MEMO

RANDUM OF AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This Agreement entered into this ___ day of __________________ at
Camp Aguinaldo, Quezon City by and between:
METROGUARD SECURITY AGENCY CORPORATION a private
institution existing under Philippine laws, with office address at Interior 2, Dayang
St., Brgy. 793, Sta. Ana, Manila, represented by its General Manager,
MS. MILAGROS CHAN, hereinafter referred to as the METROGUARD
SECURITY AGENCY CORPORATION
- and ARMED FORCES AND POLICE MUTUAL BENEFIT ASSOCIATION,
INC., a corporation duly organized and existing under Philippine laws, with
principal office address at the AFPMBAI Building, Col Bonny Serrano Road
corner EDSA, Quezon City, represented herein by its Head, Sales and
Operations Group COL EDMUNDO F GAMMAD PAF (RET), hereinafter referred
to as the AFPMBAI.
Collectively, both AFPMBAI and METROGUARD SECURITY AGENCY
CORPORATION, are hereinafter referred to as the PARTIES.
WITNESSETH; THAT:
WHEREAS, personnel and employees of METROGUARD SECURITY
AGENCY CORPORATION desire to become associate members of the
AFPMBAI in order to avail of the latters products, benefits, services, and
privileges, such as but not limited to: life insurance, real estate housing
privileges, educational benefits, and loan facilities which are exclusively for
members only;
WHEREAS, the AFPMBAI is willing, able to provide the said insurance
coverage and welfare benefits, and has accepted for associate membership
employees and personnel of METROGUARD SECURITY AGENCY
CORPORATION, who are SECURITY GUARDS, ROTC/WATC/CMT Graduates
and RETIRED AFP/PNP/PCG/BFP/BJMP Personnel;
NOW, THEREFORE, for and in consideration of the foregoing premises,
the PARTIES hereby agree as follows:
1. Only regular employees of METROGUARD SECURITY AGENCY
CORPORATION who are SECURITY GUARDS, graduates of
ROTC/WATC/CMT
and
RETIRED
AFP/PNP/PCG/BFP/BJMP
PERSONNEL are eligible to become associate members of the
AFPMBAI.
2. As associate members of the AFPMBAI, the abovementioned personnel
of METROGUARD SECURITY AGENCY CORPORATION are entitled to
enjoy the products, services, benefits, and privileges of membership,
such as, but not limited to: life insurance, salary loan, real estate housing
and real estate mortgage loans, and other financial products subject to
the usual and applicable company policies and procedures.

3. METROGUARD SECURITY AGENCY CORPORATION agrees to

provide its personnel the facility of Automatic Payroll Deduction for the
payment to AFPMBAI of their insurance premiums and other related
loan obligations upon their individual authorization and consent
evidenced by the Authorization to Deduct (ATDs) based on the terms
and conditions of the insurance policies, and loan agreements executed
for that purpose.
4. METROGUARD SECURITY AGENCY CORPORATION undertakes to
effect timely, complete, and accurate deduction of premiums, payments,
and loan amortizations from the monthly salary of concerned employees
until the end of the insurance premium payment period or loan repayment term and shall not unilaterally stop or cancel deduction without
the written consent of AFPMBAI.
5. METROGUARD SECURITY AGENCY CORPORATION undertakes to
remit to AFPMBAI amounts deducted for the month on or before the
___th day of the following month. In case of discrepancy between what
was deducted from the employee and remittance to AFPMBAI,
METROGUARD SECURITY AGENCY CORPORATION shall be liable to
its employees for the premiums/amortizations which had already been
deducted from the payroll but had not been duly remitted to AFPMBAI in
accordance with this provision. AFPMBAI shall base its Official Receipt
only on the amount/s actually remitted. AFPMBAI shall held be free and
harmless from any liability related thereto.
6. If in the future, there would be priority of deductions from the salary of
METROGUARD SECURITY AGENCY CORPORATION employees,
METROGUARD SECURITY AGENCY CORPORATION shall undertake
to include its employees account/s with AFPMBAI in its priority list.
7. The obligations to effect payroll deduction shall continue during the
effectivity of this Agreement, unless a contrary instruction is given by
AFPMBAI or when the concerned
METROGUARD SECURITY
AGENCY CORPORATION employee resigns, retires or his service is
otherwise terminated. Upon the occurrence of any of the above events,
METROGUARD
SECURITY
AGENCY
CORPORATION
shall
accordingly notify AFPMBAI not later than thirty (30) calendar days from
the date of occurrence of the said event.
8. Employees of METROGUARD SECURITY AGENCY CORPORATION
with insurance coverage and loan obligations with AFPMBAI shall, upon
termination of employment with the former be required to obtain
clearance from AFPMBAI certifying that they have no pending
obligation/s or that arrangements had been made for the payment
thereof..
9. The AFPMBAI shall maintain at all times the confidentiality of
information on METROGUARD SECURITY AGENCY CORPORATION
personnel who are its members.
10. Both PARTIES reserve the right to review this Agreement and
accordingly amend the same upon concurrence of both PARTIES
through an Amendatory/Supplemental Contract executed for this
purpose.
11. The provisions of this Agreement and any amendatory/supplemental
contract they may be executed relative herewith shall bind the assigns
and successors-in-interest of the PARTIES.

IN WITNESS WHEREOF, the PARTIES have hereunto affixed their

signatures on the date and at the place first above written.
METROGUARD SECURITY

ARMED FORCES AND POLICE

AGENCY CORPORATION

MUTUAL BENEFIT ASSOCIATION

INC. (AFPMBAI)

by:

by:

MS. MILAGROS CHAN

COL EDMUNDO F GAMMAD PAF (RET)

General Manager

Head, Sales and Operations Group

CTC No. ______________

Issued at ______________
On

Retired Officer ID No.__________

CTC No. ____________
Issued at ____________
On
____________

Signed in the presence of:

_____________________

____________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

S.S.
QUEZON CITY, METRO MANILA )
Before me, this __________ day of _______________2014 the above
named persons showed competent proofs of identities as indicated in the IDs
written below their names, known and identified to be the same persons who
executed the foregoing instrument and acknowledged to me that the same is
their free and voluntary act and deed and of the offices they each represent.
WITNESS MY HAND AND SEAL.
Doc. No.
Page No.
Book No.
Series of 2015.