Republic of the Philippines )

Baguio City ) S.S.

COMPROMISE AGREEMENT
[With Waiver, Release and Quitclaim]

KNOW ALL MEN BY THESE PRESENTS:

This COMPROMISE AGREEMENT [With Waiver, Release and Quitclaim], executed this _ in Baguio City, by:

_, of legal age, Filipino, and residing at _, hereinafter referred to as the FIRST PARTY; and

_, of legal age, Filipino, and residing at _, hereinafter referred to as the SECOND PARTY;

WITNESSETH:

WHEREAS, the FIRST PARTY and the SECOND PARTY has been involved in a vehicular accident on _ at _
being the drivers of _ with plate number _, and _ with plate number _, respectively;

WHEREAS, the vehicle of the _ PARTY incurred unestimated damages while the _;

WHEREAS, both parties are desirous of settling amicably the incident thereby avoiding long and costly
litigation;

NOW, THEREFORE, in consideration of the foregoing premises, the parties hereby undertake as follows:

1. The FIRST PARTY shall give the sum of _ (P_) PESOS, Philippine Currency in favor of the SECOND PARTY to
answer for all damages which he may have sustained due to said accident;

2. The parties agree to release each other from any liability resulting from this incident, and agree not to
file any case against each other arising from the same facts.

3. This agreement was the result of a negotiated settlement and may not be construed as having been
prepared by any one party. This agreement is intended to bind the parties, their heirs, agents, assigns, and
successors in interest.

Parties have signed this _ of November 2019, in Baguio City, Philippines.

_ _
FIRST PARTY SECOND PARTY

_________________________ witnesses _________________________

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in Baguio City, this_, personally appeared the parties who
exhibited to me their respective competent evidence of identification as appearing below their respective
names and signatures, known to me to be the same persons who executed and voluntarily signed this
COMPROMISE AGREEMENT which they acknowledged before me as their free and voluntary act and deed.

WITNESS MY HAND AND SEAL on the date and at the place first above-written.

Doc. No. ___;

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