LOCATORS’ BUSINESS BULLETIN SBMA Board Resolution No. 12-03-4327

SUBIC BAY FREEPORT ZONE, 04/16/12 – The Subic Bay Metropolitan Authority, through its Board of Directors, recently effected the imposition of administrative fees for processing post-registration requests of SBF locators. The resolution, which was approved by the SBMA board last March 16, 2012 took effect on April 16, 2012, 30 days after the approval of the motion.

Whereas before, prospective locators were only required to pay a one-time filing fee of US$50.00 for the initial processing of their investment application with succeeding requests being processed without additional charges, the resolution provides for an additional PhP 2,500.00 to be charged for post-registration processing.

Scope and Limitation

1. The Administrative Fee is imposable to all registered and/or existing locators with "post-registration" requests, such as, but not limited to the following:
   1. Renewal of lease and/or sublease agreements
   2. Downgrade of SBF business license as requested by locator
   3. Delisting of SBF locator as requested by locator
   4. Amendment of lease and/or sublease agreements
      1. Reduction of lease area
      2. Reduction of actual total leased area
      3. Increase/reduction of lease rate
      4. Additional/reduction/amendment of registered business activity
      5. Typographical error corrections
      6. Change of approved corporate name
      7. Change of commencement date
      8. Additional/change of grace period
      9. Change of address/location
      10. Withdrawal of approved projects as requested by locator
   5. Pre-termination of lease and/or sublease agreements
   6. Transfer of Leasehold Rights
   7. Assignment of Leasehold rights
2. All requests made by incoming locators prior to registration shall be free of charge (i.e. change of corporate name).
3. Locator's requests relative to expansion project/s shall also be exempted from the policy. Requests under expansion shall include:
   1. Acquisition
   2. Merger
   3. Additional facility

Policy Guidelines

1. Upon receipt of locators' letter of request or intent, BID issues Billing Statement. The administrative fee is payable at the Treasury Department, Ground Floor, Building 229.
2. For multiple requests, payment is considered single, provided that multiple requests are indicated in just one letter of intent, received by the BID on the same day.

Effectivity Date

The Policy on Imposition of Administrative Fees for Processing Post Registration Requests of SBF Locators shall become effective 30 days after SBMA Board's approval and after publication or posting of the same in the SBMA website, appropriate offices and public places of the Freeport, or by publication in local print media.

Reference:
SBMA Board Resolution No. 12-03-4327 on "Policy on Imposition of Administrative Fees for Processing Post Registration Requests of SBF Locators" (Click here)