Question & AnswerQ&A (BOT ORDER NO. 01-95)
The purpose is to amend the regulations for the effective bonding of accountable government officials and employees pursuant to Section 50, Chapter IX of Book V of the Administrative Code of 1987.
All officials and employees of National Government Agencies, Government Owned and/or Controlled Corporations, Local Government Units, Self Governing Boards and Commissions, and others who handle funds, property, or accountable forms are covered.
Yes, accountable officials and employees discharging duties abroad are also covered by the bonding requirement.
The Bureau of Treasury Fiscal Examiner IV must report this to the head of the agency, who shall then remove or relieve such official or employee from duties requiring a bond. The decision can be appealed to the Treasurer of the Philippines.
The maximum amount of the bond shall not exceed P4,000,000. If the amount exceeds this, the excess accountability must be transferred to another official who shall also be bonded.
The amount of bond is fixed and approved by the Bureau of Treasury Fiscal Examiner IV in accordance with the Schedule attached and made part of the Treasury Order.
The premium is one percent (1%) of the amount of the bond, payable for one full year. It is deposited with an Authorized Government Depository Bank, with an Authority to Accept Payment issued by the BTr FE IV.
No, cancellation of a bond during its validity does not entitle the agency to a refund of the premium.
All bond premiums collected constitute the Fidelity Fund, which serves as a source for covering defalcations, shortages, and unrelieved accountability after recovery from the accountable official has been exhausted or declared insolvent.
The Fidelity Fund shall not be used to replace fines for criminal convictions, to cover liabilities for estafa committed as a private individual, or to refund accountability for shortages where the bonded official was not removed from duties.
An official's appointment to a bondable position must be reported to BTr FE IV, with application forms (General Form 57(A) and 58(A)) properly accomplished and endorsed, accompanied by sworn statements of assets and liabilities, appointment orders, and proof of payment of bond premium.
They must immediately submit a request for bond cancellation using General Form No. 57(A) to the Bureau of Treasury Fiscal Examiner IV in their assigned province or region.
Officials with supervisory authority over accountable officials must take steps to protect government interests and report shortages promptly to the Bureau of Treasury Fiscal Examiner IV.
No, a bond is personal and not transferable.
Responsible officials or employees may be subject to criminal and/or administrative action.