/13/2002
Date Effective:
06/13/2002
Digest:
I. TERMS OF REFERENCE
A. Rationale
B. Objective
C. Scope
D. Basis
II. IMPLEMENTING GUIDELINES
A.
PURPOSE OF LOAN
The loan shall be used for the purchase of
any type
of vehicle for
personal
or
business
purposes.
B.
FUNDING
1. An Expanded Vehicle Loan Fund (EVLF) shall be set aside for this program. It shall be prorated to the central office and fourteen (14) regional offices according to the central office’s or each region’s number of permanent rank and file employees with grade level 23 and below over total NFA complement of permanent rank and file employees with grade level 23 and below.
Example: To compute the EVLF allocation for Reg. I:
Step 1 - get the percentage allocation for Reg. I:
Reg. I’s no. of perm. r & f employees w/ grade level 23 & below ------------------------------------------------------------------------------------- = N %
NFA complement of perm. r & f emp. w/ grade level 23 & below
Step 2 - get the EVLF allocation for Reg. I:
= ( N% ) ( NFA-EVLF ) = amt. of EVLF that will be allocated for Reg. I
2. DTBFM shall remit the allocated amount to the regional offices who, in turn, will be responsible in managing their own funds.
3. A separate account - Expanded Vehicle Loan Fund Account - (combo account) shall be opened for the program both in central and regional offices where check disbursements shall be made and collections of loan amortization shall be deposited.
4. DAS (C.O.) / Finance Section (R.O./P.O.) shall prepare a
monthly
summary of vehicle loan amortizations
deducted from the employees’ salaries/payroll and shall request DTBFM (C.O.) / Special Collecting Officers (R.O./P.O.) for fund transfer from GOE to EVLF account.
5. To monitor available funds for the month, DAS (C.O.) / Finance Section (R.O.) shall maintain a ledger for the Expanded Vehicle Loan Fund (Exhibit 1). Meanwhile, HRMD-Benefits Unit (C.O.) / Administrative & General Services (AGS-R.O.) may coordinate with DTBFM (C.O.) / Finance Section (R.O.), as the case may be, regarding the balance of the fund.
C.
ELIGIBILITY
1. Permanent rank and file employees with grade level 23 and below shall be eligible to apply for the loan.
2. The applicant must have a monthly net take home pay of not less than Php2,000 (based on latest payslip) after deducting the monthly amortization on the vehicle loan and all other loans. Rice allowance shall not be considered in computing the net take home pay.
3. The applicant must have no pending administrative case filed against him/her by NFA at the time of application and actual granting of the loan.
4. The applicant must have no record of delinquency in his previous EVLP loan (in case of re-availment) and in other loans such as EDL, NFAEA, MPCI, DBP, PCI, PNB, LBP, etc. Even if they have fully settled their delinquent accounts, applicants can only avail of this vehicle loan six (6) months after the initial implementation of the program. Those who still have delinquencies during the initial implementation, or anytime thereafter, can only apply for the loan six (6) months after settlement thereof.
5. The applicant must have no unliquidated cash advances and/or disallowances which are long outstanding. If the applicant is a stock accountable officer, he/she must have no established and unpaid shortages after COA examination.
6. The applicant must not be on leave without pay at the time of application and actual granting of the loan.
7. For an NFA couple where spouses are both rank and file employees, only one shall be eligible to apply for the vehicle loan. In the same manner, an NFA couple, where either spouse is an executive, can avail of a vehicle loan under one program only - under the SVLF or under the Expanded Vehicle Loan Program (EVLP).
D.
LOANABLE AMOUNT
The amount of loan that shall be granted shall be the
value of the vehicle
or the applicant’s
maximum loanable amount
(per formula)
whichever is lower, but in either case
should not exceed Php 100,000
.
a. The
value of the vehicle
shall be:
i.
for second hand vehicles
- the
appraised value
of the vehicle as determined and indicated by GSD Motorpool (for central office applicants) or a reputable motor shop authorized by the regional/provincial office (for field office applicants) in its Inspection Report, Appraisal Report, and Optional Accessories (Exhibits 2, 2A, and 2B);
ii.
for brand new vehicles
- the
cash price
of the vehicle based on
Price Quotation
.
b. The applicant’s
maximum loanable amount
shall be computed as follows:
maximum loanable amount = [ (average monthly net take home pay based
on the applicant’s payslips for the last 6 months)
- Php2,000 ] X 60
E.
