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We are happy to announce that pursuant to the recommendation of the PCSO,

the President lifted the suspension of operations of STL Authorized Agent


Corporations (AACs) that are compliant with the conditions of their STL agency
agreement and has been remitting its Guaranteed Minimum Monthly Retail
Receipt (GMMRR), provided the following conditions are met:

1. The AACs shall deposit with the PCSO a cash bond equivalent to 3
months of the PCSO’s share in the GMMRR, on top of their existing cash
bond;

Cash Bond is 15 Million or 1 month of the approved PMRR


whichever is higher. Source: 2016 revised IRR for the STL Operations of
the PCSO;

PMRR- Presumptive Monthly Retail Receipt (PMRR)- amount


determined by PCSO as the presumed minimum monthly sales of an AAC
which shall subject to periodic review. Source: 2016 revised IRR for the
STL Operations of the PCSO;

2. Upon failure to timely and fully remit their GMMRR during the duration of
the operation, the AAC’s cash bond, equivalent to 3 months of the PCSO’s
share in the GMMRR, shall be automatically forfeited in favor of PCSO,
without prejudice to the other remedies that my be exercise by the
government;

3. Each AAC shall execute a written undertaking that if shall comply with its
obligations under the STL Agency Agreement and will not institute any
claims, monetary or otherwise against the government and/or apply for a
temporary restraining order or injunction from any court to prevent the
government of exercising its rights and prerogatives; and (the AACs are
required to waive their right to obtain a Temporary Restraining Order
(TRO) against the government)

4. The STL Agency Agreement shall automatically be terminated upon


violation of the conditions of their franchise and/or any of the above
conditions without prejudice to the other remedies that maybe exercise by
the government.

The foregoing conditions shall be applied to other AACs that maybe allowed to
resume operations. It is understood that all STL AACs that will be allowed to
resume operations will comply with the signed and sign new STL Agency
Agreements in accordance with the terms and conditions of the new STL
implementing rules and regulations upon the issuance thereof.

Magandang gabi po sa ating lahat, sa lahat po ng AACs, our office is open to


accommodate po if you have other inquiries or you want to settle your
obligations, our Office is open anytime po tomorrow until next week. Marami
pong salamat!