SEC. 175. A contract of suretyship is an agreement whereby a
party called the surety guarantees the performance by another party
called the principal or obligor of an obligation or undertaking in favor
of a third party called the obligee. It includes official
recognizances, stipulations, bonds or undertakings issued by any company
by virtue of and under the provisions of Act No. 536, as amended by Act
No. 2206.
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026
CitationPD 612 (The Insurance Code) Section 175 (LawPlayer, data as of July 4, 2026)
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
