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CICS

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Check Image Clearing System (CICS)

It is the new automated clearing system operated by the Philippine Clearing House Corporation (PCHC), where information on the check and its image are digitally captured by the Bank receiving the check deposit and presented electronically to the paying Bank. This eliminates the need to physically transport paper checks for clearing. 

Important Reminders to Check Issuers

1. Checks with old design (i.e., without waiver statement) will be accepted for clearing until June 30, 2017 only.

A Check with the new design has more security features
Sample of a Check with new design (i.e. with waiver statement):

2. Make sure the Check you issue is sufficiently funded.

3. Use pens with dark-colored ink (blue or black) to write the:

    • Date of Check Issuance
    • Name of Check Payee (or indication of Bearer or Cash for payee’s name)
    • Amount of the Check in figures and in words; and
    • Your Signature as Check Issuer

4. Do not use pencil, pens with gel ink or erasable ink to fill out required information.

5. Ensure that all Required Information are clearly and completely indicated on the Check and that there are no alterations or erasures on any of those information and on any other parts of the Check. Checks with alteration or erasure or incomplete information are not acceptable for clearing even if the erasure or alteration is countersigned by you.

6. Do not fold, crumple, staple, mutilate Checks or make markings that will overlap on the Required Information so the Check’s images will be readable enough for processing or clearing.

7. Review your monthly bank statement/s immediately upon receipt. Checks that are honored will no longer be sent with the bank statement/s; only the digital copies of the honored Checks will be provided to you. The physical Checks (paid) will be kept by the banks for 180 days only.

*CICS is joint undertaking of the Bangko Sentral ng Pilipinas (BSP) and the Philippine Clearing House Corporation (PCHC) with full support from the banking industry. From more information about the Check Image Clearing System (CICS), please visit the PCHC website at www.pchc.com.ph or you may contact your local bank today.

If you want to learn more about Check Image Clearing System (CICS)​​, watch the video below:

Power Supply Chain

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First Bay Power Corporation is a corporation duly organized and existing under and by virtue of the laws of the Republic of the Philippines, with principal office address at Kapitan Ponso Extension, Poblacion 2, Bauan, Batangas. The primary purpose of First Bay Power Corporation is to engage in the business of owning, managing, operating and maintaining and constructing electric power generation, transmission and distribution facilities avana. The Securities and Exchange Commission (SEC) of the Republic of the Philippines issued its Certificate of Incorporation of January 12, 2005 (SEC Registration No. CS2000500357).
First Bay Power Corporation Management have a combined total of approximately 160 man-years experience in utilities particularly in the areas of electrical distribution, telephone and broadcast. Specific examples of modafinil management experience are the implementation of Philippine Long Distance Telephone Co.’s (PLDT) Zero Backlog Program and Substation construction for the Manila Electric Company (MERALCO). First Bay Power Corporation Personnel have led and/or played major roles in large-scale projects such as:
      • Mabuhay Philippine’s launch of Agila-2 Satellite
      • Design and installation of the Dream Broadcast Center
      • Philippine Commission on Elections (COMELEC) Modernization program that required the design, set-up, and implementation of a nationwide election result transmission and consolidation facility using a data center and relying on VSAT Satellite technology
      • The design and installation of telecommunications for the Asian Development Bank (ADB)
In electrical distribution utilities, First Bay Power Corporation has entered into an agreement with the Municipality of Bauan, Batangas for the purchase of the plant assets and facilities of the Bauan Electric and Light System (BELS). By virtue of Republic Act No. 10891, enacted by the Senate and House of Representatives of the Philippines in Congress, First Bay Power Corporation was granted a franchise to construct, install, establish, operate and maintain a distribution system for the conveyance of electric power to the end users in the Municipality of Bauan, Province of Batangas for twenty-five (25) years.  As of December 2018, it has a customer base of 23,357.  The company is now composed of fifty seven (57) personnel and a fleet of 36 vehicles. Prior to First Bay Power Corporation taking over BELS, the utility had a system loss of approximately 50%. This system loss was due to outdated electrical facilities, pilferage’s and substandard business practices. To date, system loss has been reduced to as low as 10.68% and is geared towards a target of 8.5% by the end of 2019. The system loss was brought down by the implementation of various activities including:
      • Development planning, design and detailed engineering of BELS Distribution System
      • Rehabilitation of substandard distribution facilities
      • Construction of permanent business office and service yard
      • Computerization of billing and information system
      • Implementation of new business processes

Ongoing and future activities include:

      • Meter replacement of all customers
      • Meter clustering of selected areas
      • Construction of substations
First Bay Power Corporation is actively pursuing engagements with the various groups, particularly electrical cooperatives, power producers and technology providers, in light of the restructuring of the Philippine Power Industry. In environmental awareness and responsibility, First Bay Power Corporation has engaged in a 7-year contract to supply electricity to the municipality of Bauan coming from pure geothermal energy. First Bay Power Corporation is just one of a few distribution utilities that use 100% renewable energy as a source of electricity for distribution to its franchise area.