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    Compromise Agreement

    Uploaded by

    Gabriel Donde
    This document is a compromise agreement between two parties to settle a case. The first party filed cases against the second party which are pending in court. The parties agree to a settlement amount and payment plan over six months to resolve the issues and claims between them.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Compromise Agreement

    Uploaded by

    Gabriel Donde
    32 views3 pages
    This document is a compromise agreement between two parties to settle a case. The first party filed cases against the second party which are pending in court. The parties agree to a settlement amount and payment plan over six months to resolve the issues and claims between them.

    Original Title

    COMPROMISE AGREEMENT

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    © © All Rights Reserved

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    This document is a compromise agreement between two parties to settle a case. The first party filed cases against the second party which are pending in court. The parties agree to a settlement amount and payment plan over six months to resolve the issues and claims between them.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    32 views3 pages

    Compromise Agreement

    Uploaded by

    Gabriel Donde
    This document is a compromise agreement between two parties to settle a case. The first party filed cases against the second party which are pending in court. The parties agree to a settlement amount and payment plan over six months to resolve the issues and claims between them.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    COMPROMISE AGREEMENT

    This compromise agreement is entered into by and between:

    ________________, of legal age, Filipino, married and a resident of


    __________________________ and sole proprietor of X Pharma hereinafter referred to as the
    FIRST PARTY;

    - AND –

    ____________________, of legal age, Filipino and a resident of


    _____________________, Philippines, hereinafter referred to as the SECOND PARTY;

    The aforementioned persons shall be collectively known as “PARTIES”

    WITNESSETH

    WHEREAS, the FIRST PARTY filed cases for Violation of B.P. 22 against the SECOND PARTY
    which is now pending before Municipal Trial Court in Cities, _______________under Case
    Nos. ___________________________CR;

    WHEREAS, the parties agree to enter into Compromise Settlement with the following
    terms and conditions, to wit:

    1. Both parties have agreed to enter into SETTLEMENT of the SECOND PARTY’S
    remaining obligation and both parties agree to peg it at TWO HUNDRED THOUSAND
    (P’200,000) PESOS;
    2. That of the aforementioned amount, the SECOND PARTY’S has already paid the
    amount of SEVENTY EIGHT THOUSAND (P’78,000.00) PESOS and the remaining
    balance is ONE HUNDRED TWENTY TWO THOUSAND (P’122,000.00) PESOS;

    3. Upon execution of this Agreement, the SECOND PARTY agrees to pay the remaining
    balance within six (6) months at a monthly installment of P’20,333.00 starting 25 th of
    April 2019 and every 25th of the succeeding month until September 2019 to be
    deposited in the account of XPharma under BDO Account No. ________________;

    4. This Amicable Settlement serves as a waiver for all the claims and counter-claims
    between and among the parties and shall bind all successors or assignees.
    5. The FIRST PARTY and SECOND PARTY both agree to suspend the hearing of the case
    until September 2019. Should the Second Party completes the payment, the First
    Party will execute an Affidavit of Desistance in favor of the Second Party.

    IN WITNESS WHEREOF, the parties agree to affix their respective signatures this
    _______________________ at Davao City, Philippines.

    _______________ ________________
    First Party Second Party

    Signed in the presence: __________________________ & _________________________

    ACKNOWLEDGMENT
    Republic of the Philippines)
    City of Davao . . . . . . . . . . )s.s.

    BEFORE ME, a Notary Public for and in the City of Davao this
    ___________________, personally appeared the following persons who have satisfactorily
    proven to me their identities through their Valid I.D.’s, to wit:
    Number

    _________________ – Driver’s License No.


    __________________ – _______________________

    Both personally known to me to be the person who voluntary executed the foregoing
    Memorandum of Agreement which they acknowledged before me as their free and voluntary act
    and deed with full authority to sign in that capacity.
    This instrument consists of two (2) pages including this page on which this
    acknowledgment is written and duly signed by the parties with their two instrumental witnesses.
    WITNESS MY HAND AND SEAL, this ___________________ in the City of Davao.

    Doc. No. _______;


    Page No. _________;
    Book No._________;
    Series of _________.

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