The Anti-Money Laundering Act (AMLA) has been a recurring issue in many news stories. It’s no secret that there’s an increasing number of illegal and irregular financial activities being carried out almost in any country. Learn about compliance requirements, criminal offenses, and other related information regarding the Anti-Money Laundering Act in the Philippines.

The Philippines is a beautiful country with a fascinating culture and some of Asia’s friendliest and most generous people. The country is also one of the fastest-growing economies in Asia, meaning there are plenty of opportunities for anyone to start or expand a business and make money.

However, there are still challenges facing the country’s economy that need to be addressed if it continues its meteoric rise: money laundering is still an issue despite many efforts by concerned government agencies.

This article will discuss possible solutions for complying with money laundering laws and staying on top of the ever-changing regulations around this issue.

Anti-Money Laundering Act in the Philippines

The Anti-Money Laundering Act of 2001, known as the Republic Act No. 9160, is a law that aims to prevent the laundering of money earned through corruption, criminal activities, and terrorism. The law also seeks to combat terrorism and related crimes such as kidnapping for ransom, extortion, smuggling, human trafficking, and piracy.

The law is meant to protect the privacy of bank account holders, preventing the Philippines from becoming a money-laundering site for criminals. The law also protects financial institutions from being used by criminals to launder their ill-gotten wealth and funds.

Under the Anti-Money Laundering Act, select organizations must comply with anti-money laundering regulations in the Philippines.

• Financial institutions such as banks and/or non-banks and all other institutions regulated by the Bangko Sentral ng Pilipinas (BSP)
• Insurance institutions regulated by the Insurance Commission
• Securities dealers, brokers, sales associates, investment houses, and similar entities regulated by the Securities and Exchange Commission.

The law was enacted by the Philippine Twelfth Congress on October 17, 2001, and signed into law on September 29, 2001, by former President Gloria Macapagal-Arroyo.

Anti-Money Laundering Council (AMLC)

The Anti-Money Laundering Council is an independent, quasi-judicial body created by Republic Act 9160 and tasked to monitor, investigate and prosecute money laundering cases in the Philippines.

The AMLC comprises three members: The Governor of the Bangko Sentral ng Pilipinas (BSP) as chairman, the Commissioner of the Insurance Commission, and the Chairman of the Securities and Exchange Commission as members.

To ensure that the AMLC is properly organized and staffed, it has been authorized to establish a secretariat. It will be headed by an Executive Director, who will be appointed for five years. The Executive Director will have these qualifications:

• Member of the Philippine Bar
• Minimum of 35 years old
• Good moral standing

All Secretariat members must have been employed by the Insurance Commission or the Securities and Exchange Commission for five years and hold full-time permanent positions at the BSP.

Jurisdiction and Penalties

The regional trial courts will have jurisdiction over money-laundering cases, but the Sandiganbayan will hear cases involving public officers who conspire with private individuals.

The penalties for money laundering include the following:

• Section 4(a) – Imprisonment from 7 to 14 years; fine of not less than Php3M but not exceeding twice the amount involved
• Section 4(b) – Imprisonment from 4 to 7 years; fine of not less than Php3M
• Section 4(c) – Imprisonment of 6 to 4 years; fine of not less than Php100k
• Failure to keep records – Imprisonment of 6 to 12 months; fine of not less than Php100k but not exceeding Php500k
• Malicious Reporting – Imprisonment of 6 months to 4 years; fine of not less than Php100k but not exceeding Php500k (Subject to court discretion)
• Breach of Confidentiality – Imprisonment of 3 to 8 years; fine of not less than Php500k but not exceeding Php1M

5 tips to comply with the AMLA in the Philippines

Keep up with the latest financial regulations

It’s important to keep up with the latest policies set by financial regulators in the Philippines. The BSP and SECC are the main financial regulators in the country.

The BSP is responsible for the country’s monetary policy, including setting interest rates and managing foreign exchange reserves. The SEC is tasked with regulating all public companies and protecting investors from fraud or other forms of abuse. Both agencies have recently updated their websites, so check them regularly!

Regularly review customer transactions

It is important to monitor your client’s financial activity regularly to ensure there are no irregular transactions. This will help you avoid the possibility of money laundering.

The first step is to ensure that you are familiar with the types of transactions that may indicate possible money laundering. For example, if a client suddenly starts making large purchases or sending large amounts of money overseas, this could indicate that they are engaging in illegal activities such as tax evasion or drug trafficking.

Another thing to watch out for is a sudden behavior change. If your client starts paying with cash more often than usual or stops using their credit card altogether, it could indicate suspicious activity.

Finally, keep an eye on deposits made into accounts by other people or entities (such as family members). If these deposits happen frequently and are unusually large, they could be an attempt at laundering money through another person’s bank account or business account instead of directly passing it through yours.

You should also be aware of changes in your client’s business model or operations. If they suddenly start accepting payments from countries they didn’t before, this could signal that something suspicious is going on.

Keep good records of your business transactions

If you’re running a company, it’s essential to keep detailed records. This is especially true if you’re doing business with clients or vendors in other countries.

It’s easy for money laundering to happen when there isn’t enough transparency between the parties involved in a transaction. That’s why keeping detailed records of all transactions can help ensure that your company operates within the bounds of the law.

You’ll also want to make sure that any payments made by your company are being reported correctly on tax forms and other documents. In addition, it will be helpful if you can provide proof of what happened during each transaction, such as an invoice or receipt showing that your company received payment from another entity.

Screen customers and their transactions

Screening customers and transactions to avoid money laundering is a key part of your risk management program. It’s also one of the most important things you can do to ensure that you’re operating in accordance with applicable regulations and laws, as well as to protect your business from the negative reputational consequences of being associated with money laundering or other criminal activity.

Comply with the Data Privacy Act

The Data Privacy Act is a set of rules that govern how businesses use data, and it’s an important part of preventing money laundering.

It aims to protect consumers’ personal information from being used by companies and other entities for their gain. It also helps ensure that people control their data, which means they can choose how it’s used and who has access to it.

The purpose of this act is three-fold:

1) To protect consumers from identity theft and fraud, as well as other forms of abuse

2) To keep consumers safe from being targeted with unsolicited advertisements or other potentially harmful messages

3) To ensure that consumers have access to their data to make informed decisions about how it is used, shared, or sold

Final Thoughts

The Anti-Money Laundering Act is an important legislation that helps protect the financial system’s integrity. It makes it possible to prosecute people who attempt to launder money, making it easier for law enforcement to prosecute other crimes.

Understanding the Anti-Money Laundering Act of 2021 is important to ensure you are not violating it. This means ensuring that you do not have any suspicious transactions or accounts and that your employees are trained to identify potential violations.

AMLA and the real estate industry

The AMLA applies to financial establishments in the Philippines, including banks, credit unions, pawnshops, insurance companies, securities dealers, money changers, and remittance companies. It also extends to real estate developers, such as Brittany Homes, and owners who accept payments from investors through real estate projects like a condominium for sale, pre-selling lot for sale and house and lot properties for sale. It can also include subdivisions such as Forresta Villar Land and Forresta Luxury Lots.

The law requires these businesses to establish procedures for identifying customers and verifying their identities before buying deposits or selling products or services.

Real estate developers should also be aware of the risks involved with these laws and ensure they have adequate measures before engaging in any transactions with other parties.

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MICE conference is one of the most significant business events in the Philippines as it brings together companies and members of the public in one place. This regularly held conference provides a platform for investors and business executives to network, collaborate, and share knowledge.

Meetings, incentives, conventions, and exhibitions conference (MICECON) is one of the most significant events in the Philippines that offers a platform for investors, employees, customers, and suppliers to network and collaborate with other people from all over the world. It is usually held every year and lasts for about 5 days.

The events at MICECON include a trade show, seminars and workshops, entertainment programs, product launches, an awards night, and much more! The event has been running since 2010 and has been growing ever since.

In this article, we will learn more about the importance of the MICE industry to the Philippine tourism sector.

What is MICE Conference?

