Rcp|lbuc ot rhr Phllppin.iOficc of the PresidentHousins and Urban Development Coordinating CouncilHOUSING AI{D LAND USE R.EGULATORY BOARI)

TO

HLURB MEMORATTDUIT CIRCULAR 1{O. _W

Series of 2015 ( eereru rq , 2015)

FROlrl

SUB'ECT :

: ALL CONCERTIED

: THE COMMISSIOT{ERA]ID CHIEF EXECUTN'E OFFICER

AIII E 1I DATORY Al{D SUPPLE IIETIITAI GUIDELIII ES ()1{BOARD RESTOTUTTOT{ NO. 922, SERTES OF 2O1+ ORTHE .REVISED I}IPLEIIIENTII{G RULES A]{DREGUI.ATIO]IS TO GOVERN DEALERS, BROKERS Al{DSALESMET{ OF SUBDIVISIOT{ AND CONDOMI]IIUMPROJECTS U]{DER PRESIDET|TIAL DECREE NO. 957'OTHERWISE K]IOWN AS THE 'SI'BDTVISION AIIDCONDOI'|il{IUll BUYERS' PROTECTM DECREE' ANDALL OTHER PROTECTS REQUTRED BY LAW TO BEREGISTERED WITH THE HOUSITIG AND LAI{D USEREGUIATORY BOARD

Pursuant to Section 14 of the Housing and Land Use Regulatory Board(HLURB) Resolution No. 922, Series of 2014, or the 'Revised Implemenungiubs 6nd Regulagons to Govem Dealers, Brokers And Salesmen ofSubdivision and Condonrinium Projects Under Presidential Decree No' 957(P.D. No. 957) Otherwise Known as the 'suMivision and c.ondominiumiluyers' Protective Decree" And All Ottrer Proiects Required By_Law To BenelftereO With The Housing and Land Use Regulatory bard", thisnmenaatory and Supplemental Guideline is hereby issued.

Page 1 of 12

fut'^-

Rule IAMENDMENTS TO iIEMORANDUM

crRcut-AR lro. 02, SERIES OF 2015

Section 1. Exemfion of Single Propriebrchip From Registration.1.1 Section 4.L4 of Memorandum Orcular No. 02, Series of 2015 (M.C. No. 02

s. of 2015) which provides for the definition of "Person" and rcads:"Person" refers to a natural or juridical person. A juridicalperson refers to any business firm such as a corporation,partnership, cooperative or associaUon, or a singleproprietorchip."

is hereby amended to read:

"Person" refers to a nafural or juridical person. A juridicalperson refers to any business firm such as a corporaUon,parhership, cooperative or association."

1.2. Section 7 of M.C. No. 02, s. of 2015 which reads:

"Regisffation of Business Firms. Any business firm, whethera corporation, paftnership, cooperative or association, orsingle proprietorship, shall first register with the HLURB inaccordance with $e rules and guidelines herein providedbefore it can engage in the practice of real estate service withany project."

is hereby amended to read:

"Registration of Business Firms. Any business firm, whethera corporation, palttership, cooperative or association shallfirst register with the HLURB in accordance with the rules andguidelines herein provided before it can engage in thepractice of real estate servhe with any project."

Pursuant hereto, a single proprietorship is not anymore required to registerwith the HLURB, provided howerrer that the owner of such singleproprietorship who is engaged in the practice of real estate service withrespect to any project shall first register with the HLURB.

of 13W'Page 2

Section 2. Place of Registration.

2.1 Section 10 of M.C. No. 02, s. of 2015 which reads:

"Application for Registration. All dealers, licensed brokers andaccredited salespersons who shall engage in the practice of realestate service with any project shall register with the RegionalField ffice which has jurisdiction over the region where theapplicant rcsides or where his office is located by submitting thefollowing:

is hereby amended to read:

'Application fior RegistraUon. All dealers, licensed brokers andaccredited salespersons who shall engage in the practice of realestate seruice with any project shall register with any RegionalField Office of the HLURB by submitting the following:

2.2. Section 12 of M.C. No. 02, s. of 2015 which rcads:

'Application for Registration of Business Firms. All businessfirms, whether a corpoftrtion, partnership, cooperative orassociation, or single proprietorship, that shall engage in thepractice of real estate service with any project shall register withthe Regional Field ffice which has jurisdiction over the regionwhere the applicant's principal office is located by submittingthe bllowing:

is hereby amended to read:

"Application for Registration of Business Firms. All businessfirmq whether a corporation, paftnership, cooperaUve orassociation that shall engage in the practice of real estateseruice with any pncject shall register with any Regional FieldOfiftce by submitting the following:

Pursuant hereb, dealers, brokers, salespersons and business firms may applyfor registration with any RFO of the HLURB.

