Notice on Coverage of Republic Act No. 9510 or Credit Information System Act

June 7, 2016

CIC CIRCULAR NO. 01-16

 

Pursuant to Republic Act (R.A.) No. 9510 entitled: An Act Establishing the Credit Information System and for Other Purposes otherwise known as the Credit Information System Act, and its Implementing Rules and Regulations (IRR), this Circular is hereby issued to give notice of the inclusion of the above-mentioned entities within the scope of the said law.

SECTION 1. Background. —

R.A. No. 9510 has mandated the creation of the Credit Information Corporation (CIC) for the establishment of a comprehensive, centralized and reliable credit information system in the Philippines. The objective of R.A. No. 9510 is to establish a database relating to the credit standing and track record of borrowers for the purpose of determining creditworthiness. Likewise, under the said law, those identified as Submitting Entities are required to submit Basic Credit Data and must submit updates in a frequency and format determined by the CIC.

Under the same law, the CIC is also authorized to identify other entities, that in the course of the nature of their business may generate data which, when combined with the data from other Submitting Entities, becomes relevant to the determination of an individual's creditworthiness.

The term Submitting Entity refers to any entity that provides credit facilities such as, but not limited to, banks, quasi banks, trust entities, investment houses, financing companies, cooperatives, non-governmental, micro-financing organizations, credit card companies, insurance companies and government lending institutions.

The term Basic Credit Data, for purposes of this Circular, is described as data elements and data formats as required by the CIC.

The type of data collected by the CIC from identified sources is limited to those relevant and related to data to be submitted by the other Submitting Entities. Subject data elements will be used for precise identification and matching while Contract Data will be used for the purpose of determining payment behaviors and the existence of outstanding obligations. All other types of data beyond identity and payment behavior, such as consumption patterns and other types of consumer behaviors and activities, are currently not required by the CIC.

In this regard, the CIC has determined that Telecommunications Companies are within the purview of the law whose data is relevant for determination of creditworthiness and in making credit decisions. CAIHTE

SECTION 2. Coverage and Definition of Terms. —

This Circular shall apply to Telecommunications Companies.

Basic Credit Data refers to positive and negative information gathered by an identified Submitting Entity on its Telecommunications Company Subscriber in connection with the availment of products and/or services, specifically Subject and Contract Data.

Subject and Contract Data refers to Telecommunications Company Subscriber's data elements, relevant contract details, and all payment behaviors generated by a Telecommunications Company Subscriber in connection with the availment of products and/or services from a Telecommunications Company.

Current Data refers to all active and existing Subject and Contract Data of all customers or subscribers on the required date of submission.

Historical Data refers to all Subject and Contract Data of customers or subscribers, whether active or inactive, as specified in this Circular.

Telecommunications Company refers to any person, firm or partnership or corporation, government or private, who has been granted a legislative franchise by Congress or any agent or distributor, under license, contract, or any commercial agreement from a Telecommunications Company to provide basic and enhanced telecommunications services, including mobile, cellular and wired or wireless telecommunications systems, fiber optics, multichannel transmission distribution systems, satellite transmit and receive systems, and other telecommunications systems and their value-added services such as, but not limited to, transmission of voice, data, facsimile, control signals, audio and video, information service bureau and all other telecommunications systems, to the general public, and issued a certificate of public convenience and necessity (CPCN) by the National Telecommunications Commission (NTC) or any government agency which granted regulatory powers over the same.

Telecommunications Company Subscriber refers to any person, firm or partnership or corporation, government or private, that avails of telecommunications services, including mobile, cellular and wired or wireless telecommunications systems, fiber optics, multichannel transmission distribution systems, satellite transmit and receive systems, and other telecommunications systems and other value-added services such as but not limited to transmission of voice, data, facsimile, control signals, audio and video, information service bureau and all other telecommunications systems.

SECTION 3. Submission of Subject and Contract Data. —

The deadline for submission of the current Subject and Contract Data shall be on December 31, 2016.

Submission of historical data shall be as follows:

	Scope of Historical Data	Deadline of
	to be submitted	Submission
1st Tranche	January 1, 2014 to	31 March 2017
(minimum	December 31, 2015
submission)
2nd Tranche	January 1, 2011 to	30 June 2017
	December 31, 2013

Subsequent to the submission of the current Subject and Contract Data, Telecommunications Companies shall update said data regularly and completely, not later than the 5th day of every month and in the form/format and manner prescribed by the CIC. It must be ensured that the Subject and Contract Data of its customers submitted to the CIC is accurate, complete, and correct.

SECTION 4. Technical Requirements. —

The Submitting Entity Information Sheet (Annex "A") must be accomplished and submitted together with the Secretary's Certificate (template of which is enclosed as Annex "B") or equivalent document that is acceptable to the CIC, designating the persons/representatives duly authorized to submit, as well as access the error report folders of the CIC's Credit Information System.

Note: The technical requirements and guidelines for submission to the CIC along with the complete list of data elements and data formats can be requested from the CIC by sending an e-mail to: [email protected]

SECTION 5. Repealing Clause. —

All issuances, orders, rules and regulations or parts thereof that are inconsistent with the provisions of this Circular are hereby repealed, amended or modified accordingly.

SECTION 6. Separability Clause. —

Should any provision of this Circular be declared invalid or unconstitutional, the other provisions not affected thereby shall remain valid and subsisting.

SECTION 7. Effectivity. —

This Circular shall be effective fifteen (15) calendar days after the date of its publication either in the Official Gazette or in a newspaper of general circulation in the Philippines and upon filing with the University of the Philippines Law Center of three (3) certified copies. DETACa

Signed this 7th day of June 2016, Makati City, Philippines.

(SGD.) MR. JAIME CASTO JOSE P. GARCHITORENAPresident