DISTRIBUTION OF SLOTS / MECHANICS OF RAFFLE / SUBMISSION OF APPLICATIONS
1.
In the initial implementation
, the HRMD-Benefits Unit or AGS-R.O. shall compute the number of slots per department / office / regional office / provincial office from the central office’s or the regional offices’ EVLF allocation.
All central executive offices, except for the Administrator’s Office, shall be lumped as one office for purposes of distribution of slots.
Example: To compute for the number of slots for La Union:
Step 1: get the total no. of slots for Reg. I:
Reg. I EVLF
----------------- = no. of slots for Reg. I
Php100,000
Step 2: get the percentage allocation for La Union:
La Union’s no. of perm. r & f employees w/ grade level 23 & below
------------------------------------------------------------------------------------- = N %
Reg. I’s complement of perm. r & f emp. w/ grade level 23 & below
Step 3: get the no. of slots allocated for La Union:
( N% ) ( no. of slots for Reg. I) = no. of slots for La Union
Hypothetical Example:
Assuming that the number of slots derived for Region I is 20. The number of slots per office shall be as follows:
Offices
No. of permanent rank & file employees w/ gr.level 23 and below*
Percentage share (no. of perm. r & f emp. for each
office / total no. of perm. r & f emp. for Reg. I)
No. of slots (%age share x 20)
Rounded off to the nearest whole number
Regional Office
43
15.3%
3.1
3
La Union Provincial Office
32
11.4
2.3
2
E. Pangasinan Prov. Office
48
17.1
3.4
3
W. Pangasinan Prov. Office
40
14.2
2.8
3
Ilocos Norte Prov. Office
40
14.2
2.8
3
Ilocos Sur Provincial Office
31
11
2.2
2
Benguet Provincial Office
26
9.3
1.9
2
Abra Provincial Office
21
7.5
1.5
2
Total
281
100%
20
20
* based on current plantilla positions
2. Employees in each department / office / regional office / provincial office who can avail of the loan shall be determined through a raffle which shall be conducted by each department / office / regional office/ provincial office as follows:
a. The names of all the department’s/office’s employees will be written on a piece of paper, rolled, and a name will be drawn. The number of names that shall be drawn shall correspond to the number of available slots as determined in item II.E.1 of this SOP.
The Executive Assistants / Administrative Assistants of the executive offices that were lumped as one office shall coordinate with each other in conducting the raffle.
b. If the employee who gets the slot is not eligible, or is not interested to apply for the loan, another name shall be drawn until a qualified or interested employee gets it.
c. The employee who got the slot shall submit to the Administrative Asst. / Executive Asst. / RAO / PAO, as the case may be, a duly accomplished application form with complete requirements within ten (10) calendar days from the date of the raffle draw.
3. HRMD-Benefits Unit shall process loan applications of central office employees while AGS R.O. shall process loan applications of field office employees. The Administrative Assistants. / Exec. Assistants. / PAOs shall properly endorse the applications and complete requirements of their employees to Benefits Unit-HRMD / AGS R.O., as the case may be.
4.
As funds become available from loan payments
after the initial implementation, the HRMD-Benefits Unit / AGS R.O. shall be responsible in conducting the raffle.
a. Only interested employees who submitted an application shall be included in the raffle. The employees shall be responsible in determining whether they are eligible to apply for the loan (item II.C). If their names are drawn and are later found out not to be eligible, they shall be disqualified to join the next raffle.
b. The Chairperson of the NFAEA Welfare Committee national/regional level should be present at the time of the raffle to be conducted by HRMD-Benefits Unit / AGS R.O.
c. The HRMD-Benefits Unit / AGS R.O. shall inform the employees whose names are drawn in the raffle to submit complete requirements within ten (10) days from the date of the raffle.
5. Swapping of priority numbers shall not be allowed.
F.
TERMS AND CONDITIONS
1. The vehicle loan shall be free of interest, payable in five (5) years or in sixty (60) equal monthly installments unless the applicant opts for a shorter repayment period. If the applicant is due to retire from NFA in less than 5 years, the repayment period should not be longer than his/her remaining number of years to serve NFA.
2. Payment shall be made through payroll deduction. Deductions shall be effected on the month immediately following the date of processing of voucher.
3. The check representing the loan shall be payable to the borrower.
4. The borrower shall execute / secure a Chattel Mortgage Contract (item II.J.2) and Mortgage Redemption Insurance (MRI) (item II.J.3) over the vehicle in favor of NFA.
