For purposes of prescribing the Performance Bond for Cargo Handling Operators (CHOs) with annual gross revenues of more than P300 Million, Annex œB  of PPA Administrative Order No. 13-96 dated 12 September 1996 entitled Performance Standards and Rating System for Cargo Handling Contractors (PSRS) is hereby amended to include therein the required performance bond to be imposed on said CHOs, which shall be as follows:

Cargo Handling Gross Revenue (PHP)

Amount of Performance Bond (PHP)

300,000,001 - 325,000,000

6,500,000

325,000,001 - 350,000,000

7,000,000

350,000,001 - 375,000,000

7,500,000

375,000,001 - 400,000,000

8,000,000

400,000,001 - 425,000,000

8,500,000

425,000,001 - 450,000,000

9,000,000

450,000,001 - 475,000,000

9,500,000

475,000,001 - 500,000,000

10,000,000

500,000,001 - 525,000,000

10,500,000

525,000,001 - 550,000,000

11,000,000

550,000,001 - 575,000,000

11,500,000

575,000,001 - 600,000,000

12,000,000

600,000,001 - 625,000,000

12,500,000

625,000,001 - 650,000,000

13,000,000

650,000,001 - 675,000,000

13,500,000

675,000,001 - 700,000,000

14,000,000

700,000,001 - 725,000,000

14,500,000

725,000,001 - 750,000,000

15,000,000

750,000,001 - 775,000,000

15,500,000

775,000,001 - 800,000,000

16,000,000

For a cargo handling contractor/operator with annual gross revenues above PHP800 Million, the Performance Bond shall be a uniform rate of PHP20 Million to be secured from GSIS and without need for PPA Board approval.

This Order shall take effect fifteen (15) days after publication in a newspaper of general circulation.

For guidance and strict compliance.

Adopted: 26 Oct. 2007