CONTRACT

This Contract made and executed by and between: ____________________________, a corporation organized and existing under the laws of the Philippines, with principal office at _______________________________________________________, represented in this act by its duly authorized Attorneys-in-Fact, ___________________________________________ (hereinafter referred to as the Owner) and ________________________________________, acorporation organized and existing under the laws of the Philippines with principal office at _____________________________________________________, represented by its President & General Manager, _____________________________________ (hereinafter referred to as the Contractor) Sets Forth That: The Owner desires the following work to be constructed: ___________________________________________________, (hereinafter called the Contract Works) at __________________________________________________________ (hereinafter called the Site) and has caused Drawings, Specifications and Bills of Quantities to be prepared showing and describing the work to be done. The Contractor has agreed with the Owner for the supply of labor, supervision, equipment and tools for undertaking the construction of the Contract Works based on a fixed profit at the amount of Php One Million Five Hundred Thousand and 00/100 (Php1,500,000.00) under the terms and conditions specified herein and in the Contract Documents. The Owner has agreed to reimburse to the Contractor all its expenses for the supply of labor, supervision, equipment, tools and other incidental cost for undertaking the construction of the Contrcat Works based on Annex A - Schedule of Rates as attached on this Contract. NOW THEREFORE, for and in consideration of the foregoing premises, the Owner hereby accepts the proposal of the Contractor to undertake the proper construction and timely completion of the Contract Works at the Site under the terms and conditions specified herein and in the Contract Documents. 1. Contract Documents: The Contract Works shall be commenced and completed in accordance with the terms and conditions for the Contract Documents enumerated below. In the event of any inconsistency or conflict between or among them, the Contract Document shall have the following order of priority: a. b. This Contract; Technical Specifications; For Construction Drawings;

e.

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f.
g. h. 2.

UAP Document 301; and Contractors Schedule of Rates attached as Annex A to this Contract Other Bid Documents Scope of Contract Works: 2.1 2.2 The Contractor shall undertake the construction of the Contract Works in strict compliance with the Contract Documents, which are integral parts of this Contract. The Contractor shall handle, store and protect from damages, test, install and commission in accordance with the Contract Documents the required Owner furnished materials for the Contract Works. The Contractor shall maintain in the Project Site competent supervisors and registered engineers, at least one of them shall be authorized Contractors representative who shall be available at all times to coordinate with the Owners representative. The Contractor shall, in addition to the specific requirements of the Contract Documents, submit the following to the Owner before final payment shall be made by the Owner to the Contractor: a. One (1) set of reproducible and three (3) sets of prints as As-Built Drawings; b. Original and a copy of the Certificate of Final Acceptance of the Contract Works; c. A Sworn Affidavit that all wages and salaries of its staff and employees and all indebtness in connection with the Contract Works, including but not limited to claims from or credits to suppliers, subcontractors and other creditors of the Contractor, have been fully paid and settled; provided that in case of any unpaid claim or credit, the quit claim or release of waiver has been duly executed by the concerned suppliers, subcontractors or creditors in favor of the Owner. d. Any document related to the Contract Works required for purposes of obtaining the necessary construction permits which will be procured by the Contractor. 3. Owner-Furnished Materials 3.1 All materials are to be supplied by the Owner.

2.3

2.4

3.2

The Contractor shall, within twenty one (21) days of this Contract, furnish the Owner detailed delivery schedule in respect of these Owner-Furnished Materials. Thereafter, the Contractor shall provide the Owner with bimonthly (every fifteen days) updates to said delivery schedule in a request. The Contractor shall be responsible for ensuring the correctness of information and the timely delivery of said materials at designated site/ areas.
Revolving Fund

4.

The Owner at his option and as agreed upon with the Contractor shall release to the Contractor a revolving fund at the amount of ___________ for the purchase of materials immediately needed for the project to be liquidated by the Contractor from the Owner on a weekly basis upon presentation of invoices, official receipt and other valid proof of expendses for

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5.

Contract Period and Milestone Dates: Tthe works shall be commenced (hereinafter called Commencement Date), executed within the preagreed milestone dates and shall be completed (hereinafter called the Completion Date) as stated below, all in accordance with mutual agreement and the conditions of Contract: Commencement Date: Completion Date: _________________ _________________

6.

