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PCSO
PCSO
1. The AACs shall deposit with the PCSO a cash bond equivalent to 3
months of the PCSO’s share in the GMMRR, on top of their existing cash
bond;
2. Upon failure to timely and fully remit their GMMRR during the duration of
the operation, the AAC’s cash bond, equivalent to 3 months of the PCSO’s
share in the GMMRR, shall be automatically forfeited in favor of PCSO,
without prejudice to the other remedies that my be exercise by the
government;
3. Each AAC shall execute a written undertaking that if shall comply with its
obligations under the STL Agency Agreement and will not institute any
claims, monetary or otherwise against the government and/or apply for a
temporary restraining order or injunction from any court to prevent the
government of exercising its rights and prerogatives; and (the AACs are
required to waive their right to obtain a Temporary Restraining Order
(TRO) against the government)
The foregoing conditions shall be applied to other AACs that maybe allowed to
resume operations. It is understood that all STL AACs that will be allowed to
resume operations will comply with the signed and sign new STL Agency
Agreements in accordance with the terms and conditions of the new STL
implementing rules and regulations upon the issuance thereof.