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David_LivinginTalisay

LTO Registration of New Vehicles

3 posts in this topic

Imported Motor Vehicle Registration Requirements

default-car.jpg

The most common service that a motorist is looking for is the new registration of one's new and shiny car.

 

Imported Motor Vehicle Registration Requirements

 

Here are the requirements for imported motor vehicles

Edited by David_LivinginTalisay

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alright david a service everyone can use... good luck on this....

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alright david a service everyone can use... good luck on this....

 

Like I live in Bulacan, and look like this - yeh right?

 

 

Need Help with LTO Bulacan?

rommel-delos-santos.jpg

 

Check things out Robert51, instead of blurting out your' stupid suspicions', and once AGAIN - read my 'Disclaimer'!

 

I was doing a Google Search to find out more on this 3 Year Registration and LTO memorandum circular 575-2005 and that website listing Registration Requirements came up. Did not see any reference to 3 Year Registration, but thought it was clear concise summary of what one needed for such new vehicle registration. I used it on my BLOG and basically reproduced my BLog Post, here!

So funny, that you seemed to think I was behind that website. by the sounds of things?

I also came across this Document relating to CTPL Insurance relating to the 3 Year Registration:-

(@ Robert51- No fees charged for reading my Message posts, or downloading the attachments that I took the time and trouble to upload.

Before you post more stupid remarks, and seemingly refuse to read and believe my Disclaimer, I am not working for any Insurance Company, selling 3 Year CTPL cover either!)

This is the html version of the file:-http://www.insurance.gov.ph/htm/..%5C_@dmin%5Cupload%5Creports%5Ccircular10.pdf.

Republic of the Philippines

Department of Finance

INSURANCE COMMISSION

1071 United Nations Avenue

Manila

CIRCULAR LETTER

To:
All Non-Life Insurance Companies Doing Business in the Philippines

Subject:
Implementation of the 3-Year Compulsory Third Party Liability CTPL) Insurance

 

I. Administrative Order No. 010-2005 of the Department of Transportation and
Communications dated January 3, 2005 (copy attached) mandates that a 3-Year
CTPL policy shall be taken in connection with the initial registration of all brand new
motor vehicles in place of the traditional 1-Year CTPL previously required.

II. Consistent with the strict statutory requirements of the Insurance Code, as amended,

"SEC. 376. The Bureau of Land Transportation (now Land Transportation
Office or LTO) shall not allow the registration or renewal of registration of any
motor vehicle without first requiring from the land transportation operator or

motor vehicle owner concerned the presentation and filing of a substantiating
documentation in a form approved by the Commissioner evidencing that the
policy of insurance or guaranty in cash or surety bond required by this
chapter is in effect."

"SEC. 226. No policy, certificate or contract of insurance shall be issued or delivered within the Philippines unless in a form previously approved by the

Commissioner, and no application form shall be used with and no rider, clause, warranty, or endorsement shall be attached to, printed or stamped upon such policy, certificate or contract unless the form of such application, rider, clause, warranty or endorsement has been approved by the Commissioner."

 

"SEC. 375. The Commissioner shall furnish the Bureau of Land Transportation (now LTO) with a list of insurance companies authorized to issue the policy of insurance or surety bond required by this chapter." and pursuant to the reforms being implemented by the Insurance Commission in the Philippine insurance sector:

A. All non-life insurance companies are hereby directed to commence the issuance of 3-Year CTPL policies not earlier than May 2, 2005;

B. All forms for 3-Year CTPL coverage which shall be separate and distinct from comprehensive motor vehicle policies must be submitted to the Insurance Commission and duly approved by the Insurance Commissioner;

C. Insurance companies duly accredited by the Insurance Commission shall be pooled under the auspices of the major industry association, Philippine Insurers & Reinsurers Association, to provide the insurance coverage for the 3-Year CTPL.

III. The Insurance Commission shall implement, and in cooperation with the Philippine Insurers and Reinsurers Association (PIRA), shall provide for a system of mandatory insurance coverage required for vehicle registration where the public obtains the appropriate insurance coverage and at the same time, known irregularities (i.e proliferation of fraudulent policies, unpaid claims, etc.) associated with the issuance of the CTPL coverage are totally eliminated or at the very least, minimized.

IV. This is to repair the serious damage in the confidence of the Filipino public in the integrity of CTPL coverage obtained for purposes of registering motor vehicles.

V. This Circular supersedes any and all circulars on the same subject.

 

(SGD.) BENJAMIN S. SANTOS

Insurance Commissioner

 

cc The Honorable Cesar V. Purisima, Secretary of Department of Finance

The Honorable Leandro R. Mendoza, Secretary of Department of Transportation and Communication

The Honorable Anneli R. Lontoc, Assistant Secretary of Land Transportation Office
Edited by David_LivinginTalisay

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