The MICE stands for Meetings, Incentives, Conventions, and Exhibitions, and other terms used are “Meetings, Incentive Travel, Conferences, and Exhibitions” or “Meetings, Incentives, Conferences, and Exhibitions”. The MICE conference is an annual event that takes place in the Philippines. It was first held in 2010. The event brings stakeholders from most travel and tourism industries to discuss current issues, network with other professionals, and make new connections.

MICECON provides an opportunity for buyers to network with exhibitors and get a chance to see new products and services offered by the latter. It also allows them to learn about the latest trends in the industry, which could help them plan their future events more effectively.

On the other hand, exhibitors take advantage of the MICE industry to showcase their products and services to potential buyers from different industries. In addition to allowing them to promote their offerings, exhibitors can also gain insights into what kind of events are planned by these companies so they can market themselves better to win more contracts.

The event highlights include:

• Keynote addresses government leaders, business executives, and thought leaders.
• Panel discussions featuring speakers from various industries to share insights on current trends affecting their businesses.
• Workshops and breakout sessions for delegates to learn more about specific topics.
• Networking opportunities where delegates can interact with one another for potential partnerships or collaborations.

To strengthen the sectors involved in the MICE industry, MICECON expanded its educational program to include a comprehensive local stakeholders program during the first year and international buyers invitational and business exchange program (MICECONnect) during the second year.

Role of the MICE Industry in the Philippine Tourism

The MICE industry’s importance to the Philippines’ economy is demonstrated by the employment opportunities it creates. Directly, through employment opportunities created by MICE tourism held in convention centers located in major cities; indirectly, through employment opportunities created by hotels and other businesses that provide services to delegates during their stay in these cities.

MICE activities indirectly boost demand for services and products other economic sectors provide, such as transportation, accommodation, and food service establishments.

By directly hosting these events, the local government host generates income from domestic and foreign sources through registration fees paid by delegates and attendees, accommodation fees paid by representatives who stay in hotels during their stay, and food expenses incurred by delegates during their stay in the city.

MICECON 2023

Davao City, the Philippines, is set to host the 2023 MICECON in March. The city is well known for its world-class food and accommodation, making it a perfect destination for business travelers and tourists.

The theme, MICECONverge: Blaze New Trails is focused on making MICECON an immersive experience that includes both physical and mental stimulation. It aims to allow delegates to explore the country’s rich history and culture through its people and natural resources while also encouraging them to think outside of their comfort zone by challenging themselves to do things they have never done before.

The tourism industry was severely affected by the pandemic and is still trying to recover. The Philippine government is working on several strategies to attract more tourists worldwide.

In an interview, Davao City Tourism Operations Officer-in-Charge Jennifer Romero said that MICE Con is one of many events that will help boost tourism. This is believed to increase revenue for the city.

She also added that prioritizing the MICE industry significantly helps the whole tourism industry as restrictions have been loosened.

MICECON 2023 Proposed Program

Day 1 Sub Theme: Celebrating Nature

Attire: Colors of the Earth (blue, green, brown, and white)

The first day of MICECON is a whirlwind of activity. The delegates will be greeted with an early morning visit to the Philippine Eagle Center, where they will learn about the conservation efforts to protect these majestic birds and their habitat. They also get to know more about the local culture and history of the area in a guided tour of Kadayawan Adventure Park.

The second half of the day features presentations from bidders for MICECON 2024, including an introduction by each bidder and a presentation on their plans for hosting this momentous event. Other activities include First Time Attendees Introduction, Philippine MICE Youth Challenge (Academic Competition), Power Dressing: How to Don an Image of Power) and Easy Glam Makeup Fix for Industry Divas.

The delegates will then enjoy dinner at Mayor’s Night—a welcome reception for the participants.

Day 2 Sub Theme: Celebrating Diversity

Attire: Philippine textiles from different regions

The first plenary session of the second day will feature experts discussing “Opportunities for a New Beginning Conversion into a Sustainable Destination.” The panelists include representatives from local communities, government agencies, and businesses, who will share their insights on how to make this happen.

The second plenary session will focus on “Legacy, Mega Events, Learnings, and Moving Forward.” Finally, the second day will wrap up with three Breakout Sessions with three sets per session.

Day 3 Sub Theme: Celebrating Travel and Technology

Attire: Airport Outfits

The last day of the MICE conference will be dedicated to content marketing strategy: the power of storytelling. Experts from all over the world will share their insights on how to use stories to tell your brand’s story in a way that sticks with people long after they’ve left your website or social media page. There will also be a breakout session with three sets in the morning.

This event will end with a motivational talk about Blazing New Trails.

MICECON Organizing Community

The MICE industry is the leading conference on meetings, incentives, conventions, and exhibitions in the Philippines. It is a national organization that brings together travel and tourism industry players from various sectors to share best practices, promote networking and build relationships with one another.

The Department of Tourism (DOT)

The Department of Tourism (DOT) is the lead government agency that promotes tourism as a major source of income by formulating policies and implementing plans to attract tourists to the Philippines. It is also one of the MICECON organizing committees.

Tourism Promotions Board (TPB)

To ensure the success of MICECON, the Tourism Promotions Board (TPB), an attached agency of DOT, worked closely with local government units and other stakeholders to ensure that all attendees would have a memorable experience in the Philippines.TPB is formerly known as Philippine Convention and Visitors Corporation (PCVC)

MICECON: Through the Years

MICECON 2018 – Bacolod

In November 2018, the MICECON welcomed 600 participants who discussed the theme “Towards a Connected and Sustainable Community.” Bacolod showcased its local tourism sector and its capability to host major events.

The MICE Roadmap 2030 has led to an increase in demand for MICE services. The Roadmap 2030 aims to create enabling policies and institutional support, improve infrastructure, develop a highly competitive workforce and strengthen research and development.

MICECON 2014 – Clark

The MICE Conference 2014 was held in Clark, Pampanga, from June 4-7. The theme of the conference was “MICE in 4D—Driving passions, Developing minds, Defying limits, Designing the Future” and aimed to increase tourism in the country by 15%.

MICECON 2013 – Davao

The MICECON Conference held in Davao City last March 2013 drew more than 500 participants from all over the country and abroad. The conference theme was “iMICE. ignite. innovate. inspire. infuse”. Sales are estimated to have increased by 20 percent due to this conference.

MICECON 2011 – Cebu

More than twenty experts from all over the world came to Cebu and shared their knowledge with 350 conference participants. The speakers discussed government, education, technology, business, and economics topics. They were able to teach the audience how these concepts could be used to improve lives and businesses.

MICECON 2010 – Subic

The MICECON 2010 conference was held in Subic, Philippines, from February 4-7, 2010. The event had a theme of “Life is MICE” and focused on developing and marketing the north as another MICE destination outside Manila, which has traditionally been viewed as the leading MICE destination in the country.

Final Thoughts

The MICE conference is an excellent opportunity for the Philippines to show off its vibrant and eclectic culture and economic growth. The MICE conference has been held in Davao twice before, so you can be sure that a wide variety of local businesses will be showing their wares during this event.

Brittany Supports Events that Drive the Country’s Economy

Brittany Corporation‘s dedication to supporting events that drive the country’s economy is a key component of its business model.

By joining and sponsoring events, Brittany Homes aims to build relationships with local businesses and community groups, which helps them to understand better what their clients need and want. The company also gets the opportunity to showcase its properties, such as Brittany Santa Rosa, Belle Reve, Georgia Club, and Vista Alabang.

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The location, household size, external and interior aesthetics, and other aspects are the main things Filipinos look at while choosing a home to reside in. Despite having similar heights to the rest of the planet, the Philippines is located at the intersection of the equator, which results in significantly warmer temperatures year-round. This is a result of the equator receiving nearly constant sunlight throughout the year. Considering the Philippines’ high humidity, it is extremely warm, particularly in the summer. Based on online searches, it has been shown that the majority of searches for a property involve having air conditioning as a cooling amenities.

A home’s key sources of comfort are the temperature and humidity levels it maintains. Different people have different preferences when it comes to luxury and comfort, and comfort can be a subjective concept. To keep everyone comfortable, modern air conditioning systems are present in most homes. What are the different types of cooling amenities are used in a luxury condo?

What features make luxury condos?

