Register On Our Website

• All bidders should register first in this link.
• Upon approval of the registration the bidders can login and place their bids.

Floor Price

• FGen shall set the floor price of the total loss vehicle that will be put up for bidding.

Pay the Cash Bond

• Every bidder must post a cash bond, which is equivalent to 10% of the minimum bid price or a minimum of TEN THOUSAND (P10,000) PESOS, whichever is higher.
• Cash bond payment can be done through our online payment channel or deposit to head office-treasury department, or at any nearby FGEN branch.

Determine the Winning Bidder

• Once the winning bid is determined and approved, FGEN will notify the successful bidder via email.
• The winning bidder must make the full payment within TWO (2) DAYS from the date of
  notification. Payment can be in the form of a Manager's Cheque, cash, or online payment.
• FGEN will provide bank details for online payment. Any storage and towing fees (if
  applicable) and other incidental expenses shall be shouldered by the winning bidder.

  FGEN’s Bank Account Details:

  Bank Name and Branch : BDO - Bacolod Branch 
  Bank Account Name : FORTUNE GENERAL INSURANCE CORPORATION
  Bank Account Number : 003030040121

• The cash bond of the losing bidder/s shall be refunded accordingly.
• In the event that the winning bidder failed to pay the total bid amount within the given time frame, the cash bond shall be forfeited in favor of FGEN.

Rebid, if needed

• If there is no winning bidder, the unit will be rebidded, and a new bid announcement will be made by the specified deadline.
• Rebidding will be up to three (3) times only.

No Withdrawals after Deadline

• Bid offers cannot be withdrawn after the bid submission deadline.

Taking Possession of the Vehicle / Damaged Items

• The winning bidder can take possession of the vehicle or damaged items upon receiving an Authority to pull out issued by FGen.
• This should be done within the specified timeline allowed by the repair shop or the
  assured.
• Any damage incurred by vehicles not pulled out within the specified timeline will be at the sole risk of the buyer.

Sold "As Is, Where Is"

• Please note that all bids are on an “AS IS WHERE IS” basis
• Meaning it is sold in their current condition.

FGen's Discretion

• FGen’s Management reserves the right to reject bid offers, waive technicalities, or accept a bid offer that it deems best for the interest of the company.

Data Privacy

• FGen shall ensure that an obligation of confidentiality is imposed on persons, or its employees authorized to process Personal Data.
• FGen shall implement appropriate security measures and comply with the Data Privacy Act, its implementing rules and regulations, all amendments thereto, and other issuances of the National Privacy Commission.

Concern and Queries

• For Motor Car, bidders can send an email to Atty. Pauline Agustin (pmagustin@fgic.com.ph) or Jessica Labutoy (jdlabutoy@fgic.com.ph)
• For Non Motor, bidders can send an email to Leonida Fajardo (lgfajardo@fgic.com.ph) or Fatima Corral (mjcorral@fgic.com.ph)