[ SRA SUGAR ORDER NO. 7, s. 1993-94, October 28, 1993 ]

POLICY AUTHORIZING ADVANCE SWAPPING OF CY 1993-94 œC  SUGAR FOR SHIPMENT AS œD  SUGAR TO THE WORLD MARKET



WHEREAS, 500,000 metric tons of œD  World Market sugar has been authorized for exportation to the world market, per SRA Sugar Order No. 5, October 21, 1993; 

WHEREAS, the price of œD  sugar in the world market has improved lately to the advantage of sugar producers and to the national interest;

WHEREAS, considering the volume of said œD  sugar and for the purpose of decongesting sugar mill warehouses, there is an urgent need to facilitate early and regular shipments;

NOW, THEREFORE, under and by virtue of the powers vested in the Sugar Regulatory Administration (SRA), it is hereby ordered that:

SECTION 1.       A policy is hereby adopted authorizing the advance-swapping of CY 1993-94 œC  Reserve sugar for shipment as CY 1993-94 œD  World Market sugar, subject to the conditions and procedures as hereinafter provided.

SECTION 2.       (a) Holders of CY 1993-94 œC  quedan-permits who desire to avail of the authority to advance-swap under this Sugar Order shall submit to the SRA their applications, to include (i) Application for Shipment, (ii) œC  quedan-permits and Listings thereof arranged in chronological order, (iii) Affidavit stating ownership of sugar covered by said quedan-permits, and (iv) sworn undertaking of repayment executed by exporter-applicant, per attachment herein. Said œC  quedan-permits shall be surcharged for withdrawal as CY 1993-94 œD  sugar for shipment to the world market.

(b)       To ensure early and regular shipments of œD  sugar as enunciated in SRA Sugar Order No. 5, a storage penalty of FIFTY CENTAVOS (0.50) per LKg per day shall be imposed and collected from sugar exporters if their œC  quedan-permits surcharged as œD  are not surrendered for withdrawal of the sugar covered thereby for shipment within a 30-day period reckoned from the date of surcharging by SRA.

(c)        The collection of penalties herein shall accrue to SRA as a special fund for Research & Development projects. The mill companies shall make the collection which shall be payable by check in the name of SRA and shall be handed to the Mill District Regulation Officers assigned in their respective mill districts who shall remit same to SRA at the earliest time possible.

SECTION 3.       The repayment of the above-mentioned advance-swapping shall be made on or before September 15, 1994 and effected through the submission to the SRA of CY 1993-94 œD  quedan-permits for an equal quantity approved for advance-swapping and shall be surcharged as CY 1993-94 œC  sugar.

SECTION 4.       This Sugar Order shall take effect immediately.

SECTION 5.       Provisions of sugar orders, circular letters, rules and regulations contrary to or inconsistent herewith are hereby revoked, amended or modified accordingly.

Adopted: 28 Oct. 1993

BY AUTHORITY OF THE SUGAR BOARD:
(Sgd.) RODOLFO A. GAMBOA
Administrator


Application For Shipment of œD  Sugar

Date: ______________

SUGAR REGULATORY ADMINISTRATION
Philippine Sugar Center Bldg.
North Avenue, Diliman
Quezon City 1101

S i r s :

WE/I HEREBY APPLY for shipment of centrifugal raw/refined sugar to the World Market, viz:

Quantity applied for -

In Metric Tons    :

In LKg                 :

In this connection, we/I hereby submit herewith the œD  Quedan-Permits covering the sugar thereof for verification together with the Affidavit as to our/my ownership of said sugar.

Very truly yours,

__________________
(Sugar Trader)

Application for Advance-Swapping of œC 
Sugar for Shipment as œD  Sugar

Date: _______________

SUGAR REGULATORY ADMINISTRATION
Philippine Sugar Center Bldg.
North Avenue, Diliman
Quezon City 1101

S i r s :

WE/I HEREBY APPLY for advance-swapping of œC  Reserve sugar as œD  World Market sugar for shipment to the world market under SRA Sugar Order No. 7, dated October 21, 1993, viz:

Quantity applied for

In Metric Tons    :

In LKg                 :

IN THIS CONNECTION, we/I hereby submit herewith the CY 1993-94 œC  quedan-permits covering the sugar subject of this Application for verification, together with the Listings of said quedan-permits as well as the Affidavit of ownership thereof.

Very truly yours,

________________

(Exporter-Applicant)

Certification of Undertaking

I,_________________, representing _____________, hereby undertake to replace with an equal quantity of CY 1993-94 œD  World Market sugar the œC  Reserve sugar Advanced-swapped for withdrawal as œD  as authorized under Certificate of Advance-Swapping, No. ___________, dated _________, per SRA sugar Order No. 7, dated October 21, 1993.

I am aware of the provisions of said Sugar Order No. 7, especially on the penalties imposed thereon and I hereby abide thereby.

Repayment on this undertaking shall be made on or before September 15, 1994.

IN WITNESS WHEREOF, I hereby sign this CERTIFICATE this _____ day of ________________, at _______________.

________________________
(Signature over Printed Name)

SUBSCRIBED AND SWORN to me this _____ day of ___________, in ____________.

____________________
Notary Public

Affidavit

I, _____________, of legal age, Filipino, with business at ___________________________________ after having been duly sworn to in accordance with law, do hereby depose and say:

1.       That I am the ____________ of ___________________, an entity/corporation duly organized and existing under Philippine laws, with business address above-stated;

2.       That ______________________________ is scheduled to ship/export ____________ metric tons, or ________________ LKg, of centrifugal raw/refined sugar to _______________.

3.       That said raw/refined sugar is covered by œ œ sugar quedan-permits indicated in the attached Listings;

4.       That __________________ is the owner of said œ œ sugar and the quedan-permits covering the same;

5.       That I am executing this Affidavit to swear to and confirm the truth of all the foregoing facts and circumstances and for all legal intents and purposes.

IN WITNESS WHEREOF, I have hereunto set my hand this _____ day of ______________, at ____________.

__________________
Affiant

SUBSCRIBED AND SWORN to before me this _____ day of __________; affiant exhibited to me his Residence Certificate No. __________ issued on ___________, at ____________.