Commercial, residential lots for sale via public e-bidding on July 15

The Philippine Deposit Insurance Corporation (PDIC) will sell a total of 55  commercial and residential lots owned by closed banks for an aggregate  minimum disposal price of PhP31.9 million through electronic public bidding (e bidding) at https://assetsforsale.pdic.gov.ph on July 15, 2021. 

A one-time registration in the PDIC e-bidding portal is required for interested  buyers to enable them to participate in thee-biddings. Interested buyers may  visit the e-bidding portal for the registration procedures.  

Online bids shall be accepted by the PDIC Real and Other Properties Acquired  (ROPA) Disposal Committee only from direct buyers who registered in the e bidding portal. Online bids may be placed between 9:00 A.M. on July 14, 2021  and 1:00 P.M. on July 15, 2021. The e-bidding portal may also be accessed by clicking the “Assets for Sale” icon in the PDIC website homepage  at www.pdic.gov.ph. 

To be sold on an “as-is, where is” basis are 34 residential lots, 16 residential lots  with improvement, and four commercial lots with improvements, two of which  will be sold together with a 79 square meters road right of way. The properties  are located in Batangas, Camarines Norte, Laguna, Marinduque, Oriental  Mindoro and Quezon. 

The complete list and description of the properties, requirements, e bidding process, and Conditions of Bid are posted on the e-bidding portal.  Bid documents such as the required format of the Special Power of Attorney  and Secretary’s Certificate, when needed, may be downloaded from the site. 

For more information on the e-bidding, interested buyers may call the PDIC  Public Assistance Department at (02) 8841-4141. Those outside Metro Manila  may call the PDIC toll-free hotline at 1-800-1-888- PDIC or 1-800-1-888-7342.  Inquiries may also be sent via e-mail to pad@pdic.gov.ph, or by private 

message to PDIC’s Assets for Sale Facebook page (@PDICAssetsforSale) or  PDIC’s official Facebook page (@OfficialPDIC). 

The PDIC, as liquidator of closed banks, disposes of various assets  through public biddings and negotiated sale. 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 in accordance with  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. 

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963  by Republic Act 3591 to provide depositor protection and help maintain stability in the  financial system by providing deposit insurance. Effective June 1, 2009, the maximum  deposit insurance coverage is PhP500,000 per depositor. All deposit accounts by a  depositor in a closed bank maintained in the same right and capacity shall be added  together. A joint account shall be insured separately from any individually-owned  deposit account.