Isuzu Philippines will refund the safeguard bond from its customers after the Department of Trade Industry (DTI) signed the Department Administrative Order (DAO) 21-04. With that, existing car brands in the country will no longer be required to pay the additional P70,000 or P110,000 for their imported vehicles.
According to their public advisory, all Isuzu dealerships shall return to their customers any security deposits that have been previously collected upon purchase of a specific Isuzu vehicle. The Japanese automaker shall do this by contacting all concerned customers to discuss the claim procedure and schedule for the release of the security deposit.
The process will be straightforward as claimed by Isuzu Philippines. Previously, the brand collected the safeguard duty as a separate deposit which should make it easier for them to settle the refund for its past clients. Whether the customer chose to pay their unit in cash or through financing, the brand will still give back the extra amount paid upon purchase.
In order for them to get the refund, customers are reminded to bring the acknowledgment receipt for the safeguard deposit in order for them to easily trace the original transaction. Take note that the refund for both mu-X and D-MAX buyers is inclusive of the 12% VAT. The Isuzu Travis, on the other hand, is exempted from this granted that it is sourced from Indonesia.
Car brands are slowly conforming with the withdrawal of the DTI safeguard bond. Now, customers will soon take hold of the extra amount paid upon the purchase of their unit. More car manufacturers are expected to follow in the days to come, so stay tuned for more updates.