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Page 3 of 13

il'tqJ'-

Secdon 3. $rbmissbn of the PRC/PRBRES-Issued Officiat Reeipt orClaim Stub.

3.1 Section 10.2 M.C. No. 02 s. of 2015 enurnerates the requireddocumentary submissions for the registraUon of brokers. Section 10.2.3thereof which reads:

*Photocopies of the PRC-issued Certificate of Regisfration andrralid PRC-Issued Accreditation Card showing both front andback fae, with the originals thereof for comparison as faithfulreproduction, or any otspr sr.rfficient prmf of such liensure;"

is hereby amended to read:

"Photocopies of the PRC-issued Certificate of Registration andtfre valid PRC-Issued AarcditaUon C,ard sfrowing both front ardback fiaceg with the originals thereof for comparison as faithfulreprcduction, or in the absene thereof, any other proof ofregistraUon or licensure, or of having applied for registration orlicensure such as the PRC/PRBRES-issued fficial Receipt orPRgPR.BRE$issued claim stub;"

3.2 Section 10.3 of M.C. No. 02 s. of 2015 enumerates the requireddocumentary submissions for the accrcditation of salespersons. Section10.3.3 thereof which reads:

"Phorbcopies of the PRC-issued Certiftcirte of Registftttion andof valid PRC-Issued AcredibUon Card showing both front andback faces, with the or'rginals thereof for comparison as faithfulreproduction, or any other sufficient prcof of sudtaccrcditation;"

is hereby amended to read:

*Photocopies of the PRC-issued Cefificate of RegistraUon andthe valid PRC-Issued Accreditation Card showing both front andback fiaces, with the originals thereof for omparison as hithfulreproduction, or in the absene thereof, any other proof ofregistration or accreditation, or of having applied forregisffiation or accreditation such as Ure PRgPRBRE$issuedOfficial Receipt or PRC/PRBRESissued claim stub;'

Pursuant hereto, all Regional Freld ffices (RFO) shall henceforth acceptapplicaUon fior registration of brokers and salespersons upon submission of

any of the enumerated documenbry requirements under Sections 10.2.3 and10.3.3, as amended, along with the rest of the requirements respectivelyprovided under Sections 10. 2 and 10.3 of M.C. No. 02, s. of 2015.

Section 4. Submission of the Offrcial Reeipt Issued by ilre SurctyCompany. Sections 10.1.4, 10.2.4 and 10.3.4 which plovide for thesubmission of the bond or secudty for the registation of dealers, brokers andsalespersons and which similarly read:

"Photo@py of the bond or security, wiBr the original thereof forcomparison as faithful prcduction;"

is hereby amended to read:

"Phob@pies of the bond or security and of the official receiptissued by the surety company, with the originals thereof forcomparison as faithfu I reproducton; "

Section 5. Submission of t|le HLURB-Issud Offici'il ReoeiptEvidencing Payment of Registntion Fee. Sections 10.1.5, 10.2.5, and10.3.6 of M.C. No. 02, s. of 2015 which all simihrly rcad:

"Photocopies of the official receipt widencing payment of theregistration fee."

are all hereby similarly amended b read:"Photocopies of the HLURFissued official receipt evidencingpayment of the registration fee."

Section 6. Reuised ltter of Engngement or Employment. Disdosureof the projects with which the applying salesman is authorized to practice realestate senice shall not anymone be required. Rrrsuant hereto, Annex *D" ofMemorandum Circular No. 02, s. of 2015, or the pro-forma copy of the"salesman's Letter of Engagement/Employment'is hereby amended. A pro-forma copy of the "Rerrised Salegnan's Letter of Engagement / Employrent'is hereto attached as Anno< "A".

5of13

fr*'

Rule IISupplemental Guidelines

Section 7. Surety Bond. The surety bond shall be executed in favor of theHLURB as the OblBee therein. The dealer, broker, salesman, or business firmapplying for registration as the Principal, and the bonding company, as theSurcty, shall joindy and severally hold and bind themselves b indemniff ttreObligee in the event of hilure on the part of the principal to fully ard fraithfullycomply with the terms and conditbns of the registration. A pro.forma copy ofthe surety bond is hereb attached as Annex oB".