5. All expenses relative to the application of the loan, acquisition of the vehicle and its chattel mortgage and MRI shall be shouldered by the borrower (e.g. notarial fee, registration fee, etc.).
6. If the borrower defaulted in paying at least one monthly amortization because the net take home pay is not sufficient to cover the whole amortization for the month, or for any other reason, payment for the amortization shall be collected immediately from his / her other claims from NFA such as overtime pay, productivitiy, etc., if any. If this still does not suffice, DAS (C.O.) / Finance Section (R.O./P.O) shall serve the borrower a reminder notice (Exhibit 3) to pay the unpaid amortization within 15 calendar days from receipt of the said notice [cc: HRMD-Benefits Unit (C.O.) / AGS (R.O.)].
7. If he still fails to pay after 15 calendar days, DAS (C.O.) / Finance Section (R.O./P.O) shall serve him/her a Demand Notice (Exhibt 4) for the immediate payment within (15) calendar days of the total outstanding balance, plus 2% interest per month and 2% penalty per month on the unpaid amortization from the date of default [cc: HRMD-Benefits Unit (C.O.)/ AGS (R.O.) and DLA-C.O.]
8. If after 15 calendar days the said borrower still does not pay the outstanding balance, etc., DAS (C.O.) / Finance Section (R.O./P.O.) shall notify HRMD-Benefits Unit (C.O.) / AGS (R.O.) of the default. HRMD-Benefits Unit (C.O.) / AGS (R.O.) shall then request DLA C.O. to institute a case of foreclosure of the chattel mortgage and file appropriate administrative or criminal charges against the borrower (Exhibit 5).
9. Upon receipt of endorsement from HRMD-Benefits Unit (C.O.) / AGS (R.O.), DLA-C.O. shall send a Demand Notice (Exhibit 6) to the concerned borrower [cc: HRMD-Benefits Unit (C.O.) / AGS (R.O.)] for the final demand of his/her entire obligation within fifteen (15) calendar days from receipt thereof.
10. If the borrower still does not pay his/her obligations after 15 calendar days, the DLA shall institute a case of foreclosure of the chattel mortgage without prejudice to the filing of appropriate administrative or criminal case against the borrower.
11. This program shall follow the foreclosure proceedings of the SVLF program (vehicle loan program for NFA executives).
12. Any record of delinquency under this program shall disqualify the borrower from availing of all other loans from NFA.
13. The subject vehicle shall not be sold, transferred or in any manner encumbered until the loan has been fully paid and the Chattel Mortgage has been canceled.
G.
APPLICATION REQUIREMENTS
1. The following requirements shall be submitted together with the duly accomplished Vehicle Loan Application Form (Exhibit 7):
a. Photocopy of the applicant’s payslips for the last six (6) months
b. Clearance from DAS (for c.o. employees) / Finance Section (for R.O./P.O. employees) (refer to II.G.2)
c. Certificate of no pending administrative case from DLA (for c.o. employees)/ R.O. / P.O. Enforcement and Inv. Section (for R.O./P.O. employees)
d. Certification from Adm. Asst. / RAO / PAO that the applicant is not on leave without pay
e. Price Quotation (for brand new vehicles)
f. Inspection Report, Appraisal Report & Optional Accessories (Exhibits 2, 2A, & 2B), for second hand vehicles, duly accomplished by GSD Motorpool, for c.o. employees, and by any reputable motorshop authorized by the regional/provincial office, for field office employees.
g. Current PNP Vehicle Clearance
h. LTO Certificate of Registration in the name of the seller (In case the LTO Certificate of Registration is not yet in the name of the seller, Deed of Sale between the seller and the previous owner)
i. Photocopy of latest ITR or business permit to support claim for other income
j. Duly accomplished Contract of Expanded Vehicle Loan (Exhibit 8)
k. Duly accomplished Deed of Undertaking (Exhibit 9)
l. Duly accomplished Chattel Mortgage Contract (Exhibit 10) which shall be returned to the applicant upon approval of the loan, for registration with the Register of Chattel Mortgage.
2.
Clearance from DAS / Finance Section
‘EVLP’ shall be indicated in the purpose section of the clearance. The applicant shall be responsible in securing clearance certificates from outside parties (i.e.PCIBank, PNB, LandBank, etc.) to be attached to the clearance form. Aside from noting down disallowances, shortages, balances and/or arrears of the applicant’s existing loans, the DAS / Finance Section should also note down any record of delinquency in previous EVLP loans (in case of re-availment) and in other loans such as EDL, NFAEA, MPCI, etc. for purposes of evaluating the eligibility of the applicant.
