CONTRACT OF AGENCY

This Agreement is made and entered into this 27th of February 2016 between spouses MR. JUAN DELA
CRUZ and MRS. MARIA DELA CRUZ herein after designated as the PRINCIPAL and MR. JOJO BINAY
herein after designated as AGENT.
SUBJECT MATTER OF THE AGREEMENT
The Principal assigns and the Agent assumes an obligation to make a withdrawal from PS Bank in the
amount of Php 1,000,000 cash, in the name and at the expense of the Principal, to pay the principals
creditor Grace Roxas.
OBLIGATIONS OF THE PARTIES
The Agent is liable to, upon the Principals assignment and under the terms and conditions hereof, carry out
the agreement on or before May 31, 2016, after which the assignment is deemed completed.
The Principal is liable to provide the Agent with all necessary information on withdrawing the amount from
the bank and on delivering such to the creditor.
Pursuant to the current legislation the Parties bear full responsibilities for failure to fulfill or inadequate
fulfillment of the obligations hereunder.
DISPUTES SETTLEMENT
All disputes and differences between the Parties, arising in the course of dealing, are to be settled by the
Parties through negotiations. If disputes and differences are not settled by negotiations, the dispute shall be
subject to settlement in the court at the Principals location.

IN WITNESS WHEREOF, the parties have hereto set their hands this 20th day of March at Pasong Tamo,
Makati City.

JUAN DELA CRUZ

MARIA DELACRUZ
PRINCIPAL

JOJO BINAY
AGENT

Signed in the presence of:

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