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Bond
y
Treasury Circular
No. 02-2009
7
TERMS
BTr
Bureau of Treasury
agency under the Department Finance
(DOF) that provides fidelity bond to
all accountable public officers.
8
TERMS
AGDB
Authorized Government
Depository Bank
refers to a government bank duly
authorized by the Bangko Sentral ng
Pilipinas (BSP) e.g. POSTBANK
9
TERMS
CTOO
Chief Treasury
Operations Officer
refers to the unit head of the BTr
District/Provincial Office.
10
TERMS
ATAP
Authority to Accept
Payment
- refers to the form issued by the Bureau of
the Treasury to the applicant used for
presentation to the AGDB authorizing the
receipt of payment of bond premium
11
TERMS
TOP
Treasurer of the
Philippines
refers to head of the BTr and the officer
authorized to issue the implementing rules
and regulations on the Public Bonding Law.
12
GENERAL
PROVISIONS
13
4.1 Public Officers Covered
Every officer, agent, and employee
whenever the nature of the duties
GENERAL performed by such permits or requires :
PROVISIONS a. possession
b. custody or
c. control
of funds or properties for which he is
accountable, be deemed a bondable
officer and shall be bonded.
14
4.4 Accountability for Public Property
- based on money value in case
GENERAL of improper or unauthorized use or
PROVISIONS misapplication
- shall be liable for all losses,
damages or deterioration due to
negligence in the keeping or use of
the property, whether or not it be, at
the time of such loss, damage or
deterioration, in his actual custody.
15
4.6 Money & Property Accountability
GENERAL
PROVISIONS An accountable public officer who
has both money and property
accountability shall be bonded only
once to cover both accountabilities.
16
4.9 When Considered Bonded
▪ Upon payment of the bond premium
▪ Valid and effective at the time of
GENERAL payment and receipt of bond
PROVISIONS premium by the AGDB. The
accountable public officer shall
submit to the BTr DO/PO a copy of
the AGDB validated deposit slip
and ATAP as proof of payment of
bond premium, after which the
Confirmation Letter shall be
issued.
17
4.10 Effect of Approved Bond
An approved fidelity bond shall be:
a.) non-transferable
b.) personal
GENERAL
c.) remain valid and effective
PROVISIONS
for one (1) year from the time of
payment and receipt of the bond
premium.
d. ) Shall be subject to
renewal yearly before the expiration
of the present bond coverage
*Failure to renew shall consider such bond as automatically
cancelled and shall have no legal effect. 18
4.12 Effect of Cancellation
For any cause allowed, the
cancellation will limit the liability of the
GENERAL
PROVISIONS fidelity fund to the transactions within
the period covered up to the time of
its cancellation.
The bond premium paid for the
accountable public officer whose bond
is cancelled shall not be transferrable
and not refundable.
19
FIRST TIME OR
NEW
APPLICATION
20
7.1 Procedure for Application
22
PROCEDURE 7.1.8 Unsafe Risk - The concerned
FOR CTOO II shall evaluate the bond
APPLICATION
application to determine if the
applicant is a safe and conservative
risk in accordance with Sec. 320 of
the PBL.
23
RENEWAL
24
7.2 Procedure for Renewal
The fidelity bond shall be renewed
PROCEDURE before the expiration of the bond.
FOR RENEWAL Duplicate copies of General Form Nos.
a.) 57A (Request Form)
Together with :
b.) 2 copies Authenticated copies
SALN with POSITIVE NETWORTH
(subscribed and sworn)
c.) 5 copies of List of Bondable
Officials certified by the Agency Head
(Annex E) 25
PROCEDURE
FOR RENEWAL Surrender the previous
Confirmation letter of the
previous approved bond
26
INCREASE FOR
ACCOUNTABILITY
27
7.2 Procedure for Increase of Accountability
Any increase in the amount of
PROCEDURE FOR
accountability, resulting to an increase in
INCREASE OF the amount of bond shall be subject to
ACCOUNTABILITY increase in premium.
Duplicate copies of General Form No.
a.) 57A (Request Form)
b.) Special Order increasing the
amount of accountability
c.) 5 copies List of Bondable Officials
certified by the Agency Head (Annex E)
28
ADJUDICATION
AND PAYMENT
OF CLAIM
AGAINST THE
FIDELITY FUND
29
8.1 Application for Relief from Accountability
31
ADJUDICATION 8.2 Effect of Relief from Accountability by COA
AND PAYMENT
OF CLAIM The relief from accountability
AGAINST THE granted by the COA shall relieve
FIDELITY FUND the agency from responsibility for
the loss or damage to public funds
or property.
32
8.3 Fidelity Fund; When Liable
ADJUDICATION
AND PAYMENT When no relief of accountability is
OF CLAIM granted by COA, the agency
AGAINST THE concerned may file claim for
FIDELITY FUND reimbursement from the Fidelity
Fund to the extent of the approved
bond covered or amount of loss
whichever is lower.
33
POSTBANK
34
ANNEX A
35
ANNEX B
36
ANNEX C.1
37
ANNEX C.2
38
SPECIAL
ORDER
39