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Memorandum of Agreement
Memorandum of Agreement
This CONFIDENTIAL AGREEMENT is made and entered into this 2 nd day of May ,
2022 at BQPC main office Magallanes, Davao City, by and between.0
- And -
WITNESSETH:
WHEREAS, the First Party is willingly to award the project to the Second party
as the Sub-contractor provide that the Second Party shall give the requested amount of
Three Million Eight Hundred Forty One Thousand Five Hundrd Eighty Three and
60/100 Pesos(3,841,583.60 Pesos) to the First Party as buy-out payments of the
Construction of Bridge, Purok 3, Barangay Pandaitan Paquibato District, Davao
City .
1. Give the full authority to the Second Party for the implementation of the
project.
2. Expedite the process of the 15% Mobilization down payment of the total
project
cost from DPWH.
3. Assist and process every billing transaction to the DPWH in behalf of the
Second Party.
4. Transfer the payment immediately to the Second Party’s bank account once
the
Payment has been received by the First Party from the DPWH.
WHEREAS, the Second Party shall execute the remaining percentage of the
agreed percentage buy out payment(%) to First Party upon every billing.
WHEREAS, the First Party will manage to maintain the good relation to the LGU
existing officers where the location of the proposed project is located. Their obligation is
to final the BOQ preparation for DPWH approval.
That this AGREEMENT is fully agreed and apprehended by all Parties;
IN WITNESS WHEREOF, each of the parties affixed the signatures this 2 nd day
of May at BQPC main office 2 nd Floor Valgosons City Hall Drive, Davao City,
Philippines;
_________
Authorized Representative
___ ___
Sub-contractor
Sub-contractor
______
Sub-contractor
____________________ ____________________
____________________ ____________________
____________________ ____________________
____________________ ____________________
Doc. No._________
Page No. ________
Book No. ________
Series of 2022