1. Smart Technologies

Modern networked systems, appliances, and other equipment that can be controlled remotely and automatically are installed in luxury homes nowadays.

Smart technology elements seen in contemporary luxury residences frequently include drapes that open and close at sunrise and sunset, internet-connected security cameras, motion sensor lights, and auto-adjusting thermostats.

The convenience of a smart house is what makes it necessary for living in luxury.

2. System’s Security

A magnificent home may have a number of elements that could attract unwanted attention.

In truth, robbers regularly target affluent homes in hopes of getting a large reward. As a result, the provision for home security is one of the distinctive characteristics of modern luxury dwellings.

More than merely an alarm system is included in most homes. They have surveillance equipment linked to a 24-hour security officer stationed at the provider’s office. These tools can speed up the process of alerting the proper authorities in the event of a fire, flood, or break-in. They also assist in reducing the number of false alerts.

3. Interior and Exterior Design

A luxury home offers extraordinary levels of customization and meticulous attention to every little detail. The high price is mostly attributable to the craftsmanship.

Reputable builders will demolish old structures and build new ones with architectural features like arches, rounded corners, and art niches. The cost of luxury real estate is high for a reason. High-end features that are not common in typical homes can be found in these pricey mansions. Keep in mind that the pinnacle of modern amenities, services, and technologies are required to reach luxury.

4. Unique Amenities

A luxury home has distinctly divided spaces in every room that contribute to comfort. It can be found in the dining room, living room, bedrooms, baths, and even dressing rooms.

After a hard day, you can relax in a beautiful bathroom. Luxury denotes the inclusion of spa-quality goods as well as components that heighten appeal, comfort, and state-of-the-art functionality. You can gradually submerge yourself in soothing bubbles in an opulent bathroom with a large tub, beveled mirrors, a soothing light, and alcove walls to lower body heat.

The dressing room has been added to the bedroom. A primary goal of luxury homes is to give owners a place to store and display expensive clothing. A large walk-in closet that is equipped with the right lighting, mirrors, racks to display handbags and shoes, and something that will provide much greater comfort—an air conditioning system—is vital.

The cooling amenities for your luxury property, however, are more important than these top lavish additions.

What are the best cooling amenities in a Luxury Condo?

Air conditioners are far more efficient at cooling down entire homes and rooms thanks to technical advancements. The biggest change is that designs are now much more subtle and ideally match modern luxury home designs. Here are some suggestions on how to turn your home into one of the adapted homes as summer approaches.

By being knowledgeable about the heating and cooling options available for your home, you can select the appropriate heating, ventilation, and air conditioning, or HVAC, equipment. By discussing the benefits of energy-efficient technologies and superior construction with your builder, you may have a better understanding of what is available, how it can meet your needs, and how it can improve your lifestyle.

• Air Conditioner Ducting

Ducts can be installed in each and every room of a house. Ducted air conditioning provides a comprehensive solution. These vents are hardly noticeable because of their flat installation against the roof. This type of air conditioning system’s key selling point is its capacity to regulate varying temperatures in separate rooms, or “zones.” For example, if you don’t want the smell of cooking to wake you up while you’re sleeping, you may close the kitchen vent. A room with ducted air conditioning will also feel cooler than usual when you walk in, but you won’t feel a sudden rush of frigid air as you move around the room.

Most newly constructed homes feature forced air systems, which comprise a central heater and an air duct system. Typically, the furnace is powered by either natural gas or electricity. After being pushed by a blower through supply ducts, air from heat registers is distributed throughout the living area. The blower also pulls cooler air through the return ductwork, which is then used to reheat the air at the furnace. The same ductwork can be used to convey cool air from a central air conditioning system during hot weather. Regardless of the season, a well-designed duct system can provide balanced airflow to all areas for maximum comfort and efficiency.

• Installing Thermostats

Thanks to the thermostat, the inside temperature of your home can remain constant. In larger homes, there could be a lot of thermostats. Until it deviates by one degree from the desired temperature you’ve set on your thermostat, your heating or cooling system won’t switch on. Once the required temperature has been reached, the thermostat directs the system to shut off.

Utilizing a programmable thermostat is a trustworthy, cost-effective way to cut energy consumption and save money on home heating and cooling. When living rooms won’t be inhabited, you can schedule the temperature to be set automatically on those days and at those hours.

• Good Quality of Construction and Insulation

Improved windows, superior insulation, and high-quality building materials are just a few examples of energy-efficient improvements that will make your home feel warmer in the winter and cooler in the summer. windows that are double-paned and insulated with argon gas keep heat inside during the winter and keep it out during the sweltering summer.

When installed properly, higher insulation levels prevent your home from becoming uncomfortably hot or cold. The stress on your HVAC system can be reduced by better insulation’s ability to maintain temperature balance in your home, particularly from room to room.

Although the initial outlay might seem extravagant, better building practices and energy-efficient technology last longer and require less maintenance over time. Less noise, airborne dust, drafts, and exposure to air pollution are also likely as a result of stronger windows, increased insulation, and tighter construction. Compared to freshly built homes built to code, some Energy Star-certified homes are reportedly at least 10% more efficient.

Luxury Condo with Cooling Amenities in Baguio and Tagaytay

When you are prone to excessive heating due to the weather, a great place to stay is in highlands where the climate is typically cool.

Luxury condos in Tagaytay and Baguio will give you the best amenities that offer calmness and coolness on the inside and outside being.

If you are interested in buying a property in a cool place, check this out to see condos for sale both in Baguio and Tagaytay.

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Are you looking to expand your foreign currency portfolio? Earn money on your foreign currency deposits and watch your account balance grow. Here are things you ought to know about FCDU loans.

The world is getting smaller, and the opportunities to make money are growing. But what happens when you want to buy a house in Germany, but all your savings are deposited in the local currency? What if you’re trying to expand your business into China and need to pay employees there?

A bank that allows you to transact in different foreign currencies can help you diversify your assets and open up new growth opportunities.

This article will discuss what you need to know about Foreign Currency Development Unit (FCDU) so that you can make an informed decision about targeting your financial goals. We will also look at how the country performed in fcdu in 2022.

What do you need to know about FCDU?

FCDUs are BSP-approved financial institutions that accept foreign currency deposits from individuals and organizations and then remit them to the intended beneficiaries under Republic Act No. 6426( Foreign Currency Deposit Act of the Philippines). They’re a great way to take advantage of favorable exchange rates and avoid currency restrictions.

The FCDU is an important part of the BSP’s mission to ensure that the Philippines can continue growing. These banks are not only able to accept deposits in foreign currency, but they also make loans in foreign currency.

FCDUs are unique because they accept deposits and open accounts in other currencies to offer their customers access to foreign currency payments. These relationships give them more options than domestic banks when choosing which loans they offer their customers.

You can see the complete list of BSP-approved banks offering FCDU in this LINK.

Deposit

A foreign currency deposit unit (FCDU) is a type of bank account that allows you to deposit money and earn interest in foreign currencies. It’s like having an international bank account but with the benefits of a local bank account.

What can you do with Foreign Currency Deposit Units? You can perform basic banking transactions like deposits and withdrawals and more advanced operations such as forex trading or currency hedging. The terms used in FCDU differ from those used in traditional banking services, so make sure you understand the lingo before proceeding with any transactions!

What are the advantages of owning a foreign currency account? There are multiple advantages to owning an FCDU:

1. Safety – PDIC insurance covers this type of account

2. Convenience – It’s easy to transfer money between your domestic and international accounts because they’re all linked together under one login page.

Purchase

In a world where everything is so interconnected, it’s no surprise that we want to be able to make purchases in other countries. But because of the way the exchange rate works, it can be more complex than going to an ATM and withdrawing the local currency.

That’s why Foreign Currency Deposit Unit (FCDU) accounts exist! They allow you to purchase foreign currency from your bank conveniently.

FCDU accounts can be used to pay for education, medical and travel expenses up to $500,000 per day for individuals or $1,000,000 for corporations.

Invest

FCDU allows you to invest in foreign currency using your FX or FX purchased from banks. You can invest in any instrument that applies to the Philippine laws issued/created by non-residents.

