Resolution on Qualification Fee for Tricycle Franchise Line Sale and Utilization of

Proceeds
WHEREAS, BOTDA Inc. is responsible for the management and oversight of the SM
FLAGPOLE tricycle franchise line;
WHEREAS, recognizing the need to streamline and regulate the process of selling
tricycle franchise lines for the orderly transition of ownership;
WHEREAS, it is essential to institute a qualification fee as a requisite for each
transaction to cover administrative and operational expenses related to the transfer of
tricycle franchise ownership;
WHEREAS, the imposition of a qualification fee will not only facilitate a structured
selling process but also deter frivolous transactions and ensure committed and serious
buyers;
WHEREAS, the proceeds from the qualification fee will serve as a valuable source to
strengthen the association's financial position and support initiatives for the collective
benefit of all operators;
NOW, THEREFORE, BE IT RESOLVED THAT:
1. Effective date (_______________) All operators of the BOTDA SM FLAGPOLE
tricycle franchise line who intend to sell their franchise rights shall be required to
pay a qualification fee amounting to Php 50,000.00 for each transaction.
2. The qualification fee shall be payable to BOTDA SM Flagpole, and the proceeds
shall be managed as part of the association's fund.
3. The funds generated from the qualification fees will be utilized to cover
administrative expenses related to the transfer process, documentation, and
other relevant operational costs.
4. Furthermore, a portion of the proceeds shall be allocated to the association's
reserve fund, earmarked to support future community initiatives, improvements,
and welfare projects that benefit all tricycle operators.
5. The operator wishing to sell their tricycle franchise line shall initiate the
transaction by notifying the Board in writing, accompanied by the payment of the
qualification fee.
6. Upon receipt of the qualification fee and the operator's formal notification of intent
to sell, the Board shall commence the necessary procedures for the evaluation
and approval of the buyer's qualifications.
7. The qualification process will involve assessing the financial capacity, legal
eligibility, and adherence to the relevant regulations of the prospective buyer.
 8. The Board reserves the right to decline the sale transaction if the prospective
buyer does not meet the qualification criteria.
9. In case of a successful qualification and approval, the operator and the buyer
shall be required to sign the necessary agreements and comply with all relevant
rules and regulations to effect the transfer of the tricycle franchise line.
FURTHER RESOLVED, that this resolution shall be communicated promptly to all
operators of the BOTDA SM FLAGPOLE tricycle franchise line through official channels.
Any operator intending to sell their tricycle franchise line shall be informed of the
qualification fee requirement and the procedures for initiating the transaction.
This resolution is adopted to promote fairness, transparency, and sustainable
development within the association. The utilization of the qualification fee proceeds as
part of the association's fund aims to enhance the welfare of all tricycle operators and
contribute to the betterment of the community.
Passed and adopted by the Board of BOTDA SM FLAG POLE effective on this
______day of __________.

Submitted By; Respectfully yours

CRIS C. DELIM ROMEO M. DELA CRUZ

BOTDA-Secretary BOTDA-President

NOEL A. LISING
BOTDA Vice President

BOARD OF TRUSTEE

REYNALDO C. PASTORIL ROSAURO R. ESPINO

GLENN V. SANCHEZ SAMMY R. JAMORAWAN

ROMEO B. SISON CARLOS LAZAMANA

ROLAND DG. DE GUZMAN