presentation on new irrs for advertisments, and dealers, brokers, and salesmen (1)

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Revised Rules on Advertisements

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  • 2014 REVISED IMPLEMENTING RULES AND

    REGULATIONS ON ADVERTISEMENTS &

    BROKERS, DEALERS AND SALESMEN

    ADVERTISEMENTS BROKERS, DEALERS

    AND SALESMEN

  • BROKERS, DEALERS

    AND SALESMEN ADVERTISEMENTS

    Sections 11 and 12

    P.D. No. 957

    Approved: December 2, 2014

    Published: January 30, 2015

    Effective: February 14, 2015

    2014 Revised Implementing Rules and Regulations on

    Advertisements

    2014 Revised Implementing Rules and Regulations on

    Dealers, Brokers and

    Salesmen

    Board Resolution No. 921,

    Series of 2014

    Board Resolution No. 922,

    Series of 2014

    Section 19

    P.D. No. 957

  • BROKERS, DEALERS

    AND SALESMEN ADVERTISEMENTS

    Section 19

    P.D. No. 957

    Sections 11 and 12

    P.D. No. 957

    Approved: December 2, 2014

    Published: January 30, 2015

    Effective: February 14, 2015

    2014 Revised Implementing Rules and Regulations on

    Advertisements

    2014 Revised Implementing Rules and Regulations on

    Dealers, Brokers and

    Salesmen

  • REVISED IMPLEMENTING RULES

    AND REGULATIONS TO GOVERN

    DEALERS, BROKERS AND

    SALESMEN OF SUBDIVISION AND

    CONDOMINIUM PROJECTS UNDER

    PRESIDENTIAL DECREE NO. 957,

    OTHERWISE KNOWN AS THE

    SUBDIVISION AND CONDOMINIUM BUYERS PROTECTIVE DECREE

    AND ALL OTHER PROJECTS

    REQUIRED BY LAW TO BE

    REGISTERED WITH THE HOUSING

    AND LAND USE REGULATORY

    BOARD

    REVISED IMPLEMENTING RULES

    AND REGULATIONS TO GOVERN

    THE ADVERTISEMENTS OF

    SUBDIVISION AND CONDOMINIUM

    PROJECTS UNDER PRESIDENTIAL

    DECREE NO. 957, OTHERWISE

    KNOWN AS THE SUBDIVISION AND CONDOMINIUM BUYERS

    PROTECTIVE DECREE AND ALL OTHER PROJECTS REQUIRED BY

    LAW TO BE REGISTERED WITH THE

    HOUSING AND LAND USE

    REGULATORY BOARD

    BROKERS, DEALERS

    AND SALESMEN ADVERTISEMENTS

    2014 Revised Implementing Rules and Regulations on

    Advertisements

    2014 Revised Implementing Rules and Regulations on

    Dealers, Brokers and

    Salesmen

    Board Resolution No. 921,

    Series of 2014

    Board Resolution No. 922,

    Series of 2014

  • Memorandum Circular

    No. 01, Series of 2015

    Memorandum Circular

    No. 02, Series of 2015

    BROKERS, DEALERS

    AND SALESMEN ADVERTISEMENTS

    2014 Guidelines on Advertisements

    2014 Guidelines on Dealers, Brokers and

    Salesmen

    Board Resolution No. 921,

    Series of 2014

    Board Resolution No. 922,

    Series of 2014

  • BROKERS, DEALERS

    AND SALESMEN

    Any other similar projects, including

    cemeteries, memorial parks, and columbaria

    All condominiums, including residential

    and commercial condominiums

    All subdivisions, including residential,

    commercial, farmlot, and industrial subdivisions

    ADVERTISEMENTS

    SCOPE OF APPLICATION

  • ADVERTISEMENTS

    Definitions

    refers to any form of information, whether in words or illustrations, disseminated or communicated in

    the same manner as an advertisement, solely for the

    purpose of initially informing or notifying the public

    about a project BUT NOT for the purpose of marketing

    or selling

    refers to any form of information, whether in words or illustration relating to a project, disseminated

    or communicated for the purpose of marketing and

    selling the project, or any lot including any building or

    improvement thereon, or any unit thereof

    ANNOUNCEMENTS

    ADVERTISEMENTS

  • Definitions ADVERTISEMENTS

    refers to all advertisements that are disseminated through news- papers, magazines, brochures, pamphlets, flyers and all other

