Guidelines for the Licensing of Category Quadruple A Contractors (Board Resolution No. 079, Series of 2017)
The Board Resolution No. 079, Series of 2017 establishes guidelines for licensing Quadruple A contractors in the Philippines, allowing for contractors with over 40% foreign equity to obtain a regular license. There are two license types: Quadruple A Platinum for locally owned contractors with at least PHP1 billion equity, and Quadruple A Gold for foreign-owned domestic corporations meeting the same equity requirement. Contractors must have an Authorized Managing Officer (AMO) who meets specific qualifications, including age and certification. The license enables contractors to undertake projects of significant contract costs, with strict renewal conditions based on maintaining financial and technical qualifications. Failure to meet these criteria can result in license invalidation or downgrade.
Quick Answers
- What is Guidelines for the Licensing of Category Quadruple A Contractors (Board Resolution No. 079, Series of 2017) about?
- The Board Resolution No. 079, Series of 2017 establishes guidelines for licensing Quadruple A contractors in the Philippines, allowing for contractors with over 40% foreign equity to obtain a regular license. There are two license types: Quadruple A Platinum for locally owned contractors with at least PHP1 billion equity, and Quadruple A Gold for foreign-owned domestic corporations meeting the same equity requirement. Contractors must have an Authorized Managing Officer (AMO) who meets specific qualifications, including age and certification. The license enables contractors to undertake projects of significant contract costs, with strict renewal conditions based on maintaining financial and technical qualifications. Failure to meet these criteria can result in license invalidation or downgrade.
- What type of law is Board Resolution No. 079, s. 2017?
- Guidelines for the Licensing of Category Quadruple A Contractors (Board Resolution No. 079, Series of 2017) (Board Resolution No. 079, s. 2017) is a Philippine Other Rules and Procedures enacted by the Congress of the Philippines.
- When was Guidelines for the Licensing of Category Quadruple A Contractors (Board Resolution No. 079, Series of 2017) enacted?
- Guidelines for the Licensing of Category Quadruple A Contractors (Board Resolution No. 079, Series of 2017) (Board Resolution No. 079, s. 2017) was enacted on Mar 27, 2017.
- What is the citation for Guidelines for the Licensing of Category Quadruple A Contractors (Board Resolution No. 079, Series of 2017)?
- Guidelines for the Licensing of Category Quadruple A Contractors (Board Resolution No. 079, Series of 2017), Board Resolution No. 079, s. 2017, Mar 27, 2017 (Philippines)
Law Information
- Reference Number
- Board Resolution No. 079, s. 2017
- Date Enacted
- Category
- Other Rules and Procedures
- Subcategory
- Construction Industry
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
March 27, 2017
GUIDELINES FOR THE LICENSING OF CATEGORY QUADRUPLE 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. DAKAYChairman
(SGD.) FAROUK M. MACARAMBON, SR.Member
(SGD.) FILOMENO H. CASTILLO, JR.Member
Attested by:
(SGD.) ALEJANDRIA G. GOMEZActing Executive Director
(SGD.) SERGIE T. RETOMEBoard Secretary
Cite This Law
Guidelines for the Licensing of Category Quadruple A Contractors (Board Resolution No. 079, Series of 2017), Board Resolution No. 079, s. 2017, Mar 27, 2017 (Philippines)
Guidelines for the Licensing of Category Quadruple A Contractors (Board Resolution No. 079, Series of 2017), Board Resolution No. 079, s. 2017 (Phil. 2017)
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