DPWH Department Order No. 03-A (2009)

(NAR) VOL. 20 NO.2 / APRIL - JUNE 2009

[ DPWH DEPARTMENT ORDER NO. 03-A, S. OF 2009, June 05, 2009 ]

AMENDMENT TO D.O. NO. 3, SERIES OF 2009, REDUCING THE MINIMUM PAID-UP CAPITAL REQUIREMENTS FOR DPWH ACCREDITATION OF SURETY AND INSURANCE COMPANIES FROM P500M TO P100M

In consideration of the appeal of various surety and insurance companies to reduce the minimum paid-up capital requirement of Five Hundred Million Pesos (P500,000,000.00) for accreditation of surety and insurance companies and to encourage accreditation of more companies with less than P500.00 Million paid-up capital but are found refutable based on their track records, the minimum paid-up capital requirements is hereby reduced from P500.00 Million to P100.00 Million with the following categories on the limit of participation depending on the cost of the project/s to be insured: COST OF PROJECT PAID-UP BID PERFORMANCE WARRANTY SURETY BOND CARI CAPITALSECURITY SECURITY BOND ADVANCEDRETENTION PAYMENT MONEY < 100 < No Limit < 100.00 M < 100.00 M < 100.00 M 100.00< 100.00 M 200M M < 200 < No Limit < 200.00 M < 200.00 M < 200.00 M 200.00< 200.00 M 300M M < 300 < No Limit < 300.00 M < 300.00 M < 300.00 M 300.00< 300.00 M 400M M < 400 < No Limit < 400.00 M < 400.00 M < 400.00 M 400.00< 400.00 M 500M M 500M & No No Limit No Limit No Limit No Limit No Limit above Limit This Order shall take effect immediately. Adopted: 5 June 2009

(SGD.) HERMOGENES E. EBDANE, JR. SecretarySource: Supreme Court E-Library