The Philippine Deposit Insurance Corporation (PDIC) will dispose on an "as-is, where-is" basis a total of 175 real properties acquired by the Corporation and owned by closed banks through sealed bidding on October 2, 2015. Interested buyers may submit their bids to the Real and Other Properties Acquired (ROPA) Disposal Committee Secretariat at the PDIC Claims Counter located at the 4th Floor, SSS Building, 6782 Ayala Avenue, cor. V.A. Rufino St., Makati City from 9:00 a.m. to 2:00 p.m. Opening of bids is set at 2:00 p.m.

With combined minimum disposal price of P254.25 million, the real properties are located in Parañaque City and in the provinces of Agusan del Norte, Agusan del Sur, Albay, Batangas, Bukidnon, Camarines Norte, Camarines Sur, Cavite, Davao del Norte, Davao del Sur, General Santos City, Laguna, Marinduque, Misamis Oriental, Misamis Occidental, Negros Occidental, North Cotabato, Occidental Mindoro, Oriental Mindoro, Palawan, Quezon, Quirino, Sarangani, South Cotabato, Sultan Kudarat, Zamboanga del Norte and Zamboanga del Sur.

Bidders for the sealed bidding are advised to bring proper identification (ID) with photo and to register at least one hour prior to start of the submission of bids. Bid documents such as Bid Forms, Conditions of Bid, and standard format of the Special Power of Attorney and Secretary's Certificate may be downloaded free of charge from the PDIC website, www.pdic.gov.ph.

Prospective buyers are also advised to physically inspect the properties they are interested in, examine and verify the titles and other documents, and determine any unpaid taxes, fees and/or expenses before submitting their bids.

Each bid should be accompanied by a bond/deposit equivalent to at least 10% of the submitted bid, in the form of cash or Manager's or Cashier's Check, or a combination thereof, issued by a universal or reputable commercial bank payable to PDIC. The winning bidder should pay the balance of the bid no later than October 13, 2015.

The expeditious disposal of non-financial assets is among the objectives outlined in PDIC's strategic directions. Towards this end, PDIC, as liquidator of closed banks, employs various asset-disposal initiatives such as biddings, auctions and negotiated sale. Proceeds from the sale of closed banks' properties are used to settle claims of uninsured depositors and creditors, while gains from the sale of corporate assets are added to the Deposit Insurance Fund, PDIC's main fund source for payment of valid deposit insurance claims.

For more information on the real properties and on the sealed bidding, interested parties may get in touch with the ROPA Disposal Committee Secretariat at telephone number (02) 841-4000 local 4747 or 4748.

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