CONTRACT OF AGREEMENT

THIS AGREEMENT is made on the _____ day of __________ 20_____ by and

between:

COTABATO FOUNDATION COLLEGE OF SCIENCE AND TECHNOLOGY, a state

college duty organized and existing under and by virtue of Republic Act 3801 as
amended by Batas Pambansa Blg. 408, with principal address at Doroluman, Arakan,
Cotabato, Philippines and duly represented by its College President, ENGR. ALI K.
DILANGALEN, PH.D. of legal age. Filipino, and a resident of CFCST, Doroluman,
Arakan, Cotabato, hereinafter called "PROCURING ENTITY/FIRST PARTY".

-and-

The COCOGEN INSURANCE INC., with a Platinum PhilGeps Registration No:

200607106701604014491, is an accredited establishment with principal address located
at Ground Floor Building, CM Recto Corner, Palma Gil Street, Davao City represented
by its manager, MR. JEOFFREY A. PALMARES, legal age, Filipino, and with residential
address at 131 Sampaguita St.. Flores Village, Bangkal. Davao City, Philippines
hereinafter referred as "".

WHEREAS, CFCST invited Bids for the Procurement of Student Insurance with
Reference No. 782554 and has accepted a Bid by COCOGEN INSURANCE INC., for
the supply of those goods and services in the sum of TWO HUNDRED EIGHTY-EIGHT
THOUSAND PESOS ONLY (PhP. 288,000.00) (hereinafter called "the Contract Price").

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:

1. Purpose And Scope of Work

1.1. This contract agreement is entered by and between the Entity and the
Provider for the purpose of procuring CFCST STUDENT INSURANCE;
and

1.2. The Provider shall provide the following services to the Entity, to wit:

1.2.1. [State and specify the services to be performed or goods to

be provided by the Provider]

1.3 [Specify the Mode of Procurement]

2. Contract Term/Duration

2.1. The Contract agreement shall take effect upon the receipt or acceptance
of Notice to Proceed by the Provider issued by the Entity and will remain
in force and effect within ___ (_) [day or month or year] or with inclusive
dates of ______________to_______________, unless terminated earlier
as provided under the provision of article 8 of this agreement; and

2.2. The Provider shall be fully responsible for the timely delivery and is
expected to deliver goods, materials, and supplies within this Contract
agreement term under the provision of the above paragraph hereof.
Provided, further, that the Provider shall only initiate its services upon
acceptance of Notice to Proceed (NTP) issued by the Entity.

3. Contract Amount and Payment

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 3.1 The total amount of this contract is TWO HUNDRED EIGHTY-EIGHT
THOUSAND PESOS ONLY (₱288, 000);

3.2 [Payment Schedule: Outline the payment terms, including

milestones or deliverables and the corresponding payment
amounts]

4. Obligation of the Parties

Under this contract agreement, both parties shall adhere to the following
obligations and responsibilities, to wit:

4.1 The Provider shall provide and comply with the following eligibility
requirements in accordance with Rule VIII of 2016 IRR under Republic
Act 9184;

4.2 In case of ensuring procurement of aforementioned services, the Provider

shall be responsible for the satisfactory delivery of its services to the
Entity as stated under the provisions of this contract agreement;

4.4. The Provider shall provide a performance security prior to the signing of
the contract to guarantee the faithful performance of its obligations hereof
in accordance with the Bidding documents; and

4.5. [provide further obligations of the parties]

5. Performance Security

5.1. Pursuant to Section 39, Rule XI of 2016 IRR under Republic Act 9184, the
performance security shall be in an amount equal to or not less than the
required percentage of the total contract price in accordance with the
following schedule:

5.1.1. The Cash or cashier’s/manager’s check issued by a Universal or

Commercial Bank for Goods and Consulting Services - five percent
(5%) or with the total amount of _______________pesos;

5.1.2. The Bank draft/guarantee or irrevocable letter of credit issued by a

Universal or Commercial Bank (shall be confirmed and
authenticated by a Universal or Commercial Bank, if issued by a
foreign bank) for Goods and Consulting Services - five percent
(5%) or with the total amount of _______________pesos;

5.1.3. The Surety bond callable upon demand issued by a surety or

insurance company duly certified by the Insurance Commission as
authorized to issue such security for Goods and Consulting
Services or Infrastructure Projects is thirty percent (30%) or with
the total amount of _______________ pesos;

5.2. It is the Provider’s sole decision to choose to submit which one (1) form of
bid security and performance security, provided that the Entity shall not
limit the acceptable forms of bid security and performance security;

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 5.3. The performance security shall be denominated in Philippine Pesos and
posted in favor of the Procuring Entity, which shall be forfeited in the
event it is established that the [Provider] is in default in any of its
obligations under this contract;

5.4. The performance security shall remain in force and valid until issuance by
the Procuring Entity of the Certificate of Final Acceptance;

5.5. The performance security may be released by the Procuring Entity after
the issuance of the Certificate of Final Acceptance, subject to the
following conditions:

5.4.1. Procuring Entity has no claims filed against the contract awardee
or the surety company;

5.4.2. It has no claims for labor and materials filed against the
contractor; and

5.4.3. Other terms of the contract.

6. Relationship of the Parties

6.1. Nothing in this Agreement shall be construed as creating an employer-

employee relationship between the Entity, its faculty/employees, students,
officers, agents, and constituents and the Provider, its subcontractors,
employees, agents, or workers; and

6.2. Furthermore, nothing herein construes or implies the legal partnership or

joint venture within both parties or any of them. This agreement neither
constitutes nor deems to constitute any Party as an affiliate to any kind of
purpose.