    similar or related materials

    Print Advertising

    Broadcast advertising

    refers to all advertisements or commercials that are disseminated through radios and televisions. For purposes of this Rules, broadcast

    advertising shall also include cinema advertisements, or those aired

    or exhibited in theaters, as well as those disseminated or communi-

    cated through live streaming, or other similar methods

    Out-of Home Advertising refers to all advertisements intended to reach customers or prospective buyers while outside their homes

    such as but not limited to photographic and electronic billboards,

    transit advertisements, digital displays, banners, tarpaulins and

    posters

    Out-of Home Advertising

  • Media

    ANNOUNCEMENTS

    digital and electronic signages

    and communications

    newspapers, magazines,

    televisions and radio

    billboards, brochures,

    leaflets and flyers

    scale models

    buyers briefings, seminars or trippings

    ADVERTISEMENTS

    ADVERTISEMENTS Time Frame

  • Who May Announce

    or Advertise

    License

    to Sell

    ANNOUNCEMENTS

    ADVERTISEMENTS

    Time Frame ADVERTISEMENTS

  • Requirement of

    Prior Approval

    Who May Announce

    or Advertise

    ANNOUNCEMENTS ADVERTISEMENTS

    Owner

    Developer

    Owner

    Developer

    Dealer

    Broker

    Salesperson

    ADVERTISEMENTS

  • Truth In Advertising Requirement of

    Prior Approval

    ANNOUNCEMENTS ADVERTISEMENTS

    REQUIRED NOT REQUIRED

    ADVERTISEMENTS

  • Truth In Advertising ADVERTISEMENTS

    Any announcement or advertisement about a project, or

    about its operations or activities, must reflect the real

    facts and must be presented in a manner that will not

    tend to mislead or deceive the public.

    All representations pertaining to the projects payment and financing scheme, design and standards, and its

    amenities, facilities and other privileges connected

    with the sale of the lots, including any building

    or improvement thereon, or any units thereof, must

    conform with the rules and guidelines issued by the HLURB.

  • Design and

    Standards, Amenities

    and Period of Completion

    Truth In Advertising

    All representation and description in the advertisement

    pertaining to a projects designs and standards, amenities, facilities, infrastructures and improvements, and its period

    of development and completion must strictly conform

    with the projects approved site development plans, architectural plans and work programs.

    ADVERTISEMENTS

    Only such amenities and improvements specified in the approved

    site development and architectural plans of the project may be

    included or illustrated in the advertisement. Otherwise, the

    owner or developer shall be liable in accordance with

    Section 22 hereof [WARRANTIES]

  • Pictures

    And Illustrations

    Truth In Advertising

    Any picture or illustration of the project, or any of its

    features, facilities, or amenities that may be

    included or depicted in the advertisement shall be

    captioned as "actual photographs", "architect's

    perspective", "artist's illustrations" or such other

    similar captions, as the case may be.

    ADVERTISEMENTS

  • No mode or manner of payment and financing, including the

    amount of reservation fee, initial deposit or downpayment,

    required equity, installment plans, schedule and escalation, and

    discounts and interest rates shall be included in an advertisement

    unless such payment and financing scheme is fully disclosed in

    the advertisement and in accordance with the terms and

    conditions stipulated in the purchase reservation, contract

    to sell, or any other form or document relating to or which

    may be used in the sale of the lots, including any building

    or improvement thereon, or any units of the project, or

    in the sale of privileges connected with the project.

    Payment and Financing

    Schemes

    Truth In Advertising ADVERTISEMENTS

  • Payment and Financing

    Schemes

    Any representation on the amount of monthly installments

    dependent on approved credit or financing, whether

    in-house or third-party financing, must not be misleading

    and shall state the financing source and availability,

    the true terms, rates, charges, fees and penalties

    prevailing or applicable at the time of the sale transaction

    so as to enable a prospective buyer to make an informed

    choice about the actual cost of financing of such purchase.

    Any interest rate must be stated in

    terms of annual percentage rate.

    Truth In Advertising ADVERTISEMENTS

  • The location and distance of a project must be stated

    in a manner that will not tend to mislead the public or

    prospective buyers of its proximity, accessibility and value.

    Location and Distance

    Truth In Advertising ADVERTISEMENTS

    Any statement of the projects location and distance in relation to a known place or landmark shall be expressed

    in terms of kilometers, and any vicinity map illustrating

    such proximity to known places or landmarks must

    similarly indicate such distance or distances in

    terms of kilometers.

  • Truth In Advertising ADVERTISEMENTS

    To enable the public or p