PDIC sets e-bidding of Luzon, Mindanao lots

THE Philippine Deposit Insurance Corp. (PDIC) is set to sell on June 10, 2022 via electronic public bidding (e-bidding) a total of 29 agricultural lots located in Luzon and Mindanao; and owned by various closed banks.

To be sold individually and on an “as-is, where-is” bases are the following: 23 agricultural lots; four agricultural lots with improvement; a vacant mixed agricultural/ residential lot; and, a mixed agricultural/ residential lot with improvement. These are located in Camarines Sur, Laguna, Marinduque, North Cotabato, Palawan, Sarangani and South Cotabato.

According to the PDIC, the property sizes of the agricultural lots are between 191 square meters (sqm) and 67,110 sqm with the minimum disposal prices ranging from P267,000 to P4.6 million. Combined, the minimum disposal price of the 29 properties amounts to P52.2 million.

Interested buyers may send their bids online via the PDIC e-bidding portal at https:// assetsforsale.pdic.gov.ph starting 9:00 a.m. on June 9, 2022, to 1:00 p.m. on June 10, 2022. Bids will be opened at 2:00 p.m. on June 10, 2022. A one-time registration to the e-bidding portal is required from interested buyers. For procedures on the one-time registration, interested buyers may visit the ebidding portal at https://assetsforsale.pdic. gov.ph/account/register.

The complete list and description of the properties, requirements, e-bidding process, and Conditions of Bid are posted on the ebidding portal. The PDIC also reminded bidders of their responsibility to determine the actual condition, status, ownership and other circumstances of the properties they wish to acquire.

As part of the bid requirements, bidders must submit a certification that the property subject of the bid is not covered by the Comprehensive Agrarian Reform Program and that no Emancipation Patent or Certificate of Land Ownership Awards has been issued for the said property. The certification is issued by the Provincial Agrarian Reform Officer of the Department of Agrarian Reform where the property is located.

All bidders are also required to submit an Affidavit of Aggregate Land Holdings, which states that the person’s aggregate landholdings—including the property/ ies to be acquired during the bidding—do not exceed the 5-hectare limit set by law. The standard format for this affidavit can be downloaded from the e-bidding portal, the PDIC said.

For participants who are submitting bids on behalf of another individual or an organization, respectively, the standard format of the Special Power of Attorney and Secretary’s Certificate can likewise be downloaded from the said portal.

As a liquidator, the PDIC disposes of various closed bank assets through public biddings and negotiated sales. Proceeds from the liquidation of closed banks’ properties are added to the pool of liquid assets of these banks for distribution to uninsured depositors and other creditors subject to the rules on concurrence and preference of credits. The disposal of these assets increases the chances of recovery of uninsured depositors and creditors of their trapped funds in the closed banks.