PDIC to dispose properties via e-bidding in September

CEBU, Philippines — A total of 80 agricultural, residential, and mixed-use lots are up for sale by the Philippine Deposit Insurance Corporation (PDIC) through an electronic public (e-bidding) portal on September 25 and 26, 2024.

According to PDIC, to be sold on an as-is-where-is basis are corporate and closed banks’ assets consisting of 64 agricultural lots, five agricultural lots with improvements, five mixed residential/agricultural lots, four mixed residential/agricultural lots with improvements, and one residential lot bundled with an agricultural lot located in Aklan, Aurora, Batangas, Bulacan,

Cagayan, Camarines Norte, Camarines Sur, Cebu, Isabela, Maguindanao, North Cotabato, Nueva Ecija, Pampanga, Pangasinan, Quezon, Rizal, Sultan Kudarat, Tarlac and Western Samar. Property sizes range from 240 square meters to 236,840 square meters.

Prospective parties can join the e-bidding through a one-time registration on the portal at http://assetsforsale.pdic.gov.ph/Account/Register. Once registered, buyers may submit their bids online and observe the e-bidding proceedings by clicking the “Assets for Sale” icon on the PDIC website’s homepage at www.pdic.gov.ph.

Interested buyers can browse through the catalog of properties on the e-bidding portal where the complete list and description of the properties, requirements, e-bidding process, and Conditions of Bid are posted. Prospective bidders are encouraged to get familiar with the terms and conditions outlined by the PDIC and are reminded of their responsibility to determine the actual condition, status, ownership, and other circumstances of the properties they wish to acquire.

For agricultural lot buyers, PDIC advised bidders to submit a Certification issued by the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform where the property is located and that the agricultural lot subject of the bid is not covered by the Comprehensive Agrarian Reform Program (CARP) and that no Emancipation Patent or Certificate of Land Ownership Awards has been issued for the said property. Bidders of agricultural lots are also required to submit an Affidavit of Aggregate Landholdings, which states that the person’s collective landholdings - including the property or properties to be acquired during the bidding - do not exceed the five-hectare limit set by law.

The prescribed format for the Certification and Affidavit can be obtained from the Download Center of the e-biddingportal, https://assetsforsale.pdic.gov.ph.

Likewise, for the agricultural lot buyers, bidders must submit a Certification issued by the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform where the property is located that the Comprehensive does not cover the agricultural lot subject of the bid Agrarian Reform Program (CARP) and that no Emancipation Patent or Certificate of Land

Ownership Awards have been issued for the said property. Bidders of agricultural lots are also required to submit an Affidavit of Aggregate Landholdings, which states that the person’s collective landholdings - including the property or properties to be acquired during the bidding - do not exceed the five-hectare limit set by law. The prescribed format for the Certification and Affidavit can be obtained from the Download Center of the e-bidding portal, https://assetsforsale.pdic.gov.ph.

Participants bidding on behalf of another individual or an organization can download the Pro-forma Special Power of Attorney and Secretary’s Certificate, respectively, from the e-bidding portal.

As the statutory receiver of closed banks, the PDIC liquidates the remaining assets of closed banks to maximize recovery and help pay claims of closed bank creditors, including depositors with uninsured deposits. Proceeds from the sale of closed bank-owned properties go directly to a fund that the Corporation manages for these closed banks to settle creditors’ claims.

Meanwhile, revenues from the sale of corporate assets are added to the Deposit Insurance Fund, the funding source for valid deposit insurance claims.