MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

That hisMICHAEL
Engr. RODUARD MEMORANDUM OF AGREEMENT entered into by and between:
C. BUSTILLO
RFB Construction Corporation
RFB CONSTRUCTION CORPORATION, a corporation organized and
existing under and by virtue of the laws of the Republic of the Philippines with
its main office address at P-1A, Bacolod St., Upper Doongan, Butuan City,
represented herein by its Vice President for Operations/Chief Operating
Officer, Engr. RODUARD MICHAEL C. BUSTILLO, duly authorized for this
purpose hereinafter referred to as the FIRST PARTY;
-and-
_____________________________________, a corporation organized and
existing under Philippine laws with principal office at
________________________, represented herein by its owner,
_______________________, hereinafter referred to as the SECOND PARTY;

WITNESSETH that:

WHEREAS, the FIRST PARTY is a licensed contractor engaged in both

horizontal and vertical construction projects procured by private and public institutions;

WHEREAS, the SECOND PARTY is a construction materials supplier and had

been regularly supplying for the FIRST PARTY’s construction projects.

WHEREAS, the PARTIES entered into this agreement to expedite and streamline
the purchasing of all construction materials and supplies transacted between the parties.

NOW, THEREFORE, for and in consideration of the foregoing premises, the

partiesJUAN
heretoDE LAand
agree CRUZ
covenant with each other as follows:
Davao Golden Hardware Inc.
I. PURCHASE ORDERS (PO). The PARTIES agree that:

1. The SECOND PARTY or its authorized representatives shall affix its signature for
all the FIRST PARTY’s POs at least TWO HUNDRED THOUSAND PESOS (Php
200,000.00) in value. In case the PARTIES’ offices are not within a single city,
they shall facilitate the signing through electronic means, the procedure of which
shall be agreed upon in writing by the PARTIES after executing this contract.

2. For all POs less than TWO HUNDRED THOUSAND PESOS (Php 200,000.00),
the oral agreement as expressed on the existing POs shall be binding without the
need of the SECOND PARTY’s signature, instead, an electronic acknowledgment
of such PO sent through email, social media platforms, or through other
electronic means by the SECOND PARTY shall suffice.

3. The PO shall serve as the contract shall be binding between the parties for that
specific order and delivery.

II. PRICE CHANGES. The PARTIES agree that the SECOND PARTY shall notify, in
writing, the FIRST PARTY at least seven (7) days from the expected date of the price
increase. If there is no reasonable opportunity to notify the FIRST PARTY, the existing
PO corresponding to the original agreed price shall remain binding.

III. DELIVERY, INSPECTION, AND ACCEPTANCE. The PARTIES agree that:

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Memorandum of Agreement
Davao Golden Hardware Inc
 1. The SECOND PARTY shall faithfully deliver the articles of the PO in the agreed
place and time. In the absence thereof, it shall be delivered at the project site
which requested the said materials.
Engr. RODUARD MICHAEL C. BUSTILLO
2. Upon delivery, the FIRST PARTY or any of its authorized representatives shall
RFB Construction Corporation
have thirty (30) calendar days after its proper receipt to inspect the materials and
either accept or reject them as non-conforming with the standards of the
procuring agency.

3. Acceptance of the delivered items shall be deemed to occur on the date when, in
the reasonable opinion of the FIRST PARTY, the delivered items conform to the
stipulated specification.

4. The SECOND PARTY agrees that the FIRST PARTY’s payment shall not be
deemed as an acceptance of any materials delivered under the PO, nor shall any
acceptance by the FIRST PARTY will release the SECOND PARTY from any
warranty or other obligations of the PO.

5. Title to the articles of the PO shall pass to the FIRST PARTY only when they are
delivered, inspected, and accepted by the FIRST PARTY. The risk of loss, injury,
or destruction of the materials shall be borne by the SECOND PARTY until the
title passes to the FIRST PARTY.

6. Any liabilities arising from the mistake in delivery, before acceptance, shall be
borne by the SECOND PARTY. If it was later found that there was a mistake in
delivery, and the articles were only accepted due to the fault or negligence of the
FIRST PARTY’s representative engineer, the said representative shall be liable
to the FIRST PARTY.

JUAN DE LA This
IV. EFFECTIVITY. CRUZ Memorandum of Agreement shall be enforced from the
Davao Golden
execution of this Hardware Inc.shall only be terminated upon mutual agreement of the
Contract and
PARTIES.

V. CONTINUITY. This agreement shall continue to be operational through the Purchase

Orders subsequently executed by the parties, respectively.

VI. SEPARABILITY CLAUSE. In case one or more of the provisions contained in this
Agreement will be declared invalid, illegal, or unenforceable, the validity, legality, or
enforceability of the remaining provisions contained `herein, insofar as still consistent
with the declared purposes of the parties, shall not in any way be affected or impaired
thereby.

VII. ARBITRATION. The PARTIES agree that any dispute or controversy of any kind
whatsoever between the FIRST PARTY and the SECOND PARTY which may arise out
of or in connection with this Agreement shall be referred to the Department of Trade and
Industry nearest to the FIRST PARTY at the exclusion of all venues.

IN WITNESS WHEREOF, the parties have signed this Agreement at Manila City,
Philippines, this __th day of _______________ 2022.

RFB Construction Corporation Davao Golden Hardware Inc.

First Party Second Party
By: By:

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Memorandum of Agreement
Davao Golden Hardware Inc
 ______________________________ ___________________________________
RODUARD MICHAEL C. BUSTILLO JUAN DE LA CRUZ

Signed in the Presence of:

Engr. RODUARD MICHAEL C. BUSTILLO
____________________________ ___________________________
RFB Construction Corporation

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

In the City of BUTUAN . . . . . . . . . . . ) S.S.

BEFORE ME, a Notary Public for and in the city of Butuan, this ___th day of
___________ 2022, personally appeared:

NAME I.D. No. Place of Issue

TIN No.
Roduard Michael C. Bustillo Butuan City
441-493-863

Juan De La Cruz

both known to me to be the same persons who executed the foregoing instruments and
they both acknowledge before me that the same is their free and voluntary acts and
deeds and those of the corporations and/or entities which each of them respectively
represents.

This instrument consists of three (3) pages including this page wherein this
acknowledgment has been signed by the parties and their instrumental witness on every
page thereof.
JUAN DE LA CRUZ
Davao Golden Hardware Inc.
WITNESS MY HAND AND SEAL on the page and at the place first above
written.

NOTARY PUBLIC
Page No. _______;
Doc. No. _______;
Book No. _______;
Series of 2022

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Memorandum of Agreement
Davao Golden Hardware Inc