Commission Agreement

COMMISSION AGREEMENT
PARTIES
- This Commission Agreement (hereinafter referred to as the “Agreement”) is entered into on

August 26, 2023 (the “Effective Date”), by and between EDWARD LLORET MELAD,
with an address of 2230 Alejo Aquino St., Brgy 751 Sta. Ana Sixth District (hereinafter
referred to as the “Principal”) and BOB LLOYD S. MAGNO with an address of
Concepcion Amulung Cagayan (hereinafter referred to as the “Agent”) (collectively referred
to as the “Parties”).
AGREEMENT
- The Parties hereby agree that the Principal to give authority to sell and engage the services of
the Agent to process and secure documents/requirements on the Land property to sell (Lot
Nos 2867 B, 2867 C, 2867 D) and other land properties on behalf of the Principal and the
Agent agrees to indemnify himself/herself as the authorized agent of the Principal to sell and
to engage services in processing requirements/documents on the land property Share of
Edwin Simangan Melad inherent from Vicente Gallibu Simangan.
THE SERVICES AND SALE
- The Parties agree that the Principal authorizes the agent to sell and engage services of the
Agent to process, secure, sign and execute requirements/documents needed.
- The Parties that the SELLING PRICE of the land properties will be set by the Principal and
all expenses incurred on processing of the requirements/documents of the Land Property to
sell by the agent will be on the expense of the Principal. Thus, all expenses incurred by the
Agent will be refunded by the Principal.
- The parties agree that the Agent will receive 5% on Gross Contract Selling Price which will
be paid by the Principal.
TERM
- This Agreement shall be effective on the date of signing this Agreement (hereinafter referred
to as the “Effective Date”) and will end on August 26, 2024.
- The term of this Agreement may be extended upon the provision of written consent from
both Parties.
COMMISSION AND REIMBURSEMENT OF EXPENSES
- The Parties hereby agree that the Agent will be paid by the Principal in cash on the following
The Principal will pay 5% commission of the Total Gross Selling Amount on the Land
Property on the share of EDWIN SIMANGAN MELAD inherent from VICENTE GALLIBU
SIMANGAN to the Agent.
The Principal will pay the amount of Thirty Five Thousand Nine Hundred Fifty Pesