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Questions and Answers
What is the maximum amount that a District Supervisor can approve for a promissory note?
What is the maximum amount that a District Supervisor can approve for a promissory note?
- PhP 50,000
- PhP 30,000
- PhP 10,000 (correct)
- PhP 100,000
A General Manager can approve promissory applications for any amount without a timeframe.
A General Manager can approve promissory applications for any amount without a timeframe.
False (B)
What percentage of the total balance must be settled before applying for a promissory note?
What percentage of the total balance must be settled before applying for a promissory note?
30%
All active accounts with outstanding balances must settle a minimum of ______ before applying for a promissory note.
All active accounts with outstanding balances must settle a minimum of ______ before applying for a promissory note.
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Match the approving authority with the corresponding payment duration:
Match the approving authority with the corresponding payment duration:
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Study Notes
Promissory Note Approvals for MCOs
- District Supervisor approves promissory notes up to PhP 10,000 with payment durations up to 3 months.
- Department Manager approves promissory notes between PhP 10,000 and PhP 30,000 with payment durations between 3 and 5 months.
- General Manager approves promissory notes exceeding PhP 30,000 with payment durations exceeding 5 months.
Promissory Note Applications for Residential Consumers
- All applications with pending approval are removed from the disconnection list unless disapproved.
- Downpayment is required upon approval.
- Active accounts with outstanding balances can apply for promissory notes if at least 30% of the total balance, including surcharges and fees, is settled.
- The General Manager can approve applications in extraordinary cases, regardless of the outstanding balance, within a year.
Promissory Note Applications for Big Load Accounts (LGU, Schools, Commercial, & Industrial)
- All applications with pending approval are removed from the disconnection list unless disapproved.
- Downpayment is required upon approval.
- Active accounts with outstanding balances can apply for promissory notes if at least 30% of the total balance, including surcharges and fees, is settled.
- The General Manager can approve applications in extraordinary cases, regardless of the outstanding balance, within a year.
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