With FCDU, you can earn additional income from your existing assets by making them available for use by non-resident entities. The process is simple: you transfer the funds from your account to an FCDU account and earn interest on the amount that has been deposited. You can withdraw the money at any time.

The foreign exchange rate depends on the type of instrument being deposited. For example, if you deposit US dollars, there will be a higher interest rate than Canadian dollars.

The Pros and Cons of Opening a Foreign Deposit Account

Opening a Foreign Currency Deposit Account can be an excellent way to diversify your investment portfolio. However, it is important to understand the pros and cons of opening such an account before making any decisions.

Pros:

• Interest rates are usually higher than domestic accounts
• More stable than other currencies, so your money is less vulnerable to fluctuations in value
• You can open an account with any currency
• You can protect your investment by diversifying it across multiple currencies at once.

Cons:

• There may be restrictions on how much can be withdrawn per month/year (depending on the bank).
• You need to have a minimum amount of money to open the account.
• It’s usually not possible to transfer money from this type of account into a different account (e.g., checking).

2022 FCDU in the Philippines

The BSP reported that loans granted by the Foreign Currency Development Unit (FCDU) for the third quarter of 2022, or about USD 15.67 million, improved by 0.3% from its previous report, where USD 15.71 billion was recorded.

Despite the decrease in Foreign Currency Deposit Unit (FCDU) loans, they still need to maintain their liquidity. This is because of the uncertainty in the economic outlook and a deliberate move by lenders to tighten their lending operations.

Decreases in FCDU loans have been attributed to a gradual movement by the Central Bank to tighten the monetary policy by causing lenders to decrease their credit parameters and increase their standards for lending.

BSP reports that gross disbursements in the third quarter of 2022 reached US$14.6 billion, down from the previous quarter by 6.5%, primarily due to lower funding requirements at a foreign bank branch affiliate.

Loan repayments in the same quarter totaled USD14.6 billion, an 8% decrease from the previous quarter’s figure, resulting in overall net disbursement. BSP also added that the FCDU’s liabilities amounted to USD45.8 billion at the end of September 2022, down by USD838 million from 3 months earlier.

Final Thoughts

The Philippines has a lot of potential. It can become a global leader in many industries with the right investment and support. By allowing the government to borrow from foreign lenders at lower rates than it pays out to domestic lenders, the FCBU will enable the Philippines to increase its revenue and lower its expenses. This will allow it to pay off more debt and still have money left over for things like education, defense spending, and infrastructure projects.

FCDU and the Real Estate Industry

The improved economy has had a significant impact on real estate. Property demand will increase as more people can afford to buy homes and rent apartments. This will lead to higher property values and higher rents, especially if you own a condominium in Davao, a luxury condominium in Baguio, a luxury house and lot in Laguna, a house and lot in Daang Hari or a luxury condo in Tagaytay. The housing market is also expected to become more stable and less volatile since fewer foreclosures and bankruptcies are filed.

The Foreign Currency Deposit Unit is a government institution that was created to facilitate foreign investment in the real estate sector. It has been instrumental in increasing the amount of foreign currency available for investment and development projects and providing an opportunity for investors to diversify their portfolios with a reliable and stable asset class such as Brittany Corporation.

The FCDU has been successful because it provides liquidity and stability at a time when both factors are crucial for growth in any country.

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Credit rating is a vital part of your financial identity. It’s important to know where you stand so you can make intelligent decisions about what you can afford and how to get there. This guide will help you understand what you need to know about ‘BBB’ credit rating and the factors that go into getting a good credit rating.

Credit can be like the weather: it’s easy to ignore, but if you don’t keep an eye on it and take appropriate action when problems arise, you may get caught in a bad situation.

When you have a good credit score, life is much easier—you can get higher loans for cars, houses, and apartments, as well as find work as an employee or contractor. But when you have a bad one, things can be challenging: You may have trouble getting loans for anything, which means you’ll need to save up or pay out of pocket for everything from cars to houses.

This article will help you learn what a credit score is, how different factors affect your score, and how you can improve your credit score to take advantage of the many benefits of having a good credit score.

What is a credit rating?

A credit rating is a number or letter representing an individual’s or company’s financial strength including credit risk. They are used to determine how likely someone is to pay back a loan and what interest rate they’ll have to pay on it.

The primary purpose of a credit rating is to measure the risk of lending money to an individual or organization. This lets lenders know how much money they could lose if the borrower does not pay back their loan, and it helps them decide what interest rate they should charge for that risk to be worth it.

Credit ratings and scores are different. A credit rating is an evaluation of your financial history, while a credit score is a numeric representation of your likelihood of defaulting on a loan.

Credit ratings can be provided by a credit bureau, which collects information about your financial history, income, and other factors that determine whether you are likely to repay debts on time. Moody’s, Standard & Poor’s, and Fitch are some of the most widely recognized rating agencies. The Philippine Rating Services Corporation (PRSC) is the country’s only domestic credit rating agency accredited by the Securities and Exchange Commission (SEC).

How is a credit rating calculated?

There are several ways that credit ratings are calculated, but they all include information about your payment history, how much you owe, the length of your credit history, and the types of accounts you have. Credit ratings also consider recent credit activity.

Credit rating agencies use this information to create a score that shows lenders how likely you are to repay their loans. When they make decisions about whether or not to lend money or at what interest rate, they look at the scores from the credit rating agencies. Higher scores mean lower interest rates for borrowers—and better terms for lenders!

Credit ratings can be updated periodically as new information about your financial situation becomes available. The FICO credit rating system is believed to weigh payment history (35%), the amount owed (30%), length of credit history (15%), credit mix (10%), and new credit applications (10%).

Benefits of a higher credit rating

A higher credit rating means you have more options for financing your real estate deals, especially if you are planning to purchase luxury lots in Daang Hari or a condominium in Baguio. You can even have good deals on a house and lot for sale or a pre-selling lot for sale. Some real estate companies, such as Brittany Corporation, check an individual’s capacity to repay amortization.

You can get lower interest rates, better loan terms, and even access to private lenders willing to lend to people with low credit scores. Higher credit ratings also mean that you’ll be able to buy more properties in Brittany Sta. Rosa or in Vista Alabang with the same amount of money. This is because a lender can give you a larger loan at a lower interest rate.

You’ll also save money by paying less interest and fees every month.

What are the different types of ratings?

When you’re looking to borrow money, the lender will want to know that you can pay it back. The lender will look at your credit history and consider how likely you are to repay the loan. This process is known as “credit analysis,” and it’s a way for lenders to get information about how good a borrower’s risk is. The two main types of credit ratings are investment grade and speculative grade.

Investment grade rating is a term used to describe a rating given to an individual or company with strong management and financial capacity. Companies in this category are considered safe investments, meaning they will likely pay back their debts.

The speculative grade is given to individuals or companies who may not be as stable or financially sound as others. These companies will probably not pay back their debts, but they also offer investors the chance at high returns on their investments because they are riskier than other companies.

Major financial institutions use a credit rating system based on the three major credit rating agencies: Fitch, Moody’s, and S&P. Each agency uses its terminology for its ratings. The chart below shows the equivalency between the different agencies’ ratings and relates them to our credit level index.

What is the BBB rating?

The BBB score from Moody’s, which measures an individual, a company, or a government’s ability to meet its financial commitments, suggests that the organization has an adequate but manageable capacity to meet its obligations. While BBB is not as good as an A rating, it.

What is BBB-rated debt?

BBB-rated bonds are considered investment grade, which means that the bond is likely to be paid in full at maturity. This type of bond also has a low risk of default.

The BBB credit rating is given to bonds with a higher risk of default than bonds rated AAA or AA. However, they’re still considered relatively safe investments. The BBB rating indicates a moderate chance that the issuer will default on its obligations due to financial distress or poor management practices.

Is BBB higher than BB+?

When looking at a company’s debt rating, you’ll often see it listed as “BBB” or “BBB-.” The letter in front of that number is what tells you how good the rating is.

So if a company has an A+ rating, its debt is considered very safe—it’s much less likely to default on its obligations than companies with lower scores. If a company has a BB+ rating, its debt is less safe—it’s more likely to default on its obligations.

