The Philippine Deposit Insurance Corporation (PDIC) is set to sell via public bidding on an “as-is, where-is” basis 84 real properties with an aggregate minimum disposal value of about P44.41 million on February 5, 2013. The bidding, the first for the year, will be held at the Governor's Conference Hall located at the 3/F of the Provincial Capitol Hall in Bacolod City. Opening of bids will start at 2:00 p.m.

The real properties consisting of commercial and residential lots are mostly located in the various cities and provinces of Negros Occidental. The other properties are located in Aklan, Antique, Bohol, Camiguin, Cebu, Iloilo and Negros Oriental.

The PDIC will receive sealed bids only from direct buyers on February 5, 2013 from 9:00 a.m. to 2:00 p.m. No extension will be given for the submission of bids. Bidders are likewise advised to come early for the registration. Only bidders will be allowed entry to the venue.

Before submitting their bids, prospective buyers are advised to physically inspect the properties they are interested to buy; assess and verify the land titles and other documents; and determine unpaid taxes, fees or expenses. All bids must be accompanied by a bond or deposit equivalent to at least 10% of the submitted bid either in Cash or Manager’s or Cashier’s Check issued by a commercial bank. The winning bidder is required to pay the balance of the bid price not later than February 14, 2013.

Bid documents such as Bid Forms, Conditions of Bid, and acceptable formats for the Special Power of Attorney and Secretary’s Certificate may be downloaded from the PDIC website, www.pdic.gov.ph.

The list of property descriptions, vicinity maps and lot plans are also available through the PDIC website. For further information, interested bidders may contact Vice President Rosario C. Arnaldo (Asset Management and Disposal Group) or Ms. Marivic C. Puzon (Asset Management and Disposal Department) at telephone numbers, 841-4750 or 841-4754.

The PDIC regularly conducts public biddings to expeditiously dispose non-financial assets in support of its strategic directions under PDIC’s Roadmap to 2016. As Liquidator of closed banks, PDIC disposes assets acquired from closed banks to benefit the uninsured depositors and creditors by way of helping enhance recovery of their deposits and investments. Meantime, proceeds from the disposal of corporate assets are added to the Deposit Insurance Fund (DIF), the funding source for payouts of deposit insurance claims. The PDIC is tasked to prudently manage and continuously build up the adequacy level of the Fund.

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