PD 87 Section 16

Performance guarantee.

Section 16

SEC. 16. Performance guarantee. — In order to guarantee compliance with the obligation of me Contractor in contracts executed under this Act, the Contractor shall post a bond or other guarantee of sufficient amount in favor of the Government and with surety or sureties satisfactory to the Petroleum Board, conditioned upon the faithful performance by the contractor of any or all of the obligations under and pursuant to said contracts. IMPLEMENTING A GENCY

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Other provisions in PD 87

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 87 Section 16 (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).

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