Republic Acts1 min read
Section 10Sec./Art. 10
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Posting of Performance Bond. - The grantee shall file a bond in the amount of Three hundred thousand pesos (P300,000), Philippine Currency, to guarantee the full compliance and fulfillment of the conditions under which this franchise is granted. If after two (2) years from the date of approval of this Act, the grantee shall have fulfilled said conditions, or soon thereafter as the grantee shall have fulfilled the same, the bond aforesaid shall be cancelled and returned by the government.
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