For Clients/Accounts with Restructured Loans and Lessees of Acquired Properties
On March 26, 2020, the Philippine Guarantee Corporation (PhilGuarantee) announced a moratorium on loan amortization and lease rentals for clients with restructured loans and lessees of acquired properties, effective from March 16 to May 31, 2020. During this period, no additional interest or penalties will be incurred. This measure is part of the assistance provided in response to the Enhanced Community Quarantine due to COVID-19. Clients are encouraged to direct inquiries to designated helpdesk emails for further assistance.
Law Information
- Reference Number
- PGC Advisory No. 002-20
- Date Enacted
- Subcategory
- Philippine Guarantee Corporation
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
March 26, 2020
PGC ADVISORY NO. 002-20
FOR CLIENTS/ACCOUNTS WITH RESTRUCTURED LOANS AND LESSEES OF ACQUIRED PROPERTIES
Further to our Advisory dated 20 March 2020, also as part of the immediate assistance of PHILGUARANTEE in view of the Enhanced Community Quarantine due to the COVID-19 contagion, this is to inform clients/accounts that:
l.) A moratorium is hereby granted for the payment of loan amortization and lease rentals for restructured loans and lessees of acquired properties. The moratorium is effective March 16 to May 31, 2020;
2.) For the above, no additional interest and penalties shall be incurred during the aforesaid period.
Inquiries and concerns shall be coursed through the following helpdesk emails:
[email protected] (for Corporates/SMEs/Agriculture Business/Support Operations)
[email protected] (for Housing Business/Recoveries & Asset Management/Collection & Claims and AGFP-related Recoveries & Claims)
We thank you for your understanding. Keep safe from COVID-19 everyone.
(SGD.) ALBERTO E. PASCUALPresident and Chief Executive Officer
Cite This Law
For Clients/Accounts with Restructured Loans and Lessees of Acquired Properties, PGC Advisory No. 002-20, Mar 26, 2020 (Philippines)
For Clients/Accounts with Restructured Loans and Lessees of Acquired Properties, PGC Advisory No. 002-20 (Phil. 2020)
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