MEMORANDUM OF UNDERSTANDING

BETWEEN

NAME OF COMPANY

AND

___________________________________________

DATED THIS ___ DAY OF APRIL 2021

This document serves as a Memorandum of Understanding (herein after referred to as "MOU") made
this _______ day of ________ 2021

BETWEEN

________________________________________, herein referred to as “COMPANY” (which expression

shall where the context so admits include its agents, servants, successors-in-title and legal
representatives) with its office located at ADDRESS, of the other part.

AND

__________________________________________________, hereinafter referred to as the “OTHER

PARTY” (which expression shall where the context so admits include its successors-in-title and legal
representatives) with its office located at ______________________________

• PURPOSE TO THIS MOU:

The purpose of this MOU is to establish a cooperative working agreement between the Financer and the
Other Party, whereby, the Other Party shall provide services to the Financer in the fulfillment of the
project/proposal.
• REASONS FOR THE ESTABLISHMENT OF THIS MOU:

The Company and the Other Party entered into discussion regarding the Projects under the financing of
FADI Group and have agreed to collaborate through this MOU to assure such required services are
available in accordance to the Plan and Budget.

• PROVISIONS

This MOU shall be governed and construed in accordance with the laws of the Republic of the
Philippines.

Further, this MOU in no way restricts the ompanye Other Party from participating in contracts or
arrangements with other public or private agencies or organizations.

• AGREEMENT AND SERVICES

• That the OTHER PARTY shall not assign the benefits of this agreement or subcontract
this obligation under this agreement without the consent in writing of the FINANCER,
which consent may be withheld without good reason.
• That the OTHER PARTY also agrees to adhere to any written policies and procedures set
forth by the FINANCER.
• That the COMPANY shall not be responsible for any expenses including reimbursable
incurred by the OTHER PARTY in the course of carrying out its obligation under this
agreement, except the agreed terms and conditions to the OTHER PARTY, under this
agreement.
• That in consideration of the duties and obligation of the OTHER PARTY under this
agreement, FINANCER shall remunerate the OTHER PARTY a FIXED RATE of 6 % on every
profit /earnings of the project that the COMPANY successfully earned.
• That the percentage profit by the OTHER PARTY will be considered continuous and
uninterrupted throughout the project/business duration.
• The percentage profit due to the OTHER PARTY shall be paid periodically on annual
basis.

• CONFIDENTIALITY

The OTHER PARTY shall maintain high level of confidentiality including but not limited to
customer, supplier, logistical, financial, research and development information of the COMPANY
and shall not disclose them to any third party during and after the termination of this
agreement.

• APPLICABLE LAW

This agreement shall be governed by the applicable laws of the Republic of Philippines.

• DISPUTE SETTLEMENT
 • Any dispute arising in connection with this contract shall be settled in courts of
jurisdiction under the Republic of the Philippines.
• Subject to the above clause, any party who intends to refer the matter for arbitration
shall give the other party notice to take such step.

• TERMINATION

Without prejudice to the rights of either parties to this agreement, any party who wishes to
terminate this agreement shall issue a Notice of intention to Terminate within TWENTY-ONE
(21) Days within which the termination shall become effective.

IN WITNESS OF WHICH the Parties have executed this contract in the manner below day and year first
above written.

The common seal of NAME OF COMPANY is hereunto affixed in the presence of:

COMPANY WITNESS

The common seal of NAME OF PERSONS is hereunto affixed in the presence of:

OTHER PARTY WITNESS