In its desire to continue improving its services to its members and clients all over the country. CLIMBS has forged an agreement with MICHAEL J. LHUILLIER FINANCIAL SERVICES INC., (MLFSI).
Dubbed as “BILLS PAYMENT PARTNER” the two entities signed a Memorandum of Agreement authorizing CLIMBS’ customers to pay/remit their money through any of the branches of MLFSI nationwide under the Bills Payment Service/ Collections Service more popularly known as Kwarta Padala system.
Under the agreement, it is hoped that members of CLIMBS or its clients will now be able to remit their premiums or payments more conveniently. MLFSI has 1,800 branches nationwide.
In exchange for such service, CLIMBS will pay Php 30 per transaction for a maximum principal amount limit of Php 50,000. The same fee applies in excess of Php 50,000.
Under the contract, MLFSI “shall deposit all funds received” for CLIMBS (less the service charge) “in the latters’ designated bank account not later than two(2) banking days from the time the money was received.”
“This agreement shall take effect upon its execution and shall continue to be in force and in effect within One(1) Year or until terminated by either party.
The contract was signed by MLFSI President Michael L. Lhuillier and CLIMBS President & CEO Fermin L. Gonzales last September 1, 2015 at the Cebu CFI Board Room, witnessed by CLIMBS Officers and other key personnel.
THE CLIMBS Journal
Volume 1 Number 29
July – September 2015 Issue