ALL UPLBCDC MEMBERS:
This is to notify you that pursuant to Republic Act (R.A.) No. 9510 and its Implementing Rules and Regulations (IRR), creating the Credit Information Corporation (CIC), UPLBCDC is mandated to submit all borrowers’ basic credit data (as defined in R.A. No. 9510 and its IRR), as well as any regular updates or corrections thereof, to the CIC for consolidation and disclosure as may be authorized by the CIC.
Consequently, borrowers’ basic credit data may thus be shared with other lenders authorized by the CIC, and other credit reporting agencies duly accredited by the CIC, for the purpose of establishing creditworthiness. For more information, please visit the CIC website at www.creditinfo.gov.ph.
The borrower information, including positive and negative credit information per borrower, will be submitted by UPLBCDC to the CIC on a monthly basis, starting October 1, 2016.
Please note that Share Capital and Deposits are excluded from the submission to the Credit Information Corporation.
As an addendum to the existing UPLBCDC loan documents, the following provision shall be added to comply with CIC requirements:
“I hereby acknowledge and authorize the UPLB Credit and Development Cooperative and its representatives: 1) the regular submission and disclosure of my basic credit data (as defined under Republic Act No. 9510 and its Implementing Rules and Regulations) to the Credit Information Corporation (CIC) as well as any updates or corrections thereof; and 2) the sharing of my basic credit data with other lenders authorized by the CICredit reporting agencies duly accredited by the CIC.”
Name and Signature of Member TIN:____________________
For questions or clarifications, please do not hesitate to call us at (049) 536-2830, 536-2263, 536-3638, 501-2059, 536-2949, 536-7668 or email firstname.lastname@example.org.
Thank you very much.
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