The following guidelines are to be observed in the submission of IOS Form 4 under the required reporting forms:

1.  IOS Form 4 shall be submitted monthly to the Management of External Debt Department (MEDD) not later than ten (10) banking days after the end of the reference month in hard copy and in virus-free diskette (5.25 or 3.5 DS DD) in the prescribed reporting format and should contain complete and accurate data as required.

2.  The report shall consolidate status of and transactions under all loans granted by FCDUs, head office as well as branches.

3.  Bank representatives shall submit the FCDU report to the staff/group in MEDD authorized to receive the reports during regular banking hours (8:00 A.M. to 4:30 P.M.), and shall ensure that receipt of the report is duly acknowledged by authorized personnel. Reports shall be acknowledged/received if:

1. The diskette submitted was scanned and found to be virus-free;
   
   
2. The hard copy submitted contains correct and complete data.

To ensure virus and error-free diskette, a back-up copy should be available in case the original diskette is found to be defective.

4.  Defective diskettes and/or incomplete and inaccurate reports shall be returned to the banks concerned through the bank representative, for re-submission at the earliest possible time subject, however, to compliance with the deadline specified.

5.  Diskettes shall be returned to the banks as soon as these are copied in MEDD's files.

6.  Penalties shall be imposed for late or incomplete submission of reports, pursuant to Section 91 of Circular 1389 dated April 13, 1993, as amended.

7.  If upon processing by MEDD staff, reports earlier received were found to have considerable discrepancies that would require submission of amended reports, the pertinent provisions of the above circular on fines and penalties shall apply reckoned from the day following the concerned bank's receipt of the advice on discrepancies up to the time a corrected report (virus-free diskette and hard copy) is submitted and duly received by authorized MEDD personnel.

Adopted: 24 Feb. 1994