Republic Acts1 min read
Section 2Sec./Art. 2
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The grantee shall file a bond in the amount of Fifty thousand pesos (P50,000) to guarantee the full compliance and fulfillment of the conditions under which this franchise is granted. If after four (4) years from the date of the approval of this Act, the grantee shall have fulfilled said conditions, or soon thereafter, the aforesaid bond shall be cancelled by the Philippine Government, otherwise, it shall be forfeited in favor of the State.
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