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Statement Of Agreement Template for Philippines

A Statement of Agreement under Philippine law is a formal document that records mutual understanding and commitments between two or more parties. This document, while less complex than a full contract, carries legal weight under the Philippine Civil Code and serves to clearly document the terms and conditions agreed upon by the parties involved. It includes essential elements such as party identification, agreement terms, obligations, and is typically used for straightforward arrangements where parties wish to formalize their understanding while maintaining a relatively simple document structure. The agreement must comply with Philippine contract law requirements and may need to be notarized depending on the nature of the arrangement.

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What is a Statement Of Agreement?

The Statement of Agreement is a commonly used legal document in the Philippines that serves to formalize arrangements between parties in a more streamlined format than a full contract. This document type is particularly useful when parties need to document their mutual understanding and commitments in a clear, legally-binding manner, while avoiding the complexity of more elaborate contracts. The Statement of Agreement typically includes key information such as party details, terms of the arrangement, obligations, and duration, all while conforming to Philippine Civil Code requirements. It's frequently used in business relationships, professional services, and various commercial arrangements where parties want to establish clear terms while maintaining relative simplicity in their documentation. The document can be adapted for various purposes while maintaining its essential legal character under Philippine jurisdiction.

What sections should be included in a Statement Of Agreement?

1. Parties: Identifies and provides complete details of all parties entering into the agreement, including their legal names, addresses, and any registration numbers if applicable

2. Background: Sets out the context and circumstances leading to the agreement, including any relevant history or relationships between the parties

3. Definitions: Defines key terms used throughout the agreement to ensure clear interpretation

4. Purpose of Agreement: Clearly states the primary objective and scope of the agreement

5. Terms and Conditions: Details the main obligations, rights, and responsibilities of each party

6. Duration: Specifies the term of the agreement, including start date and end date if applicable

7. Financial Provisions: Outlines any financial arrangements, payments, or monetary considerations

8. Representations and Warranties: States the assurances and guarantees made by each party

9. Termination: Specifies how and under what circumstances the agreement can be terminated

10. Governing Law: Explicitly states that Philippine law governs the agreement

11. Execution: Formal signing section including date and witness provisions as required under Philippine law

What sections are optional to include in a Statement Of Agreement?

1. Confidentiality: Include when parties need to protect sensitive information exchanged during the course of the agreement

2. Intellectual Property: Include when the agreement involves the use, creation, or transfer of intellectual property

3. Force Majeure: Include when parties want to address circumstances beyond their control that might affect performance

4. Dispute Resolution: Include when parties want to specify particular methods for resolving disputes, such as arbitration or mediation

5. Assignment: Include when parties need to address whether rights under the agreement can be transferred to others

6. Insurance: Include when specific insurance coverage is required for the activities covered by the agreement

7. Compliance with Laws: Include when specific regulatory compliance needs to be highlighted

8. Notices: Include when formal communication procedures need to be established between parties

What schedules should be included in a Statement Of Agreement?

1. Schedule A - Scope of Work: Detailed description of specific tasks, deliverables, or services to be provided

2. Schedule B - Payment Terms: Detailed breakdown of payment amounts, schedules, and methods

3. Schedule C - Key Personnel: List of key individuals involved in executing the agreement and their roles

4. Schedule D - Technical Specifications: Technical details, requirements, or specifications relevant to the agreement

5. Appendix 1 - Required Documents: Copies of necessary certificates, licenses, or other supporting documents

6. Appendix 2 - Contact Information: Detailed contact information for authorized representatives of each party

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions




















Clauses




















Relevant Industries

Real Estate

Professional Services

Manufacturing

Retail

Education

Healthcare

Technology

Construction

Agriculture

Financial Services

Hospitality

Transportation

Media and Entertainment

Non-Profit

Government Services

Relevant Teams

Legal

Operations

Administration

Procurement

Human Resources

Compliance

Finance

Risk Management

Business Development

Executive Leadership

Project Management

Relevant Roles

Legal Counsel

Business Development Manager

Contract Administrator

Company Secretary

Operations Manager

Project Manager

Human Resources Director

Procurement Officer

Compliance Officer

Chief Executive Officer

Managing Director

Department Head

Administrative Manager

Finance Manager

Risk Manager

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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