The difference between BBB and BB+ is small enough that they are interchangeable for most purposes (as far as ratings go). You can check the table above to see how other ratings rank credit ratings.

How do you get a high credit rating?

Getting a high credit rating is like getting a good grade in school. To get a high credit rating, you need to work hard and prepare for the challenges ahead.

Here are some tips for getting a high credit rating:

• Pay your bills on time.
• Don’t close accounts if they’re in good standing—it can hurt your score.
• Keep your balances low, and don’t max out any of your cards—use less than 30% of your available credit at any given time.
• Don’t open too many credit cards
• Consolidate your debt
• Review your credit report regularly and dispute any mistakes or errors

Final Thoughts

Your credit rating is critical to your financial security, and you should never take it for granted. When you understand what goes into your score and how important it is to monitor it, you can rest assured that your credit will be in good hands—and that you’ll be able to make the most of the opportunities that come your way.

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In the pre-pandemic and post-pandemic eras, the primary problem in the Philippines is the heavy traffic. In a recent study, it was shown that Metro Manila ranks ninth worst in the world for the number of hours spent in traffic among cities as more businesses and institutions move toward on-site operations. According to another study by the insurance technology company GoShorty, Manila has a 43 percent congestion level and 98 hours of lost time to traffic per year, or more than four days that Filipinos spend stuck in the notorious traffic jams of the Metro. We have a lot of means of transporation in the Philippines, but ultimately, having a subway like this will benefit the lives of many Filipinos.

Increased public transportation is one way to reduce traffic congestion, according to experts, in Manila and other Philippine cities. Daily commuters should have access to more public transportation and fewer private vehicles.

The solution to the problem is gradually being answered. A new mode of transportation is currently having its construction process. It is the very first subway here in the Philippines. The difference of this from any other train is that the Underground train system used to carry large numbers of passengers in urban and suburban areas is known as a subway, sometimes known as underground, tube, or métro. For the convenience of construction, subways are typically laid beneath city streets, but they may also take detours and occasionally must cross rivers. If you want to learn more, keep on reading.

Who funded Metro Manila Subway?

The Department of Transportation has declared that construction on a Metro Manila subway would begin in January 2019, which is 45 years after the project was initially proposed in 1973.

According to DOTr, the groundbreaking ceremony for the subway was originally scheduled for December 2018 but was postponed as a result of scheduling conflicts among important project participants. From Mindanao Avenue in Quezon City to the Ninoy Aquino International Airport in Pasay City, which is approximately 35 kilometers apart, the journey will take about 40 minutes at max.

The Japan International Cooperation Agency provided a loan to finance the Metro Manila Subway, which has a total cost of Pesos 488.47 billion (Jica). The Consunji family’s DMCI Holdings Inc. earned a P21 -billion contract for its first-ever subway project. With partner Nishimatsu Construction Co. Ltd. (NCC) of Japan, DMCI’s division for construction, D.M. The Quezon Avenue and East Avenue subterranean stations and tunnels for the Japan-funded Metro Manila Subway Project were awarded to Consunji Inc.

Japan’s Contribution to Philippine Construction

According to the Department of Finance, Japan has donated $14.14 billion in loans over the past 20 years, representing more than 72% of the nation’s foreign aid portfolio. The depth and breadth of Japanese assistance are depicted in vivid detail on an official development assistance (ODA) map released by the Japan International Cooperation Agency (JICA). In collaboration with national government agencies and local government units, JICA is currently carrying out 80 projects in areas such as governance, economic infrastructure, investment promotion and economic development, disaster risk reduction and management, agriculture and agribusiness development, environment and energy, health and social development, as well as peace and development initiatives in Mindanao that have benefited more than 25,300 farmer-beneficiaries.

The North-South Commuter Railway Project (Malolos-Tutuban and Malolos-Clark-Blumentritt), Capacity Enhancement for Mass Transit Systems in Metro Manila, and Technical Assistance for the Philippine Railway Institute are among the other ongoing significant infrastructure projects, most of which are focused on railway infrastructure for mass transportation, according to JICA.

In order to facilitate technology transfer and empower project recipients, both institutional and individual, to sustain and reproduce the projects and programs in other communities, Japan has also offered supplementary assistance on capacity-building.

The Back Story of the Metro Manila Subway

The initial year of ideation by the Overseas Technological Cooperation Agency (now JICA) and former Public Works and Transportation Secretary David Consunji was year 1973.

The subway was a component of the “Metro Manila Dream Plan,” which sought to address the city’s issues with traffic, land use, and the environment by developing a contemporary, seamlessly integrated, cost-effective transportation system.

Later, the subway proposal was incorporated into the World Bank-sponsored MMetroplan, also known as the 1977 Metro Manila Transport, Land Use and Development Planning Project. The flooding in areas within the scope of the project, including Marikina, Cainta Rizal, Tondo, Pasay, etc., the project was postponed for a time being.

Because of that, Line 1 of the Manila Light Rail Transit System (LRT-1) was built instead.

Felino “Jun” Palafox, an urban designer and architect, said that the Marcos administration considered the LRT-1 the “most practicable” project to construct.

Furthermore, because the plans for the Metro Manila Subway were set aside, the Manila Metro Rail Transit System-Line 3 (MRT-3) and the Manila Light Rail Transit System-Line 2 (LRT-2) were constructed.

The Aquino administration had intended to start building the subway in 2014 as part of its “Public-Private Partnership” initiative, but due to scheduling issues, it was once again deferred.

By August 2016, the Duterte government had made the decision to take over the project as part of its “Build, Build, Build” campaign, which seeks to boost the nation’s economy by implementing a number of infrastructure projects.

Service demand was one of the main reasons why the former undersecretary of Rails and Toll Roads, Noel Kintanar, wanted to push and go through the project once again.

A financial deal was reached in March 2018 between the Philippines and Japan for the building of the subway, with the first phase of the project receiving a budget of about P51.34 billion.

In November 2018, OG Global chose six Japanese companies to manage the project.

The Oriental Consultants Global Co. is this. Tokyo Metro Co., Ltd. Ltd., Engineers International, Katahira, and Pacific Consultants Co. Ltd., the Metro Development Co., and Tonichi Engineering Consultants Inc. Ltd.

Is it possible to build a subway in the Philippines?

The answer is Yes!

With the goal to ease heavy traffic, it pushes the government, contractors, and developers to continue this project. It anticipates assisting Filipino people in avoiding lengthy traffic lines and even saving themselves from the dangers of commuting by providing them with accessible stations that can accommodate a large number of passengers. The new Metro Manila line is 33 kilometers long with 17 stations.

One of the Metro Manila Subway’s seven civil works contracts, CP104 calls for the utilization of a tunnel boring machine to construct 3.4 kilometers of tunnels and the Ortigas and Shaw Boulevard stations (TBMs). 19 additional TBMs will be placed into operation on various sections before the end of this year.

What to expect on this Project Subway Philippines?

The TBM’s launching ceremony, according to Deputy Chief of Mission MATSUDA, is a sign that Japan-Philippines infrastructure cooperation is gaining strength under the “Build, Better, More” policy. He also emphasized the subway’s potential economic and environmental benefits by giving Filipinos a reliable and safe means of transportation. Using cutting-edge Japanese technology, Ambassador KOSHIKAWA Kazuhiko expressed his confidence in realizing the dream of the Filipino people to take advantage of the convenience of a subway system. He gave assurances that the Japanese government will continue to support this flagship project in a “full speed ahead” manner.

The Metro Manila Subway, known as the “Project of the Century,” is being built steadily. This 17-station railway will cut the time it takes to get from Quezon City to the Ninoy Aquino International Airport (NAIA) in half, give many Filipinos in Metro Manila a safe and comfortable ride, and boost the Philippine economy by reducing carbon dioxide emissions and Metro Manila’s heavy traffic congestion.

Ease of Luxury Living with Brittany Corporation

Luxury properties rich in character and sophisticated in their theme appeal are what Brittany Corporation specializes in, and they were the first to develop and implement dream luxury home communities. Brittany’s opulent neighborhoods are modeled after some of the world’s most picturesque destinations, bringing the world’s most stunning sights right into the home of the city’s most elite.

