The document outlines the initial rules and regulations for a member's rice loan program by the L.I.P.A.D Multi-purpose Cooperative. It states that distribution of 25kg bags of rice will begin on January 30th at a price of PHP 1,050 per bag, representing a markup of PHP 115. It also provides the payment terms, which include a minimum down payment of PHP 50 and subsequent bi-monthly payments of PHP 500 on February 15th and 28th. Additionally, it limits members to a maximum of two bags per transaction and prohibits new loans if previous loans are unpaid, and will convert unpaid loans to multi-purpose loans after 5 days past the due date. Feedback on the first run of

1. 28th
BR002-2014
of December 2014
L.I.P.A.D MULTI-PURPOSE COOPERATIVE
Board Resolution No.002
Series of 2014
Initial Implementing Rules and Regulations Concerning Member’s Rice Loan
Following the Initial Board and Core Persons Meeting held last 28th of December; the following policies shall be applied
and set into implementation by the Lipad Multi-purpose Cooperative.
Whereas, the distribution of Rice (25 kg) shall commence on Jan. 30, 2014 pursuant to the previous Board Resolution.
Whereas, upon majority of the Board decision, the initial mark-up on the first batch of rice loans shall be ONE
HUNDRED FIFTEEN PESOS (PHP 115.00).
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Wholesale Price = PHP 935.00
Market Value = PHP 1,125.00
Coop Price = PHP 1,050.00
Profit per 25 kg sack = PHP 115.00
Whereas, a down payment of at least FIFTY PESOS (PHP 50) shall be collected on the General Assembly; The payment
shall be non-collection, at one bi-month (15/30) payment of PHP 500 at February 15 and the balance of PHP 500 at February 28,
2014. All information on payment terms and other information shall be relayed during delivery and distribution.
Whereas, majority of the Board decision agreed upon that there shall be a maximum limit of two (2) 25 kg per member
allocation per transaction and no new loan shall be approved until full payment of previous loan.
Whereas, non-payment of outstanding rice loan shall convert it into a multi-purpose loan FIVE (5) days upon due date,
and interests and terms of the said loan shall apply.
Whereas, all comments and feedbacks concerning the First Run of the Rice loan shall be collected and reviewed by the
Board on the General Assembly on January 31, 2014.
Approved this 19th day of January, 2014 at Pulo, City of Cabuyao, Laguna, Philippines.
Jay de jorge
Board Chairperson
Angelo James Furto
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Eldina Navea
Andres Aragon
Jeniffer Zaporteza
Jinalyn Paat
Rodan Belesario