Payments Affected by The Extended ECQ

by: Jeremy Pascua As a result of the extended ECQ due to Covid 19 crisis and based on the Memo released by HLURB, below is DMCI Homes' reply on the scenarios mentioned in the Memo dated April 24, 2020.

Account is in forecast stage and reservation is made prior or during ECQ - upon closing of account after ECQ is lifted, will the client be required to pay in lump sum all payment due?

Answer: All forecast accounts with reservation prior or during ECQ must be closed on or before June 15, 2020. All payment due can be settled in lump sum or in staggered payments of not more than 6 months. First installment payment shall be 30 days after lifting of ECQ.

Account is closed with PDCs - After holding the March, April (and possibly including May) checks, will the clients be required to replace checks? WIll the amounts due be divided by up to 6 months?

Answer: Staggered payment computation is on a per request basis. Clients can settle these amounts through issuance of PDCs, remittance / bills payment or ADA. Amount due will be divided based on customer request but should not be more than 6 months.

Account is closed with ADA - same with no.2, will the client be allowed to pay the amount in up to 6 months and how will the client go about the payment requirements?

Answer: Regardless of mode of payment, all clients with payments due within ECQ can settle in staggered payments of up to 6 months. We will notify our clients by sending a letter on the procedure for payment adjustment. Request will be through Customer Care for initial validation and will then be forwarded to Credit & Collection for computation and coordination with the clients. Computation sheet acknowledged and accepted by the client will be forwarded to Treasury as reference for debiting.

With the new ECQ extension until May 15, will clients with due dates on May 22 or May 30 be allowed to request hold payment?

Answer: Yes but subject to the usual holding fee and standard penalty as stated in the Contract to Sell, considering that these due dates are already beyond ECQ period.

How will the payment adjustments apply for remittances/i-remit? There are some remittance centers that are still in system shutdown.

Answer: Clients can settle through online payment to BDO, EWB, and Unionbank. Client can also enroll to Robinsons Virtual Account to remit and transfer payments from anywhere in the world. BPI online is currently encountering issues, but they promised to resolve it as soon as possible. We will deal with this type of concern on a case to case basis.

What adjustments can we do for clients who requested for holding of checks (even within grace period to request) but checks were still deposited?

Answer: Based on our monitoring, there are 21 accounts with valid requests but checks were deposited by the bank. Treasury Department evaluated these accounts and will coordinate the action items with Customer Care. For cleared checks, buyer may opt to request for refund. For DAIF or insufficient fund, we will refund the corresponding bank charge. Please note that refund of bank charges will only apply to those with valid requests, but checks were still deposited.

DMCI Homes is in close coordination with Customer Care and rest assured that proper adjustments have been made in the processes to accommodate concerns from clients arising from ECQ

Thank you so much!

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