When you’re thinking about opening a bank account or are already in the process of doing so, it’s essential to be clear on why you want one, and what types of bank accounts are available.

Several different types of bank accounts allow you to manage your funds in the best way that works for you. The type you choose will depend on your needs and what you want to do with your money. A basic savings account might be suitable if you are looking for a simple way to keep track of your spending. However, if you want an account that offers more benefits and perks, consider looking at other options, such as opening a checking account.

Brittany Homes gives you an all-in-one understanding of checking accounts so that you can make smart decisions when managing your finances.

What Is a Checking Account?

A checking account also called a current, demand, or transactional account is a type of bank account that allows you to write checks, make withdrawals, and pay bills or make purchases. Checking Account products may also include Debit Cards, which can be used to access your funds anytime at any Automated Teller Machines.

A checking account in the Philippines can either be a business or a personal account. Business accounts are designed for businesses that need to pay employees, vendors, and vendors who sell products and services directly to customers. Business checking accounts usually have a P50,000.00 maintaining balance. Personal accounts are intended for individuals who want to make regular withdrawals from their accounts, such as paying loans, rent, credit cards, etc.

Why Should You Open a Checking Account?

There are many reasons to open a checking account, but we’re going to focus on just three: convenience, affordability, and accessibility.

Convenience

Why would you use your debit card when there are many more convenient options? The most obvious one is that you can check your balance anytime. You can even get alerts when there’s activity on your account (like a pending transaction or a new debit card).

Affordability

If you have a savings account or another checking account with benefits like no fees or free ATM withdrawals, consider opening an additional checking account. Depending on your situation and needs, this could be especially beneficial if you have a business but need it moved around quickly or need access to cash without fees while traveling abroad without access to an ATM. A lot of condominium in Davao or luxury condominium in Tagaytay accepts post-dated checks from tenants to pay their monthly rent.

Accessibility

Banks in the Philippines offer several ways to access your funds—including debit cards, credit cards, online banking services, mobile apps, ATMs, and debit cards at local retailers like grocery stores or restaurants… the list goes on!

Pros and Cons of Having a Checking Account

Having a checking account can be a great way to manage your finances, but it also comes with some downsides. Here are the pros and cons of having a checking account:

Pros

• You can pay bills online and set up automatic bill payments.
• You can write checks to pay for merchandise that may not accept credit cards, such as rent, car payments, and utilities.
• You can write post-dated checks when paying for large amounts, especially when you invested in luxury lots in Villar land or luxury lots in Daang Hari.
• You can receive direct deposits from employers and other companies into this account, making it easy to track your monthly income.
• You can access your money anywhere and anytime if you have your debit card or mobile device.
• Build credit score
• You can get better interest rates than with other kinds of accounts.

Cons

• Banks charge fees for writing checks, withdrawing money from ATMs, and over-drafting your account.
• If you need more money in your savings account, you might be charged if the balance falls below the maintaining balance.

Checking accounts: 5 things you need to know?

Checking accounts are an essential part of your financial life, but it’s easy to get caught up in the day-to-day and forget to take a step back and consider how they work. Here are five things you need to know about checking accounts:

Opening the account

If you’re looking to open a bank account in the Philippines, there are a few things you’ll need to know about how to open a checking account.

First, it’s important to understand that the requirements on how to open a checking account vary from bank to bank. You may be asked for different things depending on which institution you choose. However, there are some basic requirements that nearly all banks ask for:

• Valid government IDs (Passport, Voter’s ID, Driver’s License)
• A recent utility bill/proof of billing with your name and current address on it
• An email address and phone number where the bank can reach you if needed
• Proof of income to verify your ability to make payments regularly without interruption

You should also be prepared with information about your credit history and banking habits—if any—as well as any other pertinent details related directly to why you’re opening a new account at a particular bank.

Maintaining Balance

Below is a list of top bank account that offers a checking account – Philippines and their maintaining balance (in Philippine pesos).

• East West (Basic Checking) – 5,000
• Bank of Commerce – 5000 for checking account; 25000 complete checking account
• BDO (Peso Checking) – 15000
• Chinabank (Easi-Checking) – 5000
• DBP (Current Account) – 5000
• Land Bank (Regular Checking Account) – 5,000
• PNB – 10000 for regular checking; 25000 for priority checking
• BPI (Regular Checking) – 10000
• Metrobank (Regular Checking) – 10000
• RCBC (Basic Checking) – 10000

Fees

One of the most important things to consider when choosing a checking account is its fees. Fees can vary widely, and some are unavoidable. For example, every bank charges a certain amount for using a debit card (though some charge less than others). You may also need to pay other fees to meet certain requirements or make certain transactions.

Reading through your bank’s fee schedule before signing up for an account or making any transactions that incur additional fees is best. Below are some standard fees you may encounter in a checking account.

• replacement of a lost passbook or a checkbook
• interbank charges
• statement of accounts (some banks provide statements of account for free)
• dormancy charges
• below maintaining balance
• early closure charges

Interest rates

If you’re looking for a checking account, you may be wondering how much balance to earn interest or how to earn interest through this type of account.

The answer is: that it depends.

You might think the interest rate would be the same no matter what bank you choose, but it’s not. The interest rates differ depending on where you bank and how much money you deposit into your account.

To put it simply, the more money you put in your account, the more interest will accrue—and this means that if you want to earn many rewards from your checking account, it’s important to consider both how much money you have saved up and how much of it you deposit into an account with a high rate of return.

Deposits and Withdrawals

Deposits and withdrawals are one of the most important aspects of a checking account. You can deposit money into your checking account in a few ways. For example, you can deposit cash or checks at an ATM or a teller. You can also deposit money online using your bank’s website.

When you withdraw from your checking account, the funds are available immediately — just like cash! You can withdraw money from ATMs or withdraw at tellers by writing checks or making withdrawals with your debit card.

How to Find the Best bank for You

Finding the best bank for a checking account in the Philippines depends on what you’re looking for and where. There’s no real secret to finding the best bank for you. You need to know what you’re looking for—and what you want from your banking experience.

You’ll find that most banks offer a variety of banking products and services. Some banks in the Philippines specialize in deposit accounts, others in credit cards and loans, and others in savings accounts or investment products. To find the best bank for your needs, ask yourself these questions: “What are my financial goals?” and ” How much money am I willing to risk on a new account?”

Here are a few tips for finding the best bank for a checking account in the Philippines:

1. Look for a bank that has branches in your area. If you have to drive to the branch to open an account, you’ll have to pay for gas and time that you would have spent at home working on your computer or other activities.

2. Make sure that the bank has ATMs available in your area. This is especially important if you want to avoid carrying cash everywhere.

3. Check out their customer service offerings before opening an account. If they offer free checking accounts, they don’t cost much once you start using them!

Final Thoughts

All in all, checking accounts is essential for managing your money. If you’re ready to get started with a checking account, we recommend looking into what type of account will work best for you and your business. This guide helped you know more about the available checking accounts!

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A Stainless steel is a family of alloy steels containing 10 to 30% chromium. In conjunction with its low carbon content, and of chromium oxide provides exceptional corrosion and heat resistance. Other elements, such as nickel, molybdenum, titanium, aluminum, niobium, copper, nitrogen, sulfur, phosphorus, or selenium, may be added to improve corrosion resistance, oxidation resistance, and impart special properties.

Stainless steel is a great material for kitchens and bathrooms because it is both durable and shiny. However, as anyone who has owned stainless steel kitchen appliances knows, the name is somewhat misleading. Fingerprints, streaks, and water stains are common with this material. The term “stainless” was originally applied to metals that could withstand heat and humidity without corroding. Although stainless steel is a tough material, harsh abrasives can scratch or rust it, so it’s critical to learn how to clean stainless steel properly.

Designers have frequently debated whether it will continue to reign supreme in kitchens or succumb to the allure of glossy black or white appliances with sleek, smooth finishes.

While the debate rages on, the popularity of stainless steel appliances, countertops, and other kitchen elements grows. Whether you have a few or a lot of the shiny stuff, here’s what experts recommend you do about those fingerprints, as well as how to care for and to clean your one of the surface of a house’s hardest-working.

