MORNBFI Vol. 1 - Planters Development Bank

§§ 4307Q.2 - 4309Q.108.12.31statement in writing setting forth thefollowing information:a. The cash price or delivered priceof the property or service to be acquired;b. The amounts, if any, to be creditedas down payment and/or trade-in;c. The difference between the amountsset forth under Items “a” and “b”;d. The charges, individually itemized,which are paid or to be paid by such personin connection with the transaction but whichare not incident to the extension of credit;e. The total amount to be financed;f. The finance charges expressed interms of pesos and centavos; andg. The percentage that the finance chargebears to the total amount to be financedexpressed as a simple annual rate on theoutstanding unpaid balance of the obligation.The contract covering the credittransaction, or any other document to beacknowledged and signed by the debtor,shall indicate the above seven (7) items ofinformation. In addition, the contract ordocument shall specify additional charges,if any, which will be collected in casecertain stipulations in the contract are notmet by the debtor.In case the seven (7) items ofinformation mentioned are not disclosed inthe contract covering the credit transaction,all of the items, to the extent applicable,shall be disclosed in another document inthe form (Appendix Q-11) prescribed by theMonetary Board, to be signed by the debtorand appended to the main contract. A copyof such disclosure statement shall befurnished to the borrower.§ 4307Q.3 (2008 - 4309Q.3) Inspectionof contracts covering credit transactions.QBsshall keep in their office or place of businesscopies of contracts which involve theextension of credit and the payment offinance charges therefore. Such copies shallbe available for inspection or examinationby the appropriate department of the SES.§ 4307Q.4 (2008 - 4309Q.4) PostersAn abstract of R.A. No. 3765 (AppendixQ-12) shall be reproduced in a format sixty(60) cm. wide and seventy-five (75) cm. longand posted on a conspicuous place in theQB’s place(s) of business.Sec. 4308Q(Reserved)Sec. 4309Q (2008 - 4311Q) Non-Performing Loans§ 4309Q.1 (2008 - 4311Q.1) Accountsconsidered non-performing; definitionsa. Non-performing loans (NPLs) shall,as a general rule, refer to loan accountswhose principal and/or interest is unpaidfor thirty (30) days or more after due dateor after they have become past due inaccordance with existing rules and regulations.This shall apply to loans payable in lump sumand loans payable in quarterly, semi-annualor annual installments, in which case, the totaloutstanding balance thereof shall beconsidered non-performing.b. In the case of loans payable inmonthly installments, the total outstandingbalance thereof shall be considerednon-performing when three (3) or moreinstallments are in arrears.c. In the case of loans payable in daily,weekly or semi-monthly installments, thetotal outstanding balance thereof shall beconsidered non-performing at the sametime that they become past due inaccordance with Sec. 4306Q, i.e., the entireoutstanding balance of the loan/receivableshall be considered as past due when thetotal amount of arrearages reaches tenpercent (10%) of the total loan/ receivablebalance.d. Restructured loans shall beconsidered non-performing in accordancewith existing rules and regulations.e. All items in litigation as defined inthe Manual of Accounts shall be consideredNPLs.Q RegulationsPart III - Page 14Manual of Regulations for Non-Bank Financial Institutions