March 1, 2018

The Philippine Deposit Insurance Corporation (PDIC) is set to bid out five Toyota Hi-Ace commuter vans with combined minimum disposal price of PHP713,000.00, on March 7, 2018. The public bidding on an “as-is, where is” basis, will be held at the 6th Floor, SSS Building, 6782 Ayala Avenue, cor. V.A. Rufino St., Makati City. The vehicles are available for inspection from March 2 to 5, 2018.

Sealed bids shall be accepted by the PDIC Unserviceable Property Disposal Committee (UPDC) from direct buyers only not later than 2:30 P.M. on March 7, 2018. Bid Forms and Conditions of Bid may be secured from the PDIC Procurement and Property Department (PPD) at the 6th Floor, SSS Building, 6782 Ayala Avenue, cor. V.A. Rufino St., Makati City. Inquiries may be coursed thru the PPD at telephone numbers 841-4929 or 842-4919, via e-mail at pad@pdic.gov.ph or by private message through PDIC’s official Facebook account at www.facebook.com/OfficialPDIC.

The bid should be accompanied by a bond/deposit equivalent to at least 10% of the submitted bid, in cash or Manager's Check, or a combination thereof. The Manager’s Check should be issued by a reputable universal or commercial bank and payable to Philippine Deposit Insurance Corporation or PDIC. The UPDC shall issue a Certificate of Award to the winning bidder upon approval of the PDIC Board. From receipt of the Certificate of Award, the winning bidder should pay the balance of the bid/purchase price within two working days. If the date falls on a Saturday or Sunday, the balance should be paid on the next working day. The UPDC shall automatically cancel the award if the issued checks are not cleared.

Interested bidders are required to bring proper identification document (ID) with photo and to register at least one hour prior to the deadline for submission of bids. PDIC reserves the right to withdraw without prior notice any or all of the motor vehicles offered for sale any time before the deadline for submission of bids, and to reject any or all bids or to accept such offers as may be considered by the UPDC as most advantageous to the PDIC.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is PHP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.