Anent the issue of illegal dismissal, it is petitioners contention that Cortina was not illegally dismissed, rather his contract of employment has been terminated due to the sale of the vessel on which Cortina was embarked. x x x We do not acquiesce in the contention of petitioners. The dismissal of Cortina constitutes discharge without cause. As correctly ruled by the regional arbiter, the agency has not introduced any evidence showing that transfer of ownership of the vessel where complainant was assigned is a justifiable reason for the termination of his contract of employment. (Rollo, 36) When there is no showing of a clear, valid and legal cause for the termination of employment, the law considers the matter a case of illegal dismissal and the burden is on the employer to prove that the termination was for a valid and authorized cause. (Cosep vs. National Labor Relations Commission, 290 SCRA 704 [1998]). xxx WHEREFORE, the petition is DISMISSED. SO ORDERED. Petitioner filed a motion for reconsideration but it was denied by the Appellate Court, in a Resolution dated November 14, 2000. In the instant petition for review on certiorari, petitioner ascribes to the Court of Appeals the following errors: (1) in sustaining the NLRCs finding that the subsequent submission of the original copy of the appeal bond and the joint declaration of its genuineness did not cure the defect of the appeal; (2) in ruling that the sale and/or transfer of the vessel is not a valid cause to terminate respondents employment; and (3) in upholding the NLRCs monetary award to respondent equivalent to his salary for the unexpired portion of the employment contract instead of his one (1) month basic wage. We agree with the Court of Appeals. The posting of appeal bond and submission of a joint declaration on its genuineness is mandatory.Pertinent are Sections 4(a) and 6 of Rule VI of the NLRC Rules of Procedure, as amended by Resolution No. 01-02, Series of 2002, thus: SECTION 4. REQUISITES FOR PERFECTION OF APPEAL. (a) The Appeal shall be filed within the reglementary period as provided in Section 1 of this Rule; shall be verified by appellant himself in accordance with Section 4, Rule 7 of the Rules of Court, with proof of payment of the required appeal fee and the posting of a cash or surety bond as provided in Section 6 of this Rule; shall be accompanied by a memorandum of appeal in three (3) legibly typewritten copies which shall state the grounds relied upon and the arguments in support thereof; the relief prayed for; and a statement of the date when the appellant received the appealed decision, resolution or