He said it was mandatory for the interested parties to have required manufacturing and testing facilities, qualified manpower, relevant national or international accreditation for producing LPG equipment, provide details of LPG equipment supplied or installed, if any, and financial competence to execute LPG works not less than Rs10 million supported by bank certificate
. Besides, submitting affidavit that it had not been black listed locally or internationally.
Arta also recommended to remove some of the additional requirements such as a bank certificate
ARTA also recommended the removal of Bank Certificate
of Conformity as a requirement, devising of an appropriate regulatory framework for TNVS, conduct of a regulatory impact assessment to improve regulatory frameworks, revision of some other requirements, and to provide basis that would justify the cap of 65,000 TNVS units in Metro Manila.
ARTA would also move for the LTFRB to remove the requirement for TNVS to submit the bank certificate
of conformity and give another mode of compliance because the former requirement is difficult for TNVS to comply.
This necessitated opening a pre-establishment bank account for the prospective company which could take weeks, depositing the capital into the account, and issuing a bank certificate
to that effect.
This means a bank certificate
that you have an account with sufficient funds!
- bank certificate
on financial position of the bidder in the last one year
The report clarified that the start of the business was facilitated by abolishing the requirement of obtaining a bank certificate
, establishing a one-stop system to complete the procedures and reduce the time required to start the business to 11 days now from 16 days earlier.
Also, the bank mentioned that its 12-month bank certificate
of deposit and 36-month bank certificate
of deposit carry no fees and no maximum balance, only accounts with a minimum deposit of USD2,500.
Surveys are already beginning to show that baby boomers would likely accept the paltry return of a bank certificate
of deposit versus tying up their dollars in seven- to 12-year index annuities.
Societies ordered to register are required to submit a series of official documents in English and Arabic for approval, including minutes from a founders' meeting, personal details of all members, articles of association in ministry format, the society's proof of address and a bank certificate