Republic Acts1 min read
Section 8Sec./Art. 8
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Bond. - The grantee shall file bond issued in favor of the National Telecommunications Commission, which determine the amount, to guarantee compliance with and fulfillment of the conditions under which this franchise is granted. If after three (3) years from the date of the approval of its permit by the Commission, the grantee shall fulfill the same, the bond shall be cancelled by the Commission. Otherwise, the bond shall be forfeited in favor of the government and the franchise revoked.
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