G.R. No. 189563. April 7, 2014
MAIN TOPIC – Interest
- One Virtual purchased from Gilat various telecommunications equipment at a total purchase price of US$2,128,250.00. To ensure the prompt payment of this amount, it obtained defendant UCPB General Insurance Co., Inc.’s surety bond in favor of Gilat.
- GILAT shipped and delivered to One Virtual the purchased products and equipment for which payment was secured by the surety bond.