FOR the convenience of the public and its clients, the Securities and Exchange Commission (SEC) - Bacolod Extension Office has announced that it will now accept payments for annual fees of lending and financing companies.
SEC-Bacolod, in a statement, said annual fees for lending and financing companies shall be paid 45 days before the anniversary date of the certificate of authority and for as long as its license to operate is in effect.
Also paid together with annual fee are the legal research and handling fee, it added.
Annual fee is computed at 1/8 of one percent of the required paid up capital while the legal research fee is computed at one percent of the annual fee.
The handling fee, on the other hand, depends on the extension office where it shall be paid.
For payment, lending or financing companies are advised to include covering letter indicating the applicable year of payment.
Non-payment of the annual fees will cause the firm to be penalized for non-compliance with the law.
Previously, annual fees, legal research fee and handling fee were paid in SEC-Iloilo Extension office.
For questions and clarifications, clients and the public are encouraged to call the office at 445-5714/445-5713 or email at secbacolod2018@gmail.com or secbcdextension@gmail.com. (PR)