February 14, 1979
CBP CIRCULAR LETTER
| TO | : | All Premyo Savings Bonds "Biglang-Bahay" Series Bank Service Agencies |
| SUBJECT | : | Procedure for Payment of Prize Claims in the Form of Cash to Service Agency Holders of Winning Bonds |
In implementation of Ministry Order No. 4-79, series of 1979, copy attached, providing for the payment of prizes of winning Premyo Savings Bond "Biglang-Bahay" series, in the form of cash at the option of the Human Settlements Development Corporation if the holder thereof is a service agency, the following procedure shall be observed..
1. The service agency shall prepare the usual prize claim for Premyo Savings Bonds.
2. The prize claim shall be forwarded to the HSDC with the request that payment be made in the form of cash. cdpr
3. On the basis of the above prize claim, the service agency bank shall debit the account " Due to CB-PSBs" (20% retention).
4. The Securities Servicing Department shall respond to the above debit only upon receipt of the prize claim, payment of which in the form of cash, has been approved by the HSDC.
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