- In addition, to insure third parties of payment, in case damage or injury is done to their person or property during the course of the performance by the PROPONENT of its responsibilities hereunder, the PROPONENT shall put up bonds and insurance normally required in infrastructure PROJECTs, such as but not limited to contractor's all-risk insurance, third party liability insurance, motor vehicle liability insurance, workmen's compensation insurance.
Certified copies of the policies and official receipts of such bonds and insurances shall be submitted to the LGU. These bonds and insurance shall preferably be procured from the Government Service Insurance System (GSIS), but if it is impractical to do that, then they shall be procured from an insurance or bonding company accredited by the Insurance Commission and acceptable to the LGU.