Dear GABOTAF,
Hi. Ask ko lang po kasi sa barangay po namin may bagong SK Chairman and SK Treasurer. Ano po yun magrerenew na lang po ba sila ng bond o mag-aapply po ng panibago?
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Dear, Sender:
While the following information were lifted from Treasury Circular No. 02-2009 or the Revised Omnibus Regulations Governing the Fidelity Bonding of Accountable Public Officers pursuant to the Public Bonding Law, it is still wise for you to clarify these from the Bureau of the Treasury (BTr).
💡 An approved fidelity bond is non-transferable and personal to the accountable officer.
💡 The approved fidelity bond is effective for one (1) year and subject to renewal before its expiration while the accountable officer is still holding such position for which he/she was bonded.
💡 When the accountable officer is no longer accountable by reason of retirement, separation from the service, promotion, transfer, suspension from office or for any other cause which make them no longer bondable, the fidelity bond shall be cancelled.
💡 To point out, renewal of fidelity bond means the current accountable officer is still there and still required to be bonded.
💡 In your case, you said that you have new SK Chairperson and SK Treasurer. Since the fidelity bond of your former SK Chairperson and SK Treasurer is personal to them and the same is not transferable, in our own personal opinion, the appropriate thing to do is to apply for a new fidelity bond for these new accountable officers.
💡 The Treasury Circular we cited above provides the procedures on how to apply for a new fidelity bond.
💡 Anyway, we thank you for sending us this question. We hope you find our thoughts on this matter helpful and useful.
💡 We will post your question in our Facebook Page and ask our colleagues what are their take on this.
💡 Below is your forum. Please feel free to discuss with us and our colleagues.
This is not a professional advice.
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