Republic Acts1 min read
Section 9Sec./Art. 9
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Bond.- The grantee shall file a bond in favor of the National Telecommunications Commission, which shall determine the amount, to guarantee the compliance with and fulfillment of the conditions under which this franchise is granted. If after three (3) years from date of the approval of its permit by the Commission, the grantee shall have fulfilled the same, the bond shall be canceled by the Commission. Otherwise, the bond shall be forfeited in favor of the government and the franchiseipso factorevoked.
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