CIAP Guidelines for the Licensing of Category Quadruple A Contractors (Board Resolution No. 079, Series of 2017)

March 27, 2017 CIAPGUIDELINES FOR THE LICENSING OF CATEGORYQUADRUPLE A CONTRACTORS (BOARD RESOLUTION NO.079, SERIES OF 2017) Introduction The Quadruple A category license is a new category that will allow for the issuance of a regular license (with annotation) to contractors with more than 40% foreign equity participation. Scope of Registration A newly organized domestic corporation (up to 100% foreign-owned) whose purpose is construction is eligible to apply for the category. Likewise, a licensed contractor who has an equity/networth at least PHP1 Billion may apply for upgrading to Quadruple A. There will be two types of Quadruple A Licenses: 1. Quadruple A Platinum locally owned licensed contractors with at least PHP1 Billion equity 2. Quadruple A Gold foreign-owned domestic corporation with at least PHP1 Billion equity Authorized Managing Officer (AMO) The AMO may be a foreigner provided that the foreign AMO complies with the PCAB qualification standards of a Filipino AMO. The AMO should be at least 35 years old. The AMO should complete the AMO seminar, COSH and pass the AMO examination and interview by the Board. Financial Qualification The Financial Qualification shall be evidenced by Audited Financial Statements with at least PHP1 Billion equity. For newly organized foreign owned subsidiaries, the equity of PHP1 Billion in cash shall be evidenced by inward remittance through the Bangko Sentral ng Pilipinas. Technical Qualification The Technical Qualification shall be that of the AAA category. Limitation of the License Quadruple A Gold contractors may undertake private projects under the following contract cost: aDSIHc For vertical projects minimum contract cost of PHP5 Billion For horizontal projects minimum contract cost of PHP3 Billion Quadruple A Platinum contractors may undertake government and private projects of any contract cost. The Quadruple A category shall be limited to general contractors. However, Quadruple A contractors may engage licensed subcontractor/specialty contractors to work on portions of its projects. Renewal Quadruple A Gold contractors should maintain the Financial and Technical Qualifications for Quadruple A category. If a Quadruple A contractor does not maintain its P1 Billion equity, its license will be invalidated. Quadruple A Platinum contractors who fail to meet the Financial and Technical Qualifications shall be downgraded to the highest category they will qualify for." Unanimously Approved. March 27, 2017, Makati City. (SGD.) PERICLES P. DAKAY Chairman (SGD.) FAROUK M. MACARAMBON, SR. Member (SGD.) FILOMENO H. CASTILLO, JR. Member Attested by: (SGD.) ALEJANDRIA G. GOMEZ Acting Executive Director (SGD.) SERGIE T. RETOME Board Secretary