H.
EVALUATION OF APPLICATION
HRMD Benefits Unit (C.O.) / A4GS (R.O.) shall evaluate the applications as to eligibility of the applicant, validity of the information in the application, as well as completeness and authenticity of requirements / documents submitted.
I.
APPROVAL OF THE LOAN
Vehicle loan applications of central office employees shall be approved by the Assistant Administrator for Administration while applications of field office employees shall be approved by the concerned Regional Managers.
J.
ADDITIONAL REQUIREMENTS
1. The borrower shall also submit to HRMD-Benefits Unit (C.O.) / AGS (R.O.) the following additional requirements not later than thirty (30) calendar days after the release of the loan:
a. Photocopy of duly notarized Deed of Sale (for second hand vehicles) or Sales Invoice (for brand new vehicles).
b. Photocopy of the Chattel Mortgage Contract (Exhibit 10) duly registered with the Registry of Chattel Mortgage
c. Original copy of Mortgage Redemption Insurance (MRI) Policy)
d. Original copy of the LTO Certificate of Registration in the name of the borrower and marked encumbered, and certified photocopy of the current Official Receipt.
2.
Chattel Mortgage
a. Borrowers shall execute a Chattel Mortgage Contract (Exhibit 10) over the vehicle in favor of NFA. The borrower shall be responsible in registering the chattel mortgage with the Registry of Chattel Mortgage.
b. The LTO Certificate of Registration shall be marked “encumbered” which means that said vehicle is under mortgage with the NFA. The LTO registration should bear the same mark until the loan is fully paid.
c. Upon full payment of the loan, the borrower shall be responsible in facilitating the cancellation of the Chattel Mortgage on the vehicle (Exhibit 11).
3.
Mortgage Redemption Insurance
a. The borrower shall secure a Mortgage Redemption Insurance (MRI) in favor of NFA on a yearly basis against the cost of vehicle financed by NFA.
b. The original copy of the MRI policy shall be submitted to HRMD-Benefits Unit / AGS R.O. together with other additional requirements (item II.J.1) not later than 30 calendar days after the release of the loan. If the application for MRI is rejected due to health reasons, the borrower should be able to present instead a certification or letter of denial from the insurance company. If neither can be submitted within 30 calendar days from the release of the loan, the borrower should at least submit a proof of his/her application for MRI properly received by the insurance company. If only a proof of application was submitted, the borrower shall be given another 15 calendar days to submit either an approved MRI or proof of rejection. If after the 15 calendar days extension the borrower still does not submit either an MRI or a proof of rejection, the borrower shall be considered acting in bad faith thus the loan shall be deemed due and demandable.
c. Annual renewal of the MRI shall be monitored by HRMD-Benefits Unit / AGS R.O.
The original copy of the renewal policy should be submitted within five (5) days from expiration thereof. If the application for renewal is rejected due to health reasons, the same policy as the initial MRI (item II.J.3.b) shall be applied.
4.
LTO Registration
a. Annual registration of
motor vehicles
with the Land Transportation Office shall be the responsibility of the borrower. He/she shall be required to submit yearly to HRMD-Benefits Unit (C.O.) / AGS (R.O.) a certified photocopy of the
registration’s current Official Receipt
in his/her name
, until the motor vehicle has been fully paid, to prove that the motor vehicle has not been sold, transferred, or in any manner encumbered. HRMD-Benefits Unit (C.O.) / AGS (R.O.) shall monitor the expiration of the vehicle registration and notify the concerned borrower to submit a certified photocopy of the current OR.
b. Upon full payment of the loan, the borrower may request from DAS (C.O.) / Finance Section (R.O./P.O.), a certificate of full payment, aside from the NFA monthly official receipts, which he will present to HRMD-Benefits Unit / AGS R.O. prior to the release of the original copy of the LTO Certificate of Registration.
c. In no case shall HRMD-Benefits Unit / AGS (R.O.) issue the original Registration Certificate unless the borrower submits a certificate of full payment issued by DAS (C.O.) / Finance Section (R.O./P.O.). A certification signed by the HRMD Department Manager / Regional Manager (Exh. 12) may be issued to the borrower upon request to certify that the original copy of the LTO Certificate of Registration is in the custody of NFA.
