REPUBLIC OF THE PHILIPPINES )

CITY OF ______________________) S.S.

AFFIDAVIT OF CORPORATE UNDERTAKING

I, NAME I. SURNAME, of legal age. Filipino, with office address at 12345 Dr. GPS
Ave., Brgy. KoTo, City, after having been duly sworn to in accordance with law, hereby
depose and state that:

1. I am the duly authorized representative of COMPANY INC., a domestic

corporation duly organized and existing under and by virtue of the laws of the
Republic of the Philippines with principal place of business at 12345 Dr. GPS
Ave., Brgy. KoTo, City;

2. COMPANY INC., (“PRINCIPAL”) secured a performance bond from

INSURE INSURANCE CO., INC. (“SURETY”) to guarantee the performance
of our obligation under the contract we entered into with the GLOBAL
POWER CORPORATION (“OBLIGEE”)

3. I confirm that COMPANY INC.’s entered into a contract with the OBLIGEE,
referenced as CONTRACT NO. PSM 2022-01-521-NYU, for the One (1) Year
Supply of Skilled/Semi-Skilled Manpower and Allied Services for Various
Global Power Corporation’s Offices and Facilities;

4. I GUARANTEE that there is NO KNOWN LOSS at the time of the issuance of

the mother policy Bond No. G (23)-1234567 on November 16, 2022, and its
endorsement BD-G(23)-HO-23-00000123-00 issued on December 1, 2022;

5. I UNDERSTAND and ACCEPT that the SURETY is obliged to immediately

pay the OBLIGEE the full amount stated in the bond within fifteen (15) days
from receipt of notice of demand from OBLIGEE despite any objection from
the PRINCIPAL;

6. I UNDERTAKE TO PAY the SURETY within ten (10) days from payment to
the OBLIGEE, without need of demand, subject to the following terms and
conditions:

i. Upon receipt of the demand from OBLIGEE, the SURETY shall

send a written notice to the PRINCIPAL of such demand;

ii. Subsequently, the PRINCIPAL shall immediately pay and satisfy

the amount stated therein within fifteen (15) days from notice
thereof despite any objections and/or different position or stand
by the OBLIGEE on the demand;

iii. If the SURETY be compelled to pay the obligation of the

PRINCIPAL from OBLIGEE, the SURETY shall have a right of
immediate reimbursement within ten (10) days from payment;

iv. Non-payment or delay in the payment shall cause the obligation

to incur penalty at a rate of 0.03% of the total sum insured per
day of delay or 12% of the total sum insured per annum until
payment is made.

v. This undertaking shall have an effect of a valid and binding

contract.

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 7. That I am executing this Affidavit to attest to the truth of the foregoing
statements and I hereby waive any right whatsoever to contest the validity,
enforceability and/or effectivity of this document.

IN WITNESS WHEREOF, I am affixing my signature this _________ day of

__________ 2022 in City of Manila, Metro Manila.

NAME I. SURNAME
Affiant

SUBSCRIBED AND SWORN TO BEFORE ME, this ______ day of _________ 2022 at
Manila City, Metro Manila, Philippines. Affiant Exhibited to me his/her
________________________ with No. ___________________ as competent proof of
identity.

Doc. No. __________;

Book No. __________;
Page No. __________;
Series of 2022.

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