BAGUIO CITY — The Philippine Deposit Insurance Corporation (PDIC) is set to sell through electronic public bidding (e-bidding) a total of 52 commercial, residential, agricultural, and mixed-use lots.
Electronic bids will be accepted through the PDIC e-bidding portal, https://assetsforsale.pdic.gov.ph, starting at 9:00 am on January 22, 2025, until 1:00 pm on January 23, 2025, and will be opened at 2:00 pm on January 23, 2025.
To be sold on an as-is-where-is basis are closed banks’ assets consisting of 38 residential lots, eight vacant agricultural lots, three agricultural lots with improvements, two vacant residential/agricultural lots, and one commercial lot with improvements.
Property areas range from 13 to 46,994 square meters.
Prospective parties can join the e-bidding through a one-time registration on the portal at http://assetsforsale.pdic.gov.ph/Account/Register.
Once registered, buyers may submit their bids online and observe the e-bidding proceedings by clicking the “Assets for Sale” icon on the PDIC website’s homepage at www.pdic.gov.ph.
Interested buyers can browse through the catalog of properties on the e-bidding portal where the complete list and description of the properties, requirements, e-bidding process, and Conditions of Bid are posted.
Prospective bidders are encouraged to get familiar with the terms and conditions outlined by the PDIC and are reminded of their responsibility to determine the actual condition, status, ownership, and other circumstances of the properties they wish to acquire.
Winning bidders of agricultural properties are required to submit, within fifteen (15) days after the e-bidding, a Certification issued by the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform where the property is located that the agricultural lot subject of the bid is not covered by the Comprehensive Agrarian Reform Program (CARP) and that no Emancipation Patent or Certificate of Land Ownership Awards has been issued for the said property.
Winning bidders are also required to submit an Affidavit of Aggregate Landholdings within the same period, which states that the person’s collective landholdings, including the property/ies to be acquired during the bidding, do not exceed the five-hectare limit set by law.
The prescribed format for the Certification and Affidavit can be obtained from the Download Center of the e-bidding portal, https://assetsforsale.pdic.gov.ph.
Participants bidding on behalf of another individual or an organization can download the Pro-forma Special Power of Attorney and Secretary’s Certificate, respectively, from the e-bidding portal.
As the statutory receiver of closed banks, the PDIC liquidates the remaining assets of closed banks to maximize recovery and help pay claims of closed bank creditors, including depositors with uninsured deposits.
Proceeds from the sale of closed bank-owned properties go directly to a fund that the Corporation manages for these closed banks to settle creditors’ claims.
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