Memorandum of Agreement

MEMORANDUM OF AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement, hereinafter referred to as the AGREEMENT, made and
executed by and between:
____________________ a duly organized and existing corporation under
the laws of the Philippines with principal office address at
_________________________________, and represented by its _________________
and hereinafter referred to as “FIRST PARTY”;
-and-
____________________ a duly organized and existing corporation under the
laws of the Philippines with principal office address at
__________________________, and represented by its ____________________ and
hereinafter referred to as “SECOND PARTY”.
WHEREAS, the FIRST PARTY and the SECOND PARTY both have their principal business
address at ________________;
WHEREAS, the FIRST PARTY and the SECOND PARTY finds that there is a need to hire a
security in the entrance gate where their principal business is situated;
WHEREAS, the FIRST PARTY and the SECOND PARTY agreed to hire a qualified security
agency and to share with the expenses of the same;
NOW THEREFORE, and in consideration thereof, all parties hereby agreed to the following
terms and conditions:
I. TERM – The term of this agreement shall be in accordance with the term and/or period provided in
the contract of services entered with Gatling Security &
Investigation Agency, Inc. (“AGENCY”) dated ____________. (A copy of the contract of services is
herein attached as ANNEX “A”)
II. SHARE OF PAYMENT/OBLIGATIONS OF THE PARTIES
a. The FIRST PARTY shall be the one to enter in to a Contract of Services with the AGENCY and the
SECOND PARTY shall share to the monthly fees that will be charged by the AGENCY;
b. The FIRST PARTY shall be liable for the amount of TWENTY FOUR THOUSAND PESOS
(PHP24,000.00) while the SECOND PARTY shall be liable for the amount of THIRTY THOUSAND
PESOS (PHP30,000.00) for the total monthly service fee of FIFTY FOUR THOUSAND PESOS
(PHP54,000.00) due to the AGENCY;
c. The SECOND PARTY shall advance the payment of the monthly service fee to the AGENCY and
after which, the SECOND PARTY, shall bill the above-mentioned amount due to the FIRST PARTY
who shall pay the said amount within FIVE (5) days form receipt of the billing;
d. The FIRST PARTY shall be responsible with the filing of the necessary documents in compliance
with Tax Laws, Rules and Regulations relative with the said agreement;
III. INTEREST/PENALTY – Should the FIRST PARTY fail to pay its share for the monthly service fee within
the period provided for in this agreement, it shall be liable to pay to the SECOND PARTY an amount
equivalent to three percent (3%) of the amount due for each month of delay.
IV. TERMINATION – The Parties may not terminate this agreement until the expiration of the term
provided herein except:
a. By mutual agreement of the parties;

b. Upon lawful order of a competent authority;
c. When due to fortuitous event, the purpose of this agreement is not feasible;
d. Upon termination for any cause of the contract of services with the AGENCY;
V. MISCELLANEOUS
a. This Agreement is strictly for the benefit of the parties hereto and not for the benefit of any
third party. No third party shall be permitted to enforce any term or provision hereof for his, her
or its benefit.
b. The language used in this Agreement and all parts hereof shall be construed as a whole
according to its fair meaning and not strictly for or against any party, and all parties have equally
participated in the preparation of this Agreement.
c. This Agreement states the entire Agreement and understanding between the parties, and
supersedes all prior understandings and agreements.
d. This Agreement shall be binding upon and inured to the benefit of the parties hereto, their
personal representatives, heirs, successors and assigns shall be binding upon any transferee who
has received any assets of the Business transferred out of the ordinary course of business and
any personal representatives, heirs and assigns of such transferee.
e. The invalidity or unenforceability of any provision of this Agreement shall not affect the other
provisions hereof, and the Agreement shall be construed in all respects as if such invalid or
unenforceable provisions were omitted.
f. The proper Courts of Muntinlupa City shall have exclusive jurisdiction over any disputes arising
under or in connection with this agreement.
IN WITNESS HEREOF, both parties herein have hereunto set their hands this ___ day of ________,
______________.
FIRST PARTY SECOND PARTY

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)

___________________________)S.S.
Before me, a Notary Public for and in ____________, Philippines, this _____ day of
______________ personally appeared the following:
NAME GOV’T ISSUED I.D. EXPIRY DATE
Known to me to be the same persons who executed the foregoing THREE (3) pages
MEMORANDUM OF AGREEMENT and acknowledge before me that the same was executed of their own
free, act and deed.
Witness my hand and official seal on the date and place above written.
Doc. No. ___;

Page No. ___;
Book No. ___;
Series of 2019.

Memorandum of Agreement

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MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

II. SHARE OF PAYMENT/OBLIGATIONS OF THE PARTIES

a. By mutual agreement of the parties;

FIRST PARTY SECOND PARTY

REPUBLIC OF THE PHILIPPINES)

NAME GOV’T ISSUED I.D. EXPIRY DATE

Doc. No. ___;

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