In addition to its appealing look and smooth, impermeable surface that prevents the growth of bacteria and other microbes, it is used so frequently in commercial kitchens because it resists rusting despite normal usage and wear.

Unfortunately, this does not rule out the possibility of rust and stains. The protective film on stainless surfaces becomes vulnerable to damage if it is scratched with a steel pad or wire brush, comes into contact with hard water that is allowed to puddle or sit, or is exposed to chlorides from household cleaners, according to experts at the North American Association of Food Equipment Manufacturers.

How to Clean Stainless Steel

The distinctive gleam of stainless steel can be found everywhere, from the kitchen sink to the top of the Chrysler Building. And it’s no surprise: it’s a high-performance marvel, a material that won’t corrode or rust. It also does not stain easily, though it is not stain-proof. Because of its low maintenance and distinctive luster, it is popular in cookware, cutlery, hardware, and major appliances such as refrigerators and stovetops, as well as surgical instruments and many industrial applications.

Fortunately, it is simple to clean using a variety of low-cost methods. Unlike some materials, it thrives when cleaned frequently. A stainless steel surface cannot be worn out by excessive cleaning.

Follow the instructions below to make it shine and live up to its name.

Stainless Steel Cleaning Tip #1: Safety First

It’s a good idea to check the manufacturer’s recommendations before cleaning a stainless steel appliance. Have you misplaced your manual? Don’t be concerned; you might be able to find it online. Because there are various grades of stainless steel that may be more or less durable, and some appliances are treated with a clear-coat finish that can be stripped by certain cleaning products, it’s critical to read the instructions for your specific appliance.

To clean it, start with the right tools for safe care and cleaning. As a first line of defense, the European Stainless Steel Development Association, or ESDA, recommends using soft sponges and microfiber cloths or with a soft cloth.

Steel scouring pads, which can scratch your stainless steel steel, should not be used to clean . For tough jobs, use plastic scrubbing pads instead.

Stainless Steel Cleaning Tip #2: Go with the Grain

Stainless steel, like wood, has a grain. Examine the striations on your appliance’s surface and wipe in that direction, beginning at the top and working your way down.

Wipe and scrub your stainless steel surfaces with brushed or polished finishes in the direction of the metal’s “grain” lines.

Stainless Steel Cleaning Tip #3: Better with Age

According to the ESDA, in addition to an increasing number of fingerprint-proof finishes, regular stainless steel shows fewer fingerprints over time. Patience is a quality.

Stainless Steel Cleaning Tip #4: Stainless Solutions

The key on how to clean stainless steel appliances is consistency. Remain consistent, most cleansers do not blend well together, making it much more difficult to keep perfect. You may use CLR, a stainless steel cleaner to clean stainless steel appliances and any stainless steel surface. It will remove hard stains of water and from the water and ice dispensers, as well as any drips or food.

Because chloride-containing products can harm the protective finish of your stainless steel, the ESDA recommends using the following:

• Baking soda (to remove coffee deposits)
• Diluted vinegar (to remove and for cleaning limescale)
• Chloride-free glass sprays (especially efficient for polished, mirror-like surfaces)
• Alcoholic solvents, such as acetone (to remove adhesives)
• Commercially manufactured pastes and sprays that specify use on stainless steel

Stainless Steel Cleaning Tip #5: Naturally Clean

To clean using pantry items, damp a clean cloth or a microfiber cloth with undiluted white vinegar or olive oil and wipe it in the direction of the grain of your stainless steel.

Pouring dish soap with warm water and club soda on an absorbent cloth or a microfiber cloth to scrub, then wiping dry, is suggested for cleaning your stainless steel sink or any stainless steel surface is the most basic way to clean it.

Stainless Steel Cleaning Tip #6: Shine On

Spray cleansers designed specifically for cleaning decorative stainless steel surfaces typically contain silicone oil, and while they remove fingerprints and smudges, they do not prevent them. The silicone oil can be completely removed by washing with mild soap and warm water.

Another method to keep appliances gleaming is to use with a polishing paste. Commercially available pastes, such as 3M Marine Metal Restorer and Polish, will leave a microscopic wax layer on the surface, making cleaning easier. Because the pastes are detergent resistant, treatment with a polishing paste can last for several months. It can be removed with a soft cloth and alcohol.

Pastes and sprays designed for cleaning decorative elements — refrigerator doors, kitchen backsplashes, and other types of appliances — should not be used on pots, pans, or surfaces where food is prepared.

Silver dip polishes, such as those used to clean jewelry, are corrosive to stainless steel and should be avoided.

Brittany Corporation as the Premium Standard of High-End Residential Communities

With elegant and fashionable luxury houses, lot-only properties, and condominiums in some of the best locations in the Philippines, Brittany is the gold standard of high-end residential communities.

In some of the most exclusive neighborhoods in the Philippines, such as La Posada in Sucat, Crosswinds Tagaytay, Portofino in Alabang, Promenade, and Georgia Club in Santa Rosa, Laguna, Brittany offers a high standard of living.

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People will spend a lot of time in their bathrooms, whether they like it or not. Aside from being a place to clean one’s body, the bathroom can also feel like a safe haven. For example, in a shower, one can stand naked, thinking about his problems or his next business move. Self-care enthusiasts may also consider spending some quality alone time in the bathtub with warm water or with hot water and sipping a drink and watching a movie. Depending on their confidence levels, this is even where people are comfortable looking at their insecurities or checking themselves out in the mirror.

When considering all of the things and thoughts that go on in there, the importance of the bathroom cannot be overstated. A fantastic bathroom can be a great asset to one’s home because it can improve one’s lifestyle and impress guests and in-laws.

A Guide to a Clean and Shiny Bathtub

If your bathtub was not used for a long time, the bathtub needs to be cleaned. It’s a chore that looms large, usually because the tub itself looms large in any bathroom. It also appears to necessitate a lot of scrubbing, leaning over, and generally contorting yourself into a few odd positions. While cleaning the bathtub will never be completely painless, there are some tricks you can use to make it easier to have a clean bathtub and keep it shiny for a longer period of time.

Before you begin cleaning, you might need to determine first determine the type of finish on your tub. Porcelain, enamel, acrylic, or fiberglass are the most common tub finishes. It’s one of the latter two if the finish looks like plastic. If your tub is made of a unique material, such as stone or copper, consult the manufacturer for cleaning instructions to learn how to clean from top to bottom.

1. Cleanser Choices

There are numerous cleansers on the market to clean the tub with, as well as popular homemade solutions. The best alternative to clean a bathtub with a paste that is made out of equal parts of warm water and a cup of baking soda and let it sit for a few minutes is suitable for any type of tub and works particularly well on soap scum.

Aside from that, the finish of the tub influences what you use. For a porcelain finish, which is by far the toughest surface, you have more options to clean the tub with, with vinegar-based solution. A mixture of a bit of Dawn with vinegar and a scrub pad does a pretty good job on tub soap scum. Microfiber rags and water work well on a clean tub.

And if you choose a commercial cleanser, read the label carefully, because even a few seemingly gentle lotion-like cleansers can be abrasive. A cleanser with a mildly abrasive component is appropriate for porcelain and enamel finishes. Acrylic tubs scratch easily, so only use nonabrasive cleaning products on them.

2. Stain Treatments

Acrylic. Acrylic finishes win in this category because the finish itself repels stains. If you have soap scum and build-up stain on an acrylic or fiberglass surface, use 12 to 23 cups of clear dish soap mixed with 2 cups of hot water to remove it. If that doesn’t work, make a paste of cream of tartar and hydrogen peroxide or a cup of baking soda and warm water, but test it first in a low-visibility area and let it sit for a few minutes. Some swear by using an inexpensive plain white toothpaste (no brightening agents or added features) to remove the build-up stains and soap scum.

Enamel. Enamel finishes are also more delicate and will be stained by bleach. Instead, use the same solutions as described above for an acrylic finish.

Porcelain. For years, bleach has been a go-to stain remover for porcelain tubs, but it can eventually wear down the finish. Begin with a baking soda and water solution. For soap scum, a dishwashing liquid solution works well. If the stain is caused by hard water, make a solution of vinegar and water and spray it on the stain. You may need to use a commercial rust remover to remove rust stains.

