Bonds / Surety
Before an Insurance Company can issue Government bonds or acts as Surety in an undertaking It must have an administrative order issued by the Office of the President of the Philippines and Our Company acquires that AO No. 244 issued May 31, 1957 and signed by the late President Carlos P. Garcia.
A contract of agreement between three parties the INSURER or SURETY guarantee the faithful performance by another party called the PRINCIPAL of an obligation or undertaking in favor of the OBLIGEE
And to name some we have Bidders Bond, Performance Bond, Surety Bond, Judicial (Civil, Heirs Administrators, Guardians) and Fidelity Bonds
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