CONSTRUCTION CONTRACT

This Contract made and executed by and between:

_____________, _____________(hereinafter referred to as the

“Owner”)

-and-

________________, (hereinafter referred to as the “Contractor”)

SETS FORTH THAT:

The Owner desires the following works to be constructed:

______________________________________, (hereinafter called the

“Project”) at _______________________________ (hereinafter called the
“Site”) and has caused Drawings and Specifications to be prepared which show
and ascribe the Work to be done. The contractor shall undertake the
_________________________ (hereinafter called as “The Works”).

The contractor has submitted a proposal for undertaking the construction of

the Work and the Owner has accepted the Contractor’s proposal under the
terms and conditions specified herein and in the Contract Documents.

NOW, THEREFORE, for and in consideration of the foregoing premises, the

Owner hereby accepts the proposal of the Contractor to undertake the
construction and completion of the Work and the Site under the terms and
conditions specified herein and in the Contract Documents.

1. Contract Documents

The work shall be commenced and completed in accordance with the terms
and conditions for the Contract Documents. For this purpose, the following
documents shall comprise the Contract Documents:

1.1 This Contract;

1.2 Notice of Award / to Proceed as Annex “A”;
1.3 Owner’s requirements as Annex “B”;
1.4 Details Specifications as listed in Annex “C”
1.5 Drawings as listed in Annex “D”

In the event any inconsistency or conflict between or among them, the Contract
Documents shall have the following order or priority:

1.1 This Contract

1.2 Owner’s Requirement as Annex “B”
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1.3 Notice of Award / To Proceed as Annex “A”;

1.4 Specifications as listed as Annex C;
1.5 Drawings as listed as Annex “D”

2. Contract Period:

The Work shall be commenced on _____ the “Commencement Date”) and

shall be completed on ____ (the “Completion Date”) or ____ days.

3. Contract Price:

For and in consideration of the construction and completion of the Work in

accordance with the Contract Documents, the Owner shall pay the Contractor the
price of PHILIPPINE PESOS: _____________________ (PhP ______) ONLY,
under the following terms and conditions:

a) The foregoing Contract Price is inclusive of VAT, overtime and other

allowances.

For avoidance of doubt, no claim for price escalation except for

Government mandated wage increase shall be entertained.

Bonds and Insurances: Surety, Performance and Guarantee Bond is

waived.

4. Terms of Payment: A 20% downpayment for General Construction

Works Package, in the sum of PHILIPPINE PESOS: ____ (Php
____) shall be paid to the Contractor.

Monthly progress billing shall be paid by the Owner to the Contractor.

The Owner shall retain an amount equal to ______ (_____%)
percent of the amount certified for payment representing the
Retention Amount. The release of the Retention Amount shall be
upon ______________.

5. Variations - All variation works/revisions shall be pre-approved by the

Owner.

6. Liquidated Damages. Shall be 1/10 of 1% of the Contract Price for

each day of delay but not to exceed 10% of the total Contract Price.

7. Other Terms and Conditions

7.1 The Contractor shall provide qualified and acceptable

personnel all subject to approval of the owner.
7.2 The Contractor confirms its undertaking to comply with Labor
Standards, Labor Laws, and all regulatory requirements. All
costs incurred as a result of or in connection with non-
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compliance with this condition shall be borne by the

Contractor.
7.3 The owner reserves the option to convert some work
packages originally forming part of The Works into nominated
subcontractor/suppliers contract. Costs of these converted
work packages shall be based on contract breakdown.

IN WITNESS WHEREOF, the Parties have hereunto set their hands

this ___________________ at Cebu City, Philippines.

___________________
Owner

___________________
Contractor

Signed in the Presence of:

__________________________
________________________
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ACKNOWLEDGEMENT

Republic of the Philippines )

City of Cebu ) s.s.

BEFORE ME, a notary Public for and in Cebu, this _________________,

personally came and appeared before me the following:

_____________________ ______________________
_____________________ ______________________

know to be the same persons who executed the foregoing instrument and they
acknowledged to me that the same is their free and voluntary act and deed.

This Construction Contract consists of 4 pages including the page on which

this Acknowledgement appears, each and every page has been signed by the
parties and the witnesses.

IN WITNESS WHEREOF, I hereunto set my hand and affix my notarial seal

on the date and at the time place above written.

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of 2017.