This Agreement is subject to the following terms and conditions:
- Project
The Project is a Two (2) storey apartment to be finished at Bali St. Pasig City construction cost of One Million six Hundred Thousand pesos only (Php 1, 600,000) to be paid by the OWNER (Mr. and Mrs Panganiban). - Scope of Work
The BUILDER shall exclusively undertake, pursue and manage the completion of the project and shall likewise provide all the necessary materials, labor, tools and equipment necessary for the construction of the said project, and shall perform all such works in accordance with the approved plans and specifications, inclusive of, but not necessarily limited to the items set before this, see Succeeding pages.
The BUILDER shall not carry out extra or varied works without the permission and approval of the OWNER and/or his authorized representative. In the same manner any additional construction, revision i.e., not covered by the construction plans and scope of work specified, shall be subject to separate billings by the BUILDER.
All additional constructions and amendments to or changes in the plans and specifications from the date hereof and the corresponding costs thereof shall be subjected of a written agreement between the parties; and the amendments or changes shall have the effect of reducing or increasing the contract price hereinbefore stipulated, the same shall be correspondingly adjusted.
Attached herewith is the specification of materials to be used during construction. - Contract Period / Time of Completion
The work to be performed under this agreement shall commence from and after the receipt by the BUILDER of all approved construction permits and licenses required for the project, and down payment by the OWNER.
The work shall be completed by the CONTRACTOR within one hundred fifty six (156) working days. Provided, however, that any delay of reason of force majeure of fortuitous event, or by reason of additional constructions or amendments to or changes in the construction shall be excluded. - Contract Sum
The OWNER shall pay to the BUILDER for the performance of this agreement the sum of ONE MILLION SIX HUNDRED THOUSAND PESOS ONLY (Php 1, 600,000) construction cost for 81 square meter floor area.
Upon signing of this agreement, from and after the receipt, and or the advice of the BUILDER, the OWNER agrees to pay a down payment of thirty five percent (35%) of the total contract. Said payment will be deducted on total project cost.
The down payment will be used as mobility fund and to cover materials and labor expenses for the project. The remaining balance of 65% will be paid on progress billing.
The remaining balance will be paid in progress billing or monthly stipulated as follows:
1st Down Payment Upon Signing of Contract (35%)
2nd payment 20% (with Slab) – __
3rd payment 20% (With trusses and Roofing) – __
4th payment 15% (Finishing with painting jobs) – __
5th payment 5% (With doors and windows) – __
Last Payment 5% Ready for Occupancy
- Guarantee
The OWNER and the BUILDER agree on the application of the following conditions for the faithful performance of the Contract/Agreement.
The BUILDER hereby guarantees that the project shall be constructed strictly in accordance with the scope of works and condition of this contract and shall make good, any defect in materials and / or workmanship to the fault of the CONTRACTOR within one year after the full completion of the project. - Termination of Contract
Work under this contract may be discharge by performance if both parties are not able to comply with their respective obligations
Conforme:
Mr. and Mrs. Romer D. Panganiban
Owner
Jc Mer Herrera Lazo
Project Engr. / Contractor