You are on page 1of 3

ASSIGNMENT OF SALARY

      This Assignment is made on the 16th day of October, 2021 at Tagbilaran City,
Bohol, Philippines, by and between:

      JAMES A. BOND, Filipino, of legal age with address at J.A. Torralba St.
Tagbilaran City, Bohol, Philippines, (hereinafter referred to as “Employee
Assignor”)

-and-

      SAMUEL L. FORTICH, Filipino, of legal age with address at Jones Avenue,


Cogon District, Tagbilaran City, Bohol, Philippines, (hereinafter referred to as
“Assignee”).

WITNESSETH:  That -

      WHEREAS, in forbearance of a debt and other goods and valuable


consideration, the receipt and sufficiency of which are hereby acknowledge, the
parties agrees as follows:

1. Assignor assigns to Assignee the amount of FIVE THOUSAND PESOS


(Php 5,000.00) per month or other agreed upon period or 20% of his salary, wages,
bonuses, commissions and other compensation or remuneration payable to the
Assignee by his or her primary employer, YY Home Builder Incorporated;

2. Notwithstanding the assignment made, the amount of the Assigned Wages


assigned to the Assignee by the Assignor shall not exceed the maximum amount
permitted to be assigned by the law of the jurisdiction of the place of the
employment of the Assignor and nothing herein shall be construed or interpreted as
affecting an assignment of any greater amount;

3. This Assignment shall continue in full force and effect from the date
hereof to the date upon which the Assignor has repaid in full to the Assignee all of
the debts, liabilities and obligations owing to the Assignee, after which time this
Assignment shall terminate automatically. The Assignee shall have the right to
notify any employer of the Assignor to comply with the terms and conditions of
this Agreement.

4. The Assignment shall be governed by and construed in accordance with


the laws of the Republic of the Philippines where the employee is working;

5. The Assignment will inure to the benefit of the successors and assigns of
the Assignee.

IN WITNESS WHEREOF, the parties hereunto set their hands


nd
this 2 day of October 2021 at the City of Tagbilaran City, Bohol, Philippines.
JAMES A. BOND
Employee/Assignor
ID No. 4556677

SAMUEL L. FORTICH
Assignee
ID No. 3221290

Signed in the presence of:

MARIA A. AGWANTA LUIS U. PADAPLIN

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)


CITY OF TAGBILARAN )S.S.

BEFORE ME, this 16th day of October, 2021 at Tagbilaran


City, Bohol, Philippines, personally appeared the following persons
above together with other two (2) instrumental witnesses with their
aforementioned competent evidence of identity, who are known to
me to be the same persons who executed the forgoing instrument
and acknowledged that the same is their free will and voluntary act.

This Assignment of Salary consists of two (2) pages including


this page in which the acknowledgement is written duly signed by
the parties and instrumental witnesses at the left hand margin
hereof.

WITNESS MY HAND and notarial seal at the date and place


above written.

ATTY ABCD
Notary Public Comm. Until Dec. 31, 2021
For and in the City of ______________ and Province of Bohol
Room 4, _____________ Building, C.P.G. North Ave. ____________. City
NCS. No. 2015-23, Roll No. 23556
IBP No. 37788-Bohol; TIN 056-777-780-000
PTR No. 998079 09/09/20
MCLE Compliance IV-00399, 3/23/21

Doc. No. 112;


Page No. 23;
Book No. XX;
Series of 2021.

You might also like