Manila 1099 CUSTOMS MEMORANDUM ORDER NOL Bh 2e SUBIEC! BUREAU OF CUSTOMS NOV 4 zuu4 CLARIFYING THE APPLICABILITY OF CMO-22-2003 business processes, te fyllawing, clarification i concerned: visions of COO 22-2003: wereial banking institutions tml issue St AN LINE WITH the daust of the Bureau ly sueaniline ils 0, heteby issued for the guidance of all lion as well us Quarterly rencwal of Authority t Transact business as Surety (ATBAS) shall be requied only (© Lusurance Compani cuthorized to underwrite bonds for the government and qualified under Ue ud-by Letters of (LCs) or similar forms of guarantees are not evvered by U accreditation requirement of CMO 3. The Gove covered by the provision pertinent accreditat cancellation ment Service Insurai 70:30). Furg nce aud compliance. /\ 22-2003. In its stead, a yearly accreditation is mandated. ‘The supporting documents reyuined in (ie processing, off application for accreditation shalt be filed with the District Collector tat bus geographical coverage of the area of its busiwess operation, and shall be submitted during the beginning of the year or uring the frst month following the bank’s opetalion; and 5) a of CMO 22-2003 including, eyuirewents and Ue compliaace of tolerable bonds deg KORGE M. JEREOS: (Commissioner 's Ticensed or ‘continue to be mong others, the