Sample Memorandum of Agreement Between Two Parties Philippines
A Memorandum of Agreement (MOA) is a written document that outlines the terms and conditions of an agreement between two parties. In the Philippines, MOAs are commonly used by businesses and organizations to formalize partnerships, collaborations, and agreements with other entities.
If you’re looking to create an MOA for your business or organization, here’s a sample template that you can use as a guide:
MEMORANDUM OF AGREEMENT
This Memorandum of Agreement (“Agreement”) is made and entered into as of [Date] by and between [Party 1 Name], with its principal place of business at [Party 1 Address] (“Party 1”), and [Party 2 Name], with its principal place of business at [Party 2 Address] (“Party 2”), collectively referred to as the “Parties”.
A. Party 1 and Party 2 wish to enter into this Agreement to collaborate on [Purpose of the Agreement].
B. The Parties agree to the terms and conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
1. Purpose of the Agreement
The Parties agree to collaborate on [Purpose of the Agreement]. The specific responsibilities of each Party are outlined in Exhibit A, attached hereto and incorporated herein by reference.
2. Term of the Agreement
This Agreement shall commence on [Start Date] and shall continue for a period of [Term Length]. This Agreement may be terminated earlier by mutual agreement of the Parties, or by either Party upon [Notice Period] days’ written notice to the other Party.
The compensation arrangements for the Parties are set forth in Exhibit B, attached hereto and incorporated herein by reference.
The Parties agree to keep all confidential information shared with each other confidential and not to disclose such information to any third party except as required by law or with consent of the other Party.
5. Intellectual Property
Any intellectual property developed in connection with this Agreement will be jointly owned by the Parties.
6. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the Republic of the Philippines.
7. Entire Agreement
This Agreement contains the entire agreement between the Parties and supersedes all prior negotiations, understandings, and agreements between the Parties pertaining to the subject matter of this Agreement.
This Agreement may be amended only by written agreement of both Parties.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.
[Party 1 Name]
[Party 2 Name]
[Description of each party’s responsibilities]
[Description of compensation arrangements]
A Memorandum of Agreement is an essential document for formalizing partnerships, collaborations, and agreements between two parties in the Philippines. Ensure that you carefully read, understand, and agree to the contents of the MOA before signing it. Use this sample as a guide and consult with a legal expert or a professional to help you create a clear and concise MOA that aligns with your business objectives.