Re: Sales /admin policies not being observed; for compliance

CORPORATE BOOKS AND RECORDS

SEC. 73. Books to be Kept; Stock Transfer Agent. -Every corporation shall keep and carefully preserve at its principal office all information relating to the corporation including, but not limited to:

(a) The articles of incorporation and bylaws of the corporation and all their amendments;

(b) The current ownership structure and voting rights of the corporation, including lists of stockholders or members, group structures, intra-group relations, ownership data, and beneficial ownership;

(c) The names and addresses of all the members of the board of directors or trustees and the executive officers;

(d) A record of all business transactions;

On Fri, Dec 19, 2025 at 1:15 PM Jorge Saguinsin <jorge@holygardens.ph> wrote:

To   All

Subject:   Sales /admin policies not being observed;  for compliance

Background: Reality

    1.  There are offices that show the following:

            1.  No office sales

            2.  Mas marami agent sales although in reality there are many walk ins

            3.   Biglang nagkaka agents

            4.  We had quarrelled with a jv checker regarding this anomaly

   2.  Records:

        

           1.  There are ledgers with alterations that are not even initialled

           2.  Plenty  of snowpakes

           3.  Updated and correct

   What:

Sales policies

1.  Recognition of agents:

     1.  They must have sead;

     2.  They are with the buyers during the tripping;

     3.  They signed on the ppa

     4.  PPA are given on the day the tripping and the dp were made.

     5.  PPA and other docs, abstracts are not to be brought home to be finished for

          transparency and in compliance with SEC

     6.  Appointment slip duly signed by agent and buyer

     Thus it cant be:

      1.  Walk in later on may agent

      2.  Phone in agent na.

      3.  Later when ppa is submitted  is not allowed.  

      4.   No agent for BC and IF

     PD 957 Sec 25 requires that contracts are made the moment they make initial payment

Section 25. Issuance of Title. The owner or developer shall deliver the title of the lot or unit to the buyer upon full payment of the lot or unit. No fee, except those required for the registration of the deed of sale in the Registry of Deeds, shall be collected for the issuance of such title. In the event a mortgage over the lot or unit is outstanding at the time of the issuance of the title to the buyer, the owner or developer shall redeem the mortgage or the corresponding portion thereof within six months from such issuance in order that the title over any fully paid lot or unit may be secured and delivered to the buyer in accordance herewith.

(Hindi after six months iisue, whoever invented such a rule

     4.  Situs of record keeping and records  (hindi puwedeng mag uwi)

Under the Revised Corporation Code of the Philippines (Republic Act No. 11232), every corporation is mandated to keep and preserve all corporate books and records at its principal office within the Philippines. 

Situs of Record Keeping

The specific location (situs) for keeping corporate records is the principal office address of the corporation as stated in its Articles of Incorporation. This ensures that all essential information is accessible at a single, consistent, and officially registered location. 

Required Records

Section 73 of the Revised Corporation Code mandates that corporations maintain various records at their principal office. These include foundational documents like the articles of incorporation and bylaws, records detailing the ownership and voting structure, lists of directors, trustees, and officers, minutes of meetings, records of stock ownership, and financial statements. 

Hindi puwedeng mag uwi ng trabaho sa bahay.  BAWAL

Retention Period

The Bureau of Internal Revenue (BIR) requires companies to keep books of accounts and related records for ten (10) years for tax purposes. Hard copies are necessary for the initial five years, after which electronic copies are acceptable. 

Right of Inspection

Directors, trustees, stockholders, and members have the right to inspect these records during reasonable business hours for legitimate purposes and in good faith. 

2.  CCD

These are the CCD for Sales Recognition of agents

1.  CCD:   

2.22 Altering ORs, ledgers, documents without approval of superior and  customers;       Class D.

2.23  Passing office sales to relatives or other 3rd party agents  -  .  Thus recruiting          Class D

 wives or husbands, sisters,  or someone close parents as is prohibited 

and is an offense too when discovered) or allowing such to happen with agressivesales agents and directors