- Legal Background
- Product Details
- Relative Industry
- Competitor Information
- Member Statistics
- AGCIA Insurance
Guarantee insurance is based on the laws and regulations of a country. Thus, setting up an appropriate legal framework would be a prerequisite to promote related industries further. The Philippines is equipped with a well-developed foundation for the guarantee insurance industry, and this is partly because the country adopted the guarantee system from the US.
Below are the key laws and regulations which set forth the elements constituting the Philippines’ guarantee insurance industry.
- Insurance Code
- Implementing Rules and Regulations
- The Government Procurement Reform Act
- Others (Construction Laws, Tariff and Customs Laws etc.)