In the interest of the service and in compliance with the Board directive, limit of authority for approval under the Conduit Loan Window is hereby amended as follows:

Loan Amount Recommending Approving

Loan Amount

Recommending

Approving

      P300,000 & below ROU Supervisor RD, DOLE P300,001 - 1 M PM, IRPO Admin., OWWA Above 1 M Admin., OWWA Board of Trustees, OWWA

Likewise, based on the assessment done by the program implementors, the following Sections of the General Policies under MOI 138 are hereby amended/added:

C. The loan fund shall bear an interest rate of 3% and shall be retailed according to OWWA rates.  No other charges and fees shall be imputed on the OCW clients except penalties on delayed amortization.

J. In cases when the program participant has failed to comply with the terms and conditions for loan releases and the general policies and guidelines governing the OWWA funds, the OWWA reserves the right to suspend further loan releases to the program participant as well as the right to take over the management of the program.

P. The ACP shall ensure that program beneficiaries have no outstanding loans from other loan windows of the IRPO.

Under the Non-collateral Loan Window of MOI 99, a new ceiling shall be set at P10,000 and P100,000 for individual and group loans, respectively.

The Couple's Loan Application in MOI 139 shall refer to married couples who are both OCWs.  The only document to be submitted aside from the regular individual borrower's requirements is the proof of OWWA contribution of the spouse.

For strict compliance.

Adopted: 20 Aug. 1992