A surety bond may also take the form of contract bonds, which include bid bond, performance bond, payment bond, and maintenance bond. Aside from contract bonds, there are also legal bonds and judicial bonds. Meanwhile, some common examples of legal bonds are license and permit bonds, more commonly referred to as commercial bonds. Examples are replevin bond, injunction bond, attachment bond, supersedeas bond in ejectment cases, administrator’s bond, or bail bond in criminal cases. Finally, the Insurance Commission has issued the Rules and Regulations Governing the Issuance of Bonds in the Philippines, which further classified bonds into: judicial civil bonds, judicial criminal bonds, firearms bonds, internal revenue bonds, custom bonds, guaranty bonds, fidelity bonds, promissory notes, and immigration bonds.

Source: Manila Times January 19, 2020 16:11 UTC