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EILER agrees that for and in consideration of the faithful performance by the
Contractor of this contract, he shall pay the contractor under the following payment
scheme:
PERIOD
AMOUNT
PERCENTAGE
REMARKS
The Contractor has agreed that the construction fo the project will be completed within
_________ working days excluding Sundays and Holidays from the date of receipt of
the downpayment or issuance of Building Permit whichever comes earlier.
ARTICLE 10. SAFEGUARD
The Contractor shall provide safeguards and other facilities for the protection of EILER
personnel and the general public. The Contractor shall be responsible and hold EILER
harmless from all losses, expenses, judgments, court costs, attorneys fees, demands,
payments, suits actions, recovery decrees, execution , and any other claim of whatever
nature and description brought and/or recovered against the Contractor through the
fault and negligence of its builders, agents, laborers and employees
The Contractor shall be responsible for, and shall bear all costs and expenses caused
by possible losses and damages to the property due to fire, and injuries (including death
resulting therefrom) that may be accidentally sustained by any individual due to the
same, by virtue of the fault and negligence of the Contractor or its employees, or in
connection with the execution of the work covered by this contract
ARTICLE 11. ESCALATION CLAUSE
It is agreed that the Contract Price is already fixed and is not subject to escalation of
increase in taxes, licenses, permits, materials, inflation and devaluation of the Philippine
Currency. However in the event that there is any government mandated increase in the
minimum wage of workers, adjustment shall be made on the contract price for the
remaining scope of work.
IN WITNESS WHEREOF, the parties hereto have executed this Contract on the day
and year above-written.
_____________________________
ANNA LEAH ESCRESA-COLINA
Executive Director
CONTRACTOR
______________________
Witnessed by:
___________________________
______________________
ACKNOWLEDGEMENT
Name
CTC/ID Number
Date/Place Issued
(Name)
(Name)
Known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged to me that the same is their free and voluntary act and
deed.
This instrument consisting of ____ page/s, including the page on which this
acknowledgement is written, has been signed on each and every page thereof by the
concerned parties and their witnesses, and and sealed with my notarial seal.
WITNESS MY HAND AND SEAL, on the date and place first above written.
Notary Public
Doc. No.______;
Page No. ______;
Book No.______;
Series of 20___.