PCIB definition
Examples of PCIB in a sentence
Since the Republic did not exercise its right to claim against the PCIB Letter of Credit No. 38-001- 183617, nor compelled Kawasaki to perform the unfinished work of FFMCCI, Kawasaki could not claim indemnification from CCCIC.
The Surety and Performance Bonds do not contain any condition that CCCIC would be liable only if, in addition to the default on its undertakings by FFMCCI, the Republic also made a claim against the PCIB Letter of Credit furnished by Kawasaki, on behalf of the Kawasaki-FFMCCI Consortium.
Contracts in which one of the parties imposes a ready-made form of contract, which the other party may accept or reject, but which the latter cannot modify (PCIB v CA, GR No. 97785 [29.03.96]).