5. In case of failure to submit any of the requirements under items II.J.1 (with the MRI subject to the provisions of II.J.3.b), II.J.3.c, and II.J.4.a, the entire loan / remaining balance of the loan shall become immediately due and demandable. HRMD-Benefits Unit (C.O.) / AGS (R.O.) shall promptly notify the DAS (C.O.) / Finance Section (R.O./P.O.) about the non-submission and DAS (C.O.) / Finance Section (R.O./P.O.) shall make arrangements to collect the entire loan / remaining balance of the loan.
6. Submission of fraudulent requirements and declaration of false information in the application shall permanently disqualify the applicant from availing of this program and all other NFA loans and he/she shall be dealt with in accordance with law. Should the fraud be discovered after the grant of the loan, it shall be deemed immediately due and demandable.
K.
SEPARATION FROM NFA
1. In case of retirement, resignation, transfer, termination or any other manner of separation of the borrower from NFA service prior to full payment of the loan, the remaining balance of the loan shall become immediately due and demandable.
2. Full settlement of the loan shall be made in the following manner:
a. Cash prior to issuance of Clearance.
b. In case the borrower could not pay in cash prior to issuance of clearance, it shall be deducted from claims, gratuity pay, terminal pay, separation pay, retirement pay, etc. due the employee from NFA and/or GSIS as per Contract of Expanded Vehicle Loan and Deed of Undertaking.
c. In case the borrower is not entitled to or could not collect from NFA and/or GSIS (i.e. those with accountability shortage; those with pending administrative case), or if the claims, gratuity pay, terminal pay, separation pay, retirement pay, etc. could not suffice to pay the remaining balance of the loan, full payment in cash shall be compelled.
3. If the borrower is still not able to pay the remaining balance of the loan after exhausting all the means mentioned above, NFA shall undertake foreclosure proceedings over the vehicle and/or any possible legal procedures against the borrower.
L.
RENEWAL OF LOAN
1. An employee may re-avail of the vehicle loan in the future provided that he/she has fully settled his account. His/her application, however, shall be deprioritized in favor of first timer applicants.
2. Slots for renewal applicants shall be given through a separate raffle using the same mechanics.
III. RESPONSIBILITIES
A.
C.O. DEPARTMENT/OFFICE/REGIONAL OFFICE/PROVINCIAL OFFICE
Conducts raffle of vehicle loan slots in their respective offices during the initial implementation of the program.
B.
Eligible Applicant
1. For employees whose names were drawn in the raffle during the initial implementation, submits duly accomplished application form with initial requirements to the Adm. Asst. / RAO / PAO.
2. For eligible employees who wish to apply after the initial implementation, submits application form to Benefits Unit-HRMD (C.O.) / AGS-R.O. to be able to join the raffle. Employees whose names were drawn in this raffle shall submit initial requirements to Benefits Unit-HRMD (C.O.) / AGS-R.O..
3. Submits a photocopy of the duly notarized Deed of Sale (for second hand vehicles) / Sales Invoice (for brand new vehicles); photocopy of the Chattel Mortgage Contract; original copy of the Mortgage Redemption Insurance (MRI) Policy; and the original copy of the LTO Certificate of Registration and a certified photocopy of the current Official Receipt, not later than thirty (30) days after the release of the vehicle loan, to Benefits Unit-HRMD (C.O.) / AGS-R.O..
4. Submits yearly a certified photocopy of the registration’s current Official Receipt and the original copy of the MRI renewal to Benefits Unit-HRMD (C.O.) / AGS-R.O.
C.
Benefits Unit-HRMD (C.O.)
Computes the EVLF allocation of central and regional offices and submits computation to DTBFM for remittance.
D.
Benefits Unit-HRMD (C.O.) / AGS (R.O.)
1. Computes the number of vehicle loan slots that will be allocated to each department / office / regional office / provincial office during the initial implementation of the program.
2. Monitors available slots for vehicle loan when funds become available from amortization payments and conducts raffle.
3. Screens/evaluates applications received as to eligibility of the applicant, completeness and authenticity of requirements, validity of the information in the application.
4. Coordinates with DTBFM (C.O.) / Finance Section (R.O.) as to the balance of the Expanded Vehicle Loan Fund Account.
5. Computes loanable amount to be indicated in the application form.
6. Submits applications to be recommended for approval by the HRMD Dept. Manager / Regional AO and to be approved by the Asst. Adm. for Administration / Regional Manager.
7. Upon approval of application, prepares voucher representing the loan.
8. Informs applicants regarding the date of approval of their applications and when it will be served.
9. Informs DAS (C.O.)/ Finance Section (R.O./P.O.) of the non-submission of additional/yearly requirements, so that the
entire loan
/ remaining balance
shall be collected from the borrower.