Secdon 8. Cash Bond. Cash bond shall be accepted as a security in lieu ofsurcty bond and the same shall rcmain effective and deemed reposted everysubsequent renewal of the registraUon unless otherwise revoked or forfeitedin acordance with Board Resolution No. 922, s. of 2014 and M.C. No. 02, s.of 2015, or requested to be wihdrawn by the registrant.

Any applicant posting a cash bond shall o(ecute and submit an underbkingunder oath, staUng that the cash bond posted is conditioned upon theapplicanfs faithful compliance with the provisions of Section 12 of PresidentialDecee No. 957 and that the same may be forfeited in accordance withSection 16 of M.C. No. 02, s. of 2015. Pruforma opies of the Deed ofUndertaking for dealers, brckers, salespersons and business firms are heretoattached as Annexes "C" and oD".

Section 9. Withdrawal of Cash Bond. Cash bond may only be withdrawnupon written request of the rcgisUant and posting of a new botd oracceptable security in substitutlcn of the cash bond or upon submission ofintent that the applicant shall no longer renew the registration and shall ceaseto engage in the practice of real estate service. In any case, withdnwal ofcash bond shall be subject to such applicable govemment requirements andapproved procedure for release of cash bond. A pro-fiorma copy of theRequest for Wthdrawal of Cash Bond is her$ attached as Annex "E".Section 1O. Rensyal of RegisuaUon. All registered dealers, brokers,salesrnen and business firms timely renewing their registraUon during themonth of November strall only be requircd to submit the fiollowing:

10.1 Application for Renewal of Regisffiation;tO.2 Photocopy of the apdkanfs latest HLURB-issued

ceftificate of registration or HLURB-issued officialreaeipt evidencirq payment of last registration fee;

10.3 The HLURB-issued identification card for updating;

10.4 "Photocopies of the bond or security and of tfre official receiptissued by the surety @mpany. wlth the originals thereof forcomparison as faithful reproduction, or the official reeipt forthe cash bond deposited and the undertaking under oath;-10.5 Phobcopy of fte HLURB-issued O,fftcial Receiptevidencing payment of tfe renewal of registration fee.

All applications for renewal of registration shall be filed with the RFO wherethe original registration was filed.

Section ll. Suhnission of Specimen Signatrres. For purposes ofissuance or replacernent of the identification card, all dealers, brokers andsafespersons shall, in addition b the tnro (2) coptes oJ 2 x 2 color photo,submit on a clean sheet of paper, three (3) spcimen signatures subscribed1.5 inches apart, with the full name of the dealer, broker or salespersonprinted once and in upper case at the botbm of the page.

Section 12. Unifiorm l{umbering of Certificab of Registration. Auniform numbering of the certificate of registration shall be observed by allRFOs issuing the same, fiollowing the fiormat herein provided:

RFO -

A'B,G or D -

MlrUYR -

PRll

where *RFO" stands fur the HLURB Regional Field ffice issuing the certificateof regisffation; "A" for mlespersons,'Bo for brokers, "C" for "business firm"such mrporaUon, partnership, association or ooperaWe, or *D" for dealets,whichever is applicable; "MM/YR" for the month and year of issuance of thecertificate of regisffation; and "PRN' for the permanent registration numberof the dealer, broker, salesperson or busirress firm. For o

Ssction 13. Srynilfty GlilEG. The pro*ions d thls GuHelines arehereby declarcd separable, and in the event that any provisbn trerein isdedared null ard \oid, Ete valldity of all odpr prwisions shall not be affectedUreteby.

Sccdon 1+ mctmty GNruce. This Guidines shall take fiectimrnediably.

Page t of 13

Ail]IEX A

REVISED SAI...ESPERSOII'S I"ETIER,oF EltGAGElrEt{T / EHPLOYHEI|T

PrrsualttoSedins U ild Ulof Fe$dential Deoetlo.9:tZas inplenrerfrd bU Bmtd Resolutin 1lo, 922, Seds of 2()f4

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nis b b ertift h6 been EFe@-[EEll@ and b efioftcd bteogEgp in the practie dteal estabserrice a a salesOetsn.

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Page 10 of 13W

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Page 11 of 13

AXXEX D

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fthq of ld 49, uilr l*ktr, fu bcane *anr *h

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AilltEX E

LETTER OF WTIEDRAWALOFCASEBOITD

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to|lrlE and lard llse neodatory SordRFO Addrcss

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Page 13 of 13