Regulatory Alerts2018-07-29
Added · Updated
FEPD Circular No. 24: Issuance of bid bonds on behalf of residents in favor of non-residents
Authorized Dealers are permitted to issue bid bonds on behalf of residents in favor of foreign organizations or entities inviting tenders for the supply of goods or services, extending previous allowances limited to international agencies. Authorized Dealers must verify that resident suppliers have made necessary arrangements to comply with regulatory instructions regarding the cross-border delivery of goods or services and the repatriation of export proceeds within the stipulated time. All other existing instructions regarding this matter remain unchanged.
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