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CONTRACT AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This Agreement made and entered into by and between:
SPARKS BUILDERS, a single proprietorship duly registered in the Philippines,
represented herein by HARVEY Y. VIJUAN, the Owner/Proprietor, of legal age, Filipino,
single, with office/business address at Brgy. Loboc, Lapuz, Iloilo City, Philippines,
herein referred to as the “FIRST PARTY”;
-and-
ILOILO JAR CORPORATION, a corporation which is duly organized and existing
under Philippine Laws with office/business address at 75 Corner Delgado, Jalandoni
St., Iloilo City, Philippines, represented herein by JASPER JAY P. SANTOS, the Vice-
President, herein referred to as the “SECOND PARTY”;
WITNESSETH:
WHEREAS, the SECOND PARTY is constructing a four (4) storey building to be
known as SANTOS CORPORATE BUILDING at No. 75 Corner Delgado-Jalandoni St.,
Iloilo City.
WHEREAS, the FIRST PARTY desires to construct the said building and submits
the Price Quotation for the supply of labor, supervision and tools/equipment rentals for
the construction of four (4) storey office building with roof deck as follows:
Scaffoldings Supply P 2,800,000.00
Installation of Scaffoldings P 1,680,000.00
Excavation, Hauling and Disposal P 620,000.00
Backhoe Rental P 1,980,000.00
Power Tools and Equipment Rental P 458,787.75
Pile Assist and Lay-out P 40,800.00
Pile Hacking P 102,000.00
Earth Fill with Compaction P 356,400.00
Gravel Bedding with Compaction P 34,560.00
Reinforce Steel Bars (RSB) P12,636,063.99
Form Works/Carpentry Works P 3,634,200.00
Concreting Ready Mix P 3,321,750.00
Masonry Works (4” CHB Laying) P 394,561.80
Masonry Works (6” CHB Laying) P 562,092.00
Wall Plastering P 3,816,850.00
Plastering of all windows, doors, columns, beams edges P 118,500.00
Concrete Spacer (Fabrication & Installation of Various Sizes) P 294,825.00
Safety Signages, PPE P 350,000.00
Miscellaneous P 3,984,166.87
Subtotal P37,185,557.41
Technical Supervision P 7,437,111.48
VAT 12% P 5,354,720.27
Total Cost Inclusive of VAT: P49,977,389.16
Forty-Nine Million, Nine Hundred Seventy-Seven Thousand, Three Hundred Eighty-Nine & 16/100 Pesos Only
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That the SECOND PARTY agrees to accept the price quotation of the FIRST
PARTY in the total cost inclusive of VAT in total amount of FORTY-NINE MILLION,
NINE HUNDRED SEVENTY-SEVEN THOUSAND, THREE HUNDRED EIGHTY-NINE
PESOS AND SIXTEEN CENTAVOS ONLY (P49,977,389.16), to undertake and finish
the construction.
NOW, THEREFORE, for and in consideration of the foregoing premises and
other covenants hereinafter named, the parties hereto agree as follows:
1. TERMS AND CONDITIONS:
1.1) The FIRST PARTY shall perform the following scope of works under strict
accordance with the standards of workmanship and correct procedures.
1.2) Supply of power for power tools and machines to be used for rehabilitation
shall be provided by the SECOND PARTY to the FIRST PARTY or standby
generator if necessary is required on site just encase of power interruption.
1.3) Incidental delays such as acts of God, equipment breakdowns, power
outage and material availability as such, FIRST PARTY shall not be held
accountable for the down time caused by these situations.
1.4). Works not included in the quotation; special orders, and other incidental
works shall be billed accordingly as additional works and will be subjected for re-
quotation.
2. TERMS OF PAYMENT:
2.1) 30% Down payment upon approval of quotation and remaining will be in
Progress Billing scheme.
2.2) The FIRST PARTY shall issue the corresponding BIR-approved Official
Receipts/Invoice for every payment made by the SECOND PARTY.
2.3) A ten percent (10%) referred to as the "retention money" shall be retained
and shall be due for release upon final acceptance of the works.
3. EFFECTIVITY
The agreement shall take effect after the signing of this Contract
Agreement.
IN WITNESS WHEREOF, the parties hereto affix their signatures this
__________________ at Iloilo City, Philippines.
HARVEY Y. VIJUAN JASPER JAY P. SANTOS
(For the First Party) (For the Second Party)
___________________________ ___________________________
___________________________ ___________________________
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Signed in the Presence of :
____________________________ and ____________________________
REPUBLIC OF THE PHILIPPINES)
IN THE CITY OF I L O I L O ) S.S.
x--------------------------------------------x.
ACKNOWLEDGMENT
BEFORE ME, this day of _______________, in the City of Iloilo, Philippines,
personally appeared the following: HARVEY Y. VIJUAN as the Representative of the
FIRST PARTY, and JASPER JAY P. SANTOS known as the Representative of the
SECOND PARTY, with their valid proofs of identities as shown below their respective
names and signatures, and who are personally known to be the same persons who
executed the foregoing instrument, and acknowledged before me that the same are
their free and voluntary act and deed.
The foregoing instrument refers to a Contract Agreement consisting of three (3)
pages, including the page in which this Acknowledgement is written, signed by the
parties, including their instrumental witnesses on each and every page thereof and
sealed with my notarial seal.
WITNESS MY HAND AND SEAL on the date and place above-written.
Doc. No. ____;
Page No. ____;
Book No. ____;
Series of 2022.