If none of these work on a porcelain finish, a pumice stone, Magic Eraser, or commercial stain remover would be the next step. To save wear and tear on the finishes, begin with the least abrasive options. Some stains, particularly on older tubs with worn or damaged finishes, may never be removed. In that case, reglazing might be a viable option.

Caution: Never mix bleach and ammonia.

3. Tub Cleaning Technique

It’s time to face the tub once you’ve decided on a cleanser. Begin by removing everything from the edges to create a clean slate.

After that, you need to treat any stains. Then, using your preferred cleanser, apply the paste in a circular motion or spray the cleanser into the tub and on the entire surface, beginning at the rim of the tub and working your way down. And let it sit for a few minutes, and clean the surface of the bathroom.

After the cleanser has had time to work for a few minutes, scrub the tub’s sides and bottom, beginning at the top and working your way down. Choose a soft or microfiber cloth for the least abrasive approach. Or if you have a soft-bristled scrub brush or one of the longer-handled shower and tub scrubbers designed to relieve back strain are other options.

If you have an acrylic tub, use a nylon cloth or scrubber to avoid scratching the surface. Cleaning around the drain and other tight surfaces are made easier with an old toothbrush.

The next step is to thoroughly rinse the tub, either with the shower nozzle or with a bucket of clean water down the drain. This practice is frequently overlooked but crucial. While leaving a cleanser on for an hour is acceptable, leaving it on for a week can permanently damage the finish of the tub. Also, clean and rinse the shower doors to remove down the overspray from the cleanser.

And finally, thoroughly dry the entire tub with a clean, soft cloth (microfiber works well) so that it shines.

4. Preventive Practices

Perhaps the most important step in maintaining a clean tub is what you do after cleaning to minimize future problems, particularly the ever-present soap scum. All experts agree that wiping down the tub and drying it after each use goes a long way toward keeping it looking good — and reducing your cleaning time is the best way to clean.

And switch to a bath gel because the talc in bar soap creates the scum. But if you feel like not switching, use a hard soap instead.

Live Luxe and Shiny with Britany!

When it comes to purchasing a new home or remodeling an existing one, the bathroom should be one of the top priorities because it can significantly improve the lives of those who use it. A family should invest in rooms that are used on a daily basis, which is why bathroom interior design and having a clean and shiny bathtub are critical for having a luxury home that can make everyone feel great and comfortable.

Trends come and go, but the ones listed here have stood the test of time and will look fantastic in your bathroom this year. Go get a house and lot for sale from Brittany Corporation and feel free to make all of your luxury bathrooms dreams a reality.

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What’s your Favorite Spot at Home?

A good luxury houses in the Philippines, particularly those built by Brittany Corporation, have well-designed living rooms, dining areas, kitchens, comfort rooms, and bedrooms. These luxury homes make it difficult for homeowners to choose their favorite neighborhood. However, each of us has a favorite room in the house to which we devote the majority of our time, effort, and resources to use and do something.

According to a survey, 10% of the respondents said their favorite part of their homes is the kitchen, and because people have been stuck at home for the last two years, they have had more time to think about how they can manage, change, and improve their kitchens. More than just renovation, turning your kitchen into a clean and tidy space will always be on the agenda.

A Guide to Having a Sparkling Clean Kitchen

There is a lot that goes on in a kitchen. It makes no difference how big or small it is because it is where meals are prepared that feed the bodies and nourish the souls of everyone in the family. The kitchen is where most family and friend gatherings take place, and where food, drinks, and good conversations are all made. However, the kitchen has always been run and dressed up as one of the most important parts of the house.

Who has the extra time to keep their kitchen sparkling clean at all hours of the day? But a clean kitchen, on the other hand, always adds a nice boost to the day. It can make you feel like all of your dirty laundry doesn’t matter because you can find a clean coffee cup, and there’s no junk on the countertops.

During the holidays, your kitchen most likely saw a lot of activity. Nobody knows how the mashed sweet potato splatter ended up on a wall and on the ceiling. But that mess only indicates that a thorough cleaning is required. With the help of this article here, we’ve gathered a selection of cleaning instructions that, when followed, will leave your floors, counters, and other surfaces looking spotless, and you’ll never find yourself in an overwhelming mess again!

1. Empty your Sink For A Sparkling Clean Kitchen

Before you start cleaning anything, make sure there are no leftovers in the dishwasher. Put them away if there are any. This way, you’ll have enough dishes for everyone and room for more later.

Suggested read: Kitchen Countertop Colors To Choose

And f it’s late at night, and you’re almost ready to go to bed, at the very least, clear your sink. No need to wash the dishes! Simply rinse and stack. There’s something about an empty sink that makes a rushed morning nth times easier.

Stacking dishes creates the illusion of order and control, regardless of whether they have been washed.

2. Clean your Countertops For A Sparkling Clean Kitchen

The first major step is to thoroughly clean your countertops. In many homes, the kitchen counter serves as a catch-all for anything that doesn’t have a place. Mail, receipts, things you use, pots and pans, and a bottle of water can all end up on your kitchen counter.

There’s no denying it, the counters get filthy quickly. As a result, cleaning this area is an important part of cleaning the kitchen.

To speed up this process, it’s best to tackle it in four steps for cleaning:

• Take out the trash

Take the garbage can and place it in a convenient location where you can easily throw things away.

• Put dirty dishes in the sink

Now that you’ve gotten all of the trash out of the way, find all of the dirty dishes and place them in the sink.

For cleaning the sink, fill it with hot water and soap to soak your dishes while you clean the counters. (We’ll put them in the dishwasher later.)

• Put away small appliances

When the kitchen counter is cluttered with small appliances, it appears cluttered.

If you have one of these appliances such as waffle makers, electric skillets, and other type of kitchen appliances, they take up a lot of room. You won’t have any counter space to work with if you don’t have a place for them.

If you have a toaster and coffee maker, of course, it can remain to your counter because you use them every day. Keeping the rest out of sight will improve the appearance of your kitchen.

• Wipe down countertops

At this point, nothing should be left on your countertops that do not belong there.

You should put any leftover items, such as mail or a stray battery, back to the proper place where they belong.

3. Sweep and Mop the Floor For A Sparkling Clean Kitchen

The floor is the last thing to be cleaned. Sweep and then mop the floor.

You need to use a steam mop instead of a traditional mop if you don’t want to wait for the floor to dry after mopping. This method not only saves time but also kills any bacteria on the floor.

4. Spot Clean For A Sparkling Clean Kitchen

You need to use a soapy clean rag to clean the fixtures in the kitchen. Such as the fingerprints on the cabinet doors or smudges on the light switches. These can be removed with a quick wipe.

And the backsplash behind the stove is another problem area that usually requires spot cleaning. Its entire purpose is to protect your walls from bubbling pots of delicious goodness.

5. Wipe Down Appliances For A Sparkling Clean Kitchen

To remove any sticky fingerprints or splattered food, you need to wipe down the front of all of your appliances in the kitchen.

Wipe the front of your refrigerator and pay special attention to the handles.

Wipe down the front and the top of the stove as well. Make a point of cleaning the knobs and handles as well.

The top, front, and even the inside of the microwave should be cleaned. Microwave interiors become very dirty, and if you wait too long to clean them, they will begin to smell bad.

The blender, toaster, and other appliances will also benefit from a quick wiping.

Take one more look around the kitchen. Did you overlook anything? Did anything go unnoticed? Take care of them right away. And when everything has passed inspection, take out the trash and place all dirty rags or towels in your laundry room.

When it comes to your kitchen, following a simple routine can make all the difference in the world. If you only have a few minutes, keeping things tidy will only take a few minutes. There’s no need to spend two hours deep cleaning!

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Live Sparkling and Luxurious with Brittany!

Have you already owned a luxury real estate property? This is your time to check out now Brittany Corporation’s house and lot properties for sale that will excite you to put these amazing luxury kitchen appliances into your kitchen.

The most beautiful houses in the Philippines under Brittany Corporation might have these sparkling and clean kitchen. You could not say that one is better than the other unless you were able to try and have your experience.

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