7. Contract Amendments

7.1. Amendments or modification of the implementation of this contract

agreement shall be subject and adhere to the guidelines, rules, and
policies of Republic Act 9184 and its Implementing Rules and Regulations
and its further amendments as applicable.

8. Grounds for Termination

8.1. In the event of termination of contract of government procurement for

Goods, Infrastructure projects, and consulting services, this contract
agreement shall be subject and adhere to the “Guidelines on Termination
of Contract” of Republic Act 9183 under its 2016 Revised Implementing
Rules and Regulation and its further amendments as applicable.

9. Dispute Resolution and Governing Law

9.1. In the event that disputes or differences arise between the parties as a
result of the implementation of the contract covered by the R.A. 9165 and
its IRR, the parties shall make every effort to resolve such disputes or
differences amicably through mutual consultation;

9.2. Any and/or all disputes arising from the implementation of this Contract
Agreement covered by the aforementioned Act and its IRR shall be
submitted to arbitration in the Philippines according to the provisions of

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 R.A. 876, or otherwise known as the "Arbitration Law" and R.A. 9285,
otherwise known as the “Alternative Dispute Resolution Act of 2004”;

9.3. Provided, however, that disputes that are within the competence of the
Construction Industry Arbitration Commission to resolve shall be referred
thereto. The process of arbitration shall be incorporated as a provision in
this contract that will be executed pursuant to the provisions of the
aforementioned Act and its IRR;

9.4. Provided, further, that by mutual agreement, the parties may agree in
writing to resort to other alternative modes of dispute resolution; and

9.5. In the performance of this Contract Agreement, the Parties shall, including
their affiliates, officers, directors, agents, and employees of themselves
and their affiliates, comply strictly with all applicable laws and regulations.
This Contract Agreement and the rights and obligations of the Parties
hereto shall be governed by the pertinent laws of the Republic of the
Philippines.

10. Confidentiality

10.1. Both parties commit to maintain confidentiality regarding all information

identified or acknowledged as confidential ("Confidential Information") by
each other, both during the term of this Contract Agreement and for any
period thereafter; and

10.2. The parties shall agree to hold in confidence any confidential information
and shall undertake to prevent its disclosure or transfer, consciously or
unconsciously, to any party outside of this contract agreement without the
knowledge and written consent of all parties.

11. Liability

11.1. In case of breach hereof by the Provider such as, but not limited to failure
to satisfactory deliver the aforementioned services, below performance
evaluation, and to the Entity, the Provider shall be liable for liquidated
damages subject to the guidelines, provisions, policies or rules and
regulations of abovementioned Republic Act, and it’s IRR and its further
amendments as applicable;

1. In this Agreement words and expressions shall have the same meanings as are
respectively assigned to them in the condition of this Contract referred to.

2. The following documents shall be deemed to form and be read and construed as
part of this Agreement, viz.:

a. Canvass/Request for Quotation

b. BAC Resolution No. 33, 5, 2021
c. Abstract of Quotation
d. Policies and Contracts
e. List of Beneficiaries

3. In consideration of the payments to be made by CFCST to COCOGEN

INSURANCE INC., as hereinafter mentioned, COCOGEN INSURANCE INC.,
hereby covenants with CFCST to provide the services and to remedy defects
therein in conformity in all respects with the provisions of this Contract:

4. CFCST hereby covenants to pay COCOGEN INSURANCE INC., in consideration

of the provision of the services this Contract Price or such other sum as may

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 become payable under the provision of the contract at the time and in the
manner prescribed by this contract.

5. The contract price covers the cost of all Services including all applicable taxes
and duties in the Philippines, costs of the importation, insurance, transportation
and delivery at the time and to the location specified but excludes any special
handling or hosting charges which may be incurred at CFCST's site and which
are for the account of COCOGEN INSURANCE INC.;

6. Within seven (7) calendar days upon receipt and acceptance of Notice to
Proceed, COCOGEN INSURANCE INC., shall submit the Statement of Account
and other documentary requirements as may be required by the former as
condition for payment; and

7. All other terms, conditions and stipulations accompanying of the contract

together with all proposals and all mandatory provisions of the Revised IRR of
RA 9184, shall form an integral part of this contract between the PARTIES
hereto;

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be

executed in accordance with the laws of the Republic of the Philippines on the day and
year first above written.

ALI K. DILANGALEN, CE, Ph.D. MR. JEOFFREY A. PALMARES

College President Branch Manager
COTABATO FOUNDATION COLLEGE OF COCOGEN INSURANCE INC..
SCIENCE AND TECHNOLOGY Davao Branch

SIGNED IN THE PRESENCE OF:

__________________________
________________________
Printed Name and Signature Printed Name and Signature

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