Monthly Archives: July 2024

The rainy season in the Philippines, spanning from June to November, brings a host of challenges, from heavy downpours and flooding to landslides and storm surges. As a tropical archipelago, the country is particularly vulnerable to typhoons and other weather-related hazards and as such, safety during the rainy season is crucial to protecting lives and property.

Because of this, we at Pacific Union would like to share some essential tips on how to stay safe, including preparation measures, and emergency responses, which aim to help residents navigate the often unpredictable and severe weather conditions typical of this time of year.

Stay Informed

One of the best ways to stay safe during this rainy season is to stay informed and keep up-to-date with the latest happenings. Tune in to your local TV or radio station, check the Internet for credible news, and read the latest reports from your local authorities. At the same time, take note of all the necessary hotlines in the event of an emergency. 

Avoid Flooded Areas

Another safety measure is to avoid flooded areas whether on foot or driving your vehicle. Stay clear of flood water as it can contain hidden hazards or contaminants that can lead to disease and poor health.

Drive Safe

While on the road, make sure to drive at a reasonable and safe pace for the safety of you, your passengers, and other motorists. Remember to stay cautious, especially during times when the weather can lead to little to zero visibility as these can hinder your vision and lead to potential collisions.

Prevent Disease

The rainy season can increase the risk of waterborne diseases such as cholera, dysentery, hepatitis A, typhoid, and more. To prevent such illnesses, drink only clean and filtered water and avoid at all costs food that has been exposed to floodwaters. Staying vigilant at situations like these can help avoid a trip to the hospital. 

Emergency Kits

Last but not least, make sure to have emergency kits or go-bags ready for urgent situations. Ready items such as your cellular phone, first-aid kit, flashlight, non-perishable food, and other essentials you might need in the event of an emergency. 

Judicial Bond Explained

A judicial bond is a class of surety bonds that is required by the Courts and/or administrative bodies clothed with quasi-judicial powers in connection with the judicial proceedings before them. Most of these are continuing in nature as they cannot be canceled unless the Courts declare otherwise.

Heir’s Bonds

An heir’s bond guarantees the protection of any heir or person who has been deprived of his lawful participation in the estate and/or any creditor who has a claim against the estate which has not been paid. It is posted by the known heirs who seek to distribute the registrable properties under their respective names. 

This bond also has several key functions and liabilities. The first is to allow the transfer of registrable properties to the transferee while the second is to answer for the share of the disenfranchised heir. 

Contact Us Today

To know more about surety bonds and their basic definitions, check out our previous article on surety bonds as we provided an overview for them. We’ll also be discussing the topic of customs bonds in the near future! But if you would like to know even more, feel free to contact us at our various social media platforms, website, email, and landline. 

Definition of Customs Bond

As the name implies, a customs bond is a bond issued in favor of the Bureau of Customs in accordance with the Revised Tariff and Customs Code of the Philippines or orders issued by the Commissioner of Customs. 

Purpose of Customs Bond

Customs bond is required principally to protect government revenue, insure the collection of customs duties, internal revenue taxes, and other charges due on imported articles, and compliance with the rules, regulations, and orders promulgated by the Commissioner of Customs in connection with the importation and warehousing of such articles, and the collection of duties, taxes and other charges due thereon.

Classifications of Customs Bond

a) Ordinary or Single Shipment Bond

This class of customs bond is required to cover a single transaction or articles imported under one shipment only.

Example: Ordinary Re-Export bond which covers only one shipment of imported articles.

b) General Bond

This class of customs bond is required to cover numerous transactions or articles imported under several shipments made within a certain period of time, usually one calendar year. This is specifically authorized by the Tariff and Customs Code, to wit:

Section 3504. “General Bonds, When Required – In cases where bonds are required to be given under the provisions of the Customs and Tariff Laws, the Collector, instead of requiring separate special bonds where the transactions of a particular party are numerous, may accept general bond extending over such periods and covering such transactions of the party in the questions as shall be satisfactory to said Collector.”

c) Chargeable Bond

This form of general bond covers numerous importations or transactions or entries within a certain period, except that the liquidation of any entry is chargeable against the bond and the canceled portion of the bond is re-usable by the importer in his subsequent before expiration of the bond.

Example: General Bond for Bonded Manufacturing Warehouse