Rules and Regulations Governing
the Annual Election of Directors

Warm greetings!

This is to inform all pawnbrokers about our National Convention and Election on December 2, 2010 (Sunday) from 8:00 am to 5:00 pm at Quezon City Sports Club, E Rodriguez Sr. Ave., Quezon City. 

We are urging you to attend this meeting so we could inform you about the following:

1. Recent developments about the Documentary Stamp Tax issue.
   
   As you maybe aware, the Bureau of Internal Revenue has started collecting the Documentary Stamp Tax fee and the CPPI has been giving advises to its member-pawnbrokers on this matter. 
   
   But are you also aware that:
   
   
   1. There are conflicting rulings on how to implement/collect the DST being imposed by some if not most RDOs?
      
   2. A significant number of pawnshops are contemplating of closing shop because of the DST? 
      
   3. There are certain areas in the Philippines that the BIR RDOs do not have an idea about the Documentary Stamp Tax issue?
      
      
      
2. Details of the imposition of Revised Rules and Regulations on pawnshop by the Bangko Sentral ng Pilipinas and its effects
   
   In the last Mid-Year Conference, Bangko Sentral ng Pilipinas deferred the presentation of the Revised Pawnshop Rules and Regulations to further fine-tune the areas that they consider necessary to change and strengthen.  In line to this, they shall be presenting to us details on how they would be enforcing the rules and regulations like:       
   
   
   1. Imposition of penalty fees
   2. Pawnshop closure
   3. Issuance/Non-issuance of License (new player and/or branches)
   4. Standardizing the pawnshop operation
      
      
      
3. Programs that will improve the pawnshop industry that we would like to pursue in the Year 2008

We are also incorporating short business seminars in this event, which we believe would give us significant insights on how to create a vibrant pawnshop business.  Other details of this conference are attached with this letter.

Please find time to attend this convention so we can have a comprehensive discussion with you about the matters that affect the pawnshop industry.

We may be faced with a lot of challenges.  We maybe directly competing with each other, but there are times that we are called to band together to keep the pawnshop industry alive.

Thank you and we look forward to your unrelenting support.