MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS

This Memorandum of Agreement (MOA) is made and executed by and between:

ST. FRANCIS XAVIER COLLEGE, INC. (SFXC), a duly recognized higher education
institution of San Francisco, Agusan del Sur by the Commission of Higher Education (CHED)
under recognition no. DNO91005833 dated June 10, 2000, represented by the Executive Vice
President for Operations, JENNY C. ABUCEJO of legal age, single and herein referred to as
the College and the FIRST PARTY;

and

The Rural Bank of Cantilan, also known as Cantilan Bank (CANBNK), operates as a rural
bank, extending its services to more than 100 underbanked communities across 12 provinces in
Mindanao and the Visayas. CANBNK responded to the challenges posed by the pandemic by
implementing a dynamic platform and having a prepared digital roadmap, the implementation of
which was expedited to better adapt to the new environment. In 2021, CANBNK received
approval from the BSP for the License to Operate as an Electronic Money Issuer – Bank (EMI-
Bank). One of its branches is located in Prosperidad, Agusan del Sur, represented by ARIEL B.
PAMA, hereinafter referred to as the SECOND PARTY.

WITNESSETH:

That, the FIRST PARTY is offering a degree in Bachelor of Science in Business

Administration which requires students to undergo 300 hours of Supervised Industry Training
(SIT) that are to be trained by experts in different areas of Finance and or Marketing as part of
the Internship/On-the-Job Training of the course;

That, SFXC is presently in need of partner establishment/office that could further

enhance the necessary knowledge, skills and experience of its students taking up Bachelor of
Science in Business Administration;

That, the SECOND PARTY is willing, ready, and proficient to accommodate for
Internship of the Business Administration students of the FIRST PARTY;

FOR AND IN CONSIDERATION OF THE FOREGOING PREMISES AND

STIPULATIONS, the parties referred herein affirm to strengthen the partnership in enhancing
the necessary knowledge, skills, values and attitude of students taking Bachelor of Science in
Business Administration, especially in the conduct of Supervised Industry Training (SIT).
Furthermore, the parties mutual agree on the following terms and conditions:

ST. FRANCIS XAVIER COLLEGE shall:

1. Assign ___Bachelor of Science in Business Administration students to:
a. Have the opportunity to observe, learn, and do office related tasks in a real work
setting;
b. Be given the chance to have exposure in the different office division/department
of the company and evaluate the Finance/or Marketing as basis for their written
output;
c. Produce and present a journal of internship describing their experiences on
internship/OJT activities and their recommendations to the management of the
HTE and SFXC Business Administration program;
d. Work in Host Training Establishment (HTE) on off-class session as an Intern/On-
the-Job Trainee;
e. Report for a conference in the school at scheduled time;
 2. Conduct pre-internship orientation/training to student interns, as a prerequisite to their
deployment to internship venues, on work environment issues, including, but not limited
to, proper work ethics and laws against sexual harassment.
3. Monitor the performance of the trainee during the entire period of Internship.
4. Provide necessary technical assistance to the students and coordinate with the
manager/head of the Host Training Establishment (HTE) while they are on training.
5. Ensure that trainees comply with the necessary requirements set by the SFXC Business
Administration Program and the Host Training Establishment.
6. Take appropriate action on any complaint against the student intern/on-the-job trainee in
accordance with the SFXC policies.
7. Ensure confidentiality of HTE information gathered by the student trainees.
8. Shall adhere to the HTE’s guidelines, policy, and rules and regulations pertaining to its
business operations and work standards.

_______________________________________________ agrees to:

1. Accommodate ____ ( ) BSBA students of SFXC and provide them with relevant work
experience aligned with Business Administration;
2. Designs and implement the internship/On-the-Job Training (OJT) plan in partnership
with SFXC.
3. Provide the necessary guidance and technical assistance in all activities to be undertaken
by the trainees relative to the implementation of specified functions.
4. Orients the student intern on the standard rules and regulations of their establishment
before signing of contract. Internship Program shall last only not more than five (5)
months maximum period.
5. Enters into an internship contract/agreement with the student intern with prior
understanding that this internship programs does not oblige the HTE to pay any salary or
allowance under the viewpoint of the Labor Law (No Employer-Employee
Relationship);
6. Encourages student interns to develop their personality and professionalism, and to the
extent possible, protect them from physical or moral danger.
7. Develops feedback mechanism to student intern/OJT.
8. Develops feedback mechanism to HEI of the overall implementation of the internship and
the student performance through the assigned Internship Coordinator.
9. Notifies and provides at least 30 working days written notice to the SFXC of a student
intern’s breach of contract or misconduct in the internship premises prior to HTE’s
decision to suspend or terminate the contract; and
10. Issues certificate of completion for the student interns not later than two weeks after the
completion of internship/OJT.

LIABILITIES:

The student-trainee and/ or their respective guardians will be personally responsible for
any and all liabilities for damage to property or injury to persons, which may be occasioned by
the intentional or negligent acts of the students-trainee in the course of the On-the-job training
program.

NON DISCLOSURE OF CONFIDENTIAL INFORMATIONS

“Confidential Information” is proprietary information relating to Host Training

Establishment’s (HTE) business including but not limited to: business and financial records,
intellectual property, proprietary data, security measures, or any other financial information that,
if disclosed, could affect the business of HTE. Confidential information, if written, will be
labelled as confidential.

OJT of ST. FRANCIS XAVIER COLLEGE (SFXC) shall not: (a) disclose Confidential
Information to any third party; (b) make or permit to be made copies or other reproductions of
Confidential Information; or (c) make any commercial use of Confidential Information.

DATE OF EFFECTIVITY, RENEWAL, AMENDMENTS, AND/OR TERMINATION

This agreement shall take effect immediately upon signing of this document by the
parties concerned and shall remain in force until _____ 2024. Renewal shall be agreed by the

Page 2 of 4
parties concerned. Amendment or termination will be done anytime upon the mutual consent of
both parties IN WITNESS WHEREOF, the parties hereto have set their hands this __ day of
___ 2024 at San Francisco, Agusan del Sur, Philippines.

FIRST PARTY: SECOND PARTY:

JENNY C. ABUCEJO ARIEL B. PAMA

Executive Vice President - Operations Bank Manager
St. Francis Xavier College, Inc. Rural Bank of Cantilan Inc.
San Francisco, Agusan del Sur Prosperidad, Agusan del Sur

WITNESSES:

CHERRY MAE I. POSTRADO, MBA

BSBA Program Heads
St. Francis Xavier College, Inc.
San Francisco, Agusan del Sur

IAN P. ABUZO, CPA, MAIA

Dean, College of Business Education
St. Francis Xavier College, Inc.
San Francisco, Agusan del Sur

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

San Francisco, Agusan del Sur ) s.s.
x - - - - - - - - - - - - - - - - - - - - - - - - -/

BEFORE ME, a Notary Public for and in the above jurisdiction, on __________________,
personally appeared the following:

CTC No. Gov’t Issued I.D. Card No.

Name Date/Place issued (with picture & signature) as
Competent Evidence of Identity
JENNY C. ABUCEJO
(In her capacity as EVP -
Operations of
St. Francis Xavier College)
ARIEL B. PAMA

Represented to me to be the same persons who executed the foregoing MEMORANDUM OF

AGREEMENT and they acknowledged to me that the same are their free and voluntary act and deed and
of the entity represented herein.

WITNESS MY HAND AND SEAL this _______________ at ______________, Philippines.

NOTARY PUBLIC

Doc. No. ______;

Page 3 of 4
Page No. ______;

Book No. ______;

Series of 2024.

Page 4 of 4