Legislative Issuances
AN ORDINANCE SUSPENDING THE ESCALATION CLAUSE OF TEN PERCENT (10%) EFFECTIVE JANUARY 1 TO DECEMBER 21, 2021 FOR ASIA UNITED BANK CORPORATION INVOLVING ITS OCCUPIED STALLS SPECIFICALLY DESCRIBED AS BLOCK NO. 36, STALL NOS. 1 AND 2, 1ST LEVEL OF THE NAGA CITY PEOPLE’S MALL, DUE TO THE ADVERSE EFFECT OF COVID-19 PANDEMIC
Summary: This ordinance suspends the 10% escalation clause for Asia United Bank Corporation’s occupied stalls (Block No. 36, Stall Nos. 1 & 2, 1st Level of the Naga City People’s Mall) from January 1 to December 31, 2021, due to the adverse effects of the COVID-19 Pandemic.
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