Section 13
SEC. 13. As a condition of the granting of this temporary permit the grantee shall execute a bond in favor of the Government of the Philippines, in the sum of twenty thousand pesos, in a form and with sureties satisfactory to the Secretary of Commerce and Industry, conditioned upon the faithful performance of the grantee's obligations hereundcr during the first three years of the life of this temporary permit. If, after three years from the date of acceptance of this temporary permit, the grantee shall have fulfilled said obligations or soon thereafter as the grants shall have fulfilled the same, the bond aforesaid shall bi cancelled by the Secretary of Commerce and Industry.