Question & AnswerQ&A (GSIS Resolution NO. 58, S. 2010)
The purpose of GSIS Resolution No. 58, S. 2010 is to approve the Policy and Procedural Guidelines (PPG) on eCard Cash Advance III (eCAT).
Qualified applicants for the eCAT must be active members with at least five (5) years of creditable service and must not have any in-default loan accounts.
No, active members with in-default loan accounts are not qualified to avail of the eCAT.
No, outstanding penalties and surcharges pertaining to eCAD or eCAP shall not be waived under the eCAT program.
The redemption insurance premium for the eCAT is set at Php125.00.
In the event of default, the account shall be handled according to the existing policies and procedures governing in-default accounts.
The eCAT guidelines reference Board Resolution No. 140 dated 18 October 2006, which approved the terms and conditions of the eCard Plus Cash Advance Program (eCAP), an upgrade of the eCard Cash Advance (eCAD).
The eCAT applies the existing terms and conditions of eCAP and eCAD with specific amendments as stated in the resolution.
It builds on previous credit programs like eCAP and eCAD, amending some conditions while retaining others.
The full text is attached to the Agenda Folder for Board Meeting No. 9 dated 6 May 2010 as Item No. 4.11 and is an integral part of the resolution by reference.