Contract Price: For and in consideration of the construction and completion of the Contract Works in accordance with the Contract Documents, the Owner shall pay the Contractor a fix profit at the amount of PHILIPPINE PESOS: ONE MILLION FIVE HUNDRED THOUSAND & 00/100 ONLY (PHP 1,500,000.00) under the following terms and conditions: a. The foregoing Contract Price shall be inclusive of 12% value-added tax (VAT). The foregoing Contract Price shall not be subject to any adjustment. The Owner agreed to pay the Contractor the foregoing Contract Price on tranches as detailed below; i. ii. iii. iv. Php _____________ upon signing of this Contract Php _____________ ___ months after Day 1 of this Contract Php _____________ ___ months after Day 1 of this Contract Php _____________ upon completion of the Contract Works

b.
c.

7.

Bonds and Insurances: (Optional) 7.1 The Contractor shall obtain and submit the following bonds and insurances: i. Performance Bond, to be obtained equivalent to _______________________________________, callable upon demand without recourse in favor of the Owner which shall be valid up to one (1) year after Commencement Date of the Project;

ii. Contractors All-Risk Insurance (CARI) equivalent to the total project cost in favor of the Owner which shall be valid up toi (1) year after Commencement Date of the Project.

7.2

All insurances required should be obtained by the Contractor and all its premium payment should be reimbursed by the Owner to the Contractor upon submission of its policy and proof payment..

8.

Permits: The obtaining and costs for securing all necessary construction permits shall be borne by the Owner.

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9.

Project Management Team: During the Contract Period, and subject to the Contract Documents, the Owner may select person or entities to be his representative.

10.

Notices: For purposes of the Contract Documents, the parties shall send written notices required hereunder and thereunder to the above stated addresses. Both parties may change the persons authorized to receive notices and communications and such change shall take effect only on the date of receipt of a notice in writing by one party to the other.

11.

Other Terms and Conditions: 11.1 The Contract Document shall be formed and executed based on the following principle and conditions:

a. Liquidated Damages shall be computed at ______________________ for each day of delay

but not to exceed _______________.

b. Tthe Contractor shall, within fourteen (14) days of the date of commencement identified
herein, furnish a Master Construction, Procurement Program, Organizational Chart, Construction Methodology for the Owners approval. However, such approval shall not relieve the Contractor from their responsibility or default arising out from such approval. c. The Contractor shall indemnify and hold harmless the Owner, its agents and employees from and against all claims in respect of any negligence/ omission, damages, losses and expenses in case of litigation arising out of the Contractors performance of the work herein. d. The other terms and conditions under which the Contract Works shall be constructed and completed are provided in the other Contract Documents which form an integral part of this Contract, and to which reference should be made by the Contractor and Owner for their other respective rights and obligations. IN WITNESS WHEREOF, the parties have hereunto set their hands this ______________ at ______

__________________________________ Owner By:

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__________________________________

___________________________________ Contractor

By:

SIGNED IN THE PRESENCE OF:

__________________________

__________________________

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ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES MAKATI CITY, METRO MANILA

) ) S.S.

BEFORE ME, a Notary Public for and in Makati City, personally appeared before me the following: Name __________________________ Owner Represented by: __________________________ _________________ _______________________ Evidence of Identity Date/Place Issued

_________________ _______________________

to me and by me known to be the same persons who executed the foregoing instrument composed of (10) pages including the page on which this Acknowledgement appears and they acknowledged to me that the same is their free and voluntary act and deed, in the capacities in which they appeared and that of the corporations which they represent. IN WITNESS WHEREOF, I hereunto set my hand and affix my notarial seal on the date and place above written.

Doc. No. _________________; Page No. _________________; Book No. _________________; Series of 2011.

ACKNOWLEDGMENT

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REPUBLIC OF THE PHILIPPINES MAKATI CITY, METRO MANILA

) ) S.S.

BEFORE ME, a Notary Public for and in Makati City, personally appeared before me the following: Name __________________________ Contractor Evidence of Identity Date/Place Issued

_________________ _______________________

Represented by: __________________________ _________________ _______________________

to me and by me known to be the same persons who executed the foregoing instrument composed of (10) pages including the page on which this Acknowledgement appears and they acknowledged to me that the same is their free and voluntary act and deed, in the capacities in which they appeared and that of the corporations which they represent. IN WITNESS WHEREOF, I hereunto set my hand and affix my notarial seal on the date and place above written.

Doc. No. _________________; Page No. _________________; Book No. _________________; Series of 2011

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