March 30, 2010


Dear Fellow Pawnbroker,

       We are URGENTLY INVITING all pawnbrokers to attend the CPPI Mid-Year Conference entitled Continuing Education on June 24 (Sunday) from 8:00 am - 5:00 pm at Quezon City Sports Club. The discussion would focus on: 


DOCUMENTARY STAMP TAX

Right now, efforts of the Chamber's Legal Committee is geared towards obtaining a positive result of the case since the Solicitor General asked for the re-opening of the case. We are in the process of strengthening our position paper that will be used in filing a motion for reconsideration in the Supreme Court. Further details of the case shall be discussed on June 24, like: 

       a. What is the impact of collecting and paying Documentary Stamp Tax? 

       b. What are the things to be considered while waiting for the final verdict of the Supreme Court? 

       c. How do we legally deal with the Bureau of Internal Revenue? 

       d. What are we suppose to do if the Supreme Court's decision is not favorable to the pawnbroking industry?


IMPOSITION OF RULES AND REGULATIONS by the BANGKO SENTRAL NG PILIPINAS

For the past several months, Bangko Sentral ng Pilipinas has been engaging CPPI to battery of dialogues. BSP deemed it necessary to change and strengthen certain rules and regulations and that they will enforce stickler implementation of these rules and regulations. In particular, we shall be discussing the following: 

       a. Capital requirement in opening and branching out. 

       b. Licensing (new player and/or branches) 

       c. Penalties (operation), and fees 

       d. Delisting of pawnshops 

       e. Raising the standard for pawnshop operation


BUSINESS SEMINAR

These two topics will be discussed under business seminar: 

       a. Internal Fraud Auditors of pawnshops with several pawnshops all over the country will be making on: 

              1. What is the extent of losses we incur when faced with fraud? 

              2. How do we avoid internal fraud? 3. How do we detect internal fraud in our pawnshops? 

       b. The legal side of Estate Planning 


BLUE OCEAN STRATEGY 


SALES LESSONS 


Again, do find time to attend this convention so that we can directly address your queries. You may have all the good reasons for missing this conference, but it will be more beneficial on your part to be there.

Thank You for being one with us in thrusting the pawnshop industry as one of the pillars of the Philippine economy.


Very truly yours,

Luis I. Ablaza, Jr.
President