So, what the is the difference then between a bolo (machete) and a dedicated fighting sword (Espada)?
First and foremost, the bolo is actually an agricultural tool, it is used throughout the Philippines for just about any agricultural or working task you can think of, however there are a few systems that use it purely as a dedicated weapon, and many of those have a tendency to be very small methods.
Systems such as those of the Presas family, and Lightning Scientific have a relatively short curriculum on the bolo. Though known primarily for being stick arts, these systems look at the bolo as a weapon of convenience since they are readily available; so, the bolo is a tool and a weapon of convenience while the sword is primarily a dueling/fighting weapon.
Even though there is a great deal of overlap in techniques existing between an Espada, bolo, and even a knife, sword systems are more specialized (based on blade type) with a much longer curriculum.
I am most familiar with the Modern Arnis and Kombatan methods of play involving a bolo and a knife. So, instead of trying to explain all of these in writing please subscribe to my YouTube channel Bladefiles coming soon. I will be doing a quick video on these topics and a wide variety of other topics.
The first picture below is of a fighting ginunting sword with guard, and below it, as a comparison, a Batangas made bolo style ginunting.
The second picture is of a Sansibar style fighting sword blade with dragon head pommel and matching dagger. Underneath it is a bolo made by the same smith, which is an agricultural tool.