QRCGC CIRCULAR NO. 106, S. OF 2000 QUEDANCOR PROGRAM FOR FOOD AND AGRICULTURAL RETAIL ENTERPRISES (FARE) July 01, 2000

Circular No. 089, Series of 1998 as amended by Circular No. 095 and 104, Series of 1999, is hereby further amended with respect to the following:

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6.         STATEMENT OF POLICIES

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6.6     Mode and Term of Payment

Loans belowP0.5Mshall be payable within a maximum of one (1) year in fixed monthly or quarterly amortization. Loans fromP0.5M to P3Mmay be allowed a maximum term ofthree (3) yearsand shall be paid in fixed monthly or quarterly amortization.

For SGM, the mode of payment shall be at the discretion of the bank.

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EFFECTIVITY

This Circular shall take effect immediately.

Adopted: 01 July 2000

(SGD.) GALO B. GARCHITORENA
President & CEO