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(NAR) VOL. 22 NO. 3, JULY - SEPTEMBER 2011
[ IPO OFFICE ORDER NO. 151, S. 2011, September 09, 2011 ]
POSTING OF SURETY BONDS IN INTELLECTUAL PROPERTY RIGHTS VIOLATION (IPV) CASES
WHEREAS, under the Rules and Regulations on Administrative Complaints for Violation of Laws Involving Intellectual Property Rights, as amended ("IPV Rules"), the posting of bond is required, among other things, for the issuance of injunctions and/or temporary restraining orders;
WHEREAS, Rule 5, Sec. 3 of the IPV Rules provides that the posting of surety bond in lieu of cash bond shall be governed by the appropriate guidelines that may be issued by the Intellectual Property Office of the Philippines.
NOW, THEREFORE, the posting of surety bond in lieu of cash bond in IPV Cases shall be allowed subject to the following conditions:
1. The surety bond shall be secured from the list of insurance companies accredited by the Supreme Court of the Philippines.
2. The surety bond must be submitted to the Bureau of Legal Affairs in accordance with Rule 5, Sec. 3. of the IPV Rules.
3. The surety bond submitted must be accompanied by a certified copy of a valid Certificate of Accreditation and Authority issued by the Supreme Court of the Philippines and other documents showing authority to transact with the judicial, quasi-judicial and administrative bodies or agencies.
This Office Order takes effect fifteen (15) days after publication in a newspaper of general circulation. Three (3) certified of this Office Order shall be filed in the University of the Philippines Law Center. One (1) certified copy each, on the other hand, shall be filed with the Department of Trade and Industry, the Senate of the Philippines, the House of Representatives, the Supreme Court of the Philippines, and the National Library.
Adopted: 09 September 2011
(SGD.) RICARDO R. BLANCAFLOR
Director General
WHEREAS, Rule 5, Sec. 3 of the IPV Rules provides that the posting of surety bond in lieu of cash bond shall be governed by the appropriate guidelines that may be issued by the Intellectual Property Office of the Philippines.
NOW, THEREFORE, the posting of surety bond in lieu of cash bond in IPV Cases shall be allowed subject to the following conditions:
1. The surety bond shall be secured from the list of insurance companies accredited by the Supreme Court of the Philippines.
2. The surety bond must be submitted to the Bureau of Legal Affairs in accordance with Rule 5, Sec. 3. of the IPV Rules.
3. The surety bond submitted must be accompanied by a certified copy of a valid Certificate of Accreditation and Authority issued by the Supreme Court of the Philippines and other documents showing authority to transact with the judicial, quasi-judicial and administrative bodies or agencies.
This Office Order takes effect fifteen (15) days after publication in a newspaper of general circulation. Three (3) certified of this Office Order shall be filed in the University of the Philippines Law Center. One (1) certified copy each, on the other hand, shall be filed with the Department of Trade and Industry, the Senate of the Philippines, the House of Representatives, the Supreme Court of the Philippines, and the National Library.
Adopted: 09 September 2011
Director General