10. Monitors the expiration of LTO Registrations and MRIs and reminds the borrower concerned to submit a photocopy of the registration’s official receipt for renewal and the original copy of the MRI renewal.
11. After being notified by DAS (C.O.)/ Finance Section (R.O./P.O.) of the borrower’s default of payment, requests DLA C.O. to file appropriate charges and initiate foreclosure proceedings.
E.
GSD MOTORPOOL
Inspects second hand vehicles and accomplishes the required Inspection Report, Appraisal Report and Optional Accessories.
F.
AGS (R.O./P.O.)
Selects and authorizes a reputable motor shop in the area that will inspect second hand vehicles and accomplish the required Inspection Report, Appraisal Report and Optional Accessories.
G.
Finance Section (R.O.)
Informs Finance Section-P.O. of the release of loans to provincial office employees and instructs same to deduct monthly amortization from the employees’ salary.
H.
DAS(C.O.) / Finance Section (R.O.)
1. Maintains a ledger for the Expanded Vehicle Loan Fund (Exhibit 1) to monitor fund balance.
2. Processes vouchers corresponding to the loan.
I.
DAS(C.O.) / Finance Section (R.O.) / Finance Section (P.O.)
1. Issues clearance to the employee. Aside from noting down disallowances, shortages, balances and/or arrears of the employee’s existing loans, also notes down any record of delinquency in previous EVLP loans (in case of re-availment) and in other loans such as EDL, NFAEA, MPCI, etc.
2. Deducts monthly amortization from the salary of central / regional / provincial office borrowers. Prepares a monthly summary of vehicle loan amortization deducted from borrowers. Requests DTBFM / SCO (R.O./P.O.) for fund transfer from GOE to EVLF account.
3. Upon receipt of notice from Benefits Section-HRMD (C.O.) / AGS (R.O.) about the non-submission of additional / yearly requirements, notifies the borrower that the entire loan / remaining balance of the loan is now due and demandable. Makes arrangements to collect the loan.
4. In case of default in payment of monthly amortization and if other claims of the borrower is not sufficient to pay such, serves a reminder notice to the concerned employee [cc: Benefits Unit - HRMD (C.O.) / AGS (R.O.)] to pay the said amortization within fifteen (15) days from receipt of notice.
5. If the borrower does not settle the unpaid amortization after 15 days from receipt of notice, serves a demand notice for the immediate payment within 15 calendar days of the total outstanding balance plus 2% interest per month and 2% penalty per month on the unpaid amortization from the date of default [cc: Benefits Unit - HRMD (C.O.) / AGS (R.O.)].
6. If the delinquent borrower still does not settle his account, notifies Benefits Unit - HRMD (C.O.) / AGS (R.O.) of the default.
J.
DTBFM (C.O.)
Sets aside an Expanded Vehicle Loan Fund and provides fund for central and regional offices based on allocation prepared by HRMD.
K.
DTBFM (C.O.) / finance section (R.O.)
Opens a separate EVLF account.
L.
DTBFM (C.O.) / DESIGNATED CASHIER OR SDO OF THE REGIONAL OFFICE
Prepares check representing the loan and issues same to the applicant. Notifies Benefits Section-HRMD / AGS-R.O. of the release of the loan.
M.
DLA
1. Issues a “certificate of no pending case” to central office employees.
2. After receipt of notice from HRMD, sends a final demand notice to the delinquent borrower to pay his obligations within 15 calendar days from receipt thereof. If the borrower still does not pay, institutes a case of foreclosure of the chattel mortgage and files appropriate administrative or criminal case against the borrower.
N.
Enforcement & Investigation Section (R.O. / P.O.)
Issues a “certificate of no pending case” to regional/provincial office employees.
O.
DAS Dept. Manager / Regional / Provincial Accountant
Certifies to the correctness of the “certificate of earnings” portion of the application form and signs clearance from financial accountabilities.
P.
HRM Dept. Manager / Reg’l Administrative Officer
Certifies to the completeness and authenticity of the documents submitted and recommends approval of the application.
Q.
ASST. ADM. FOR Administration / Regional Manager
Approves/disapproves the loan application.
Implementation of this program shall be subject to availability of funds.
ANTHONY R. A. ABAD
NFA Administrator
Date Approved:
June 13, 2002
IV. FLOW CHART
Top Page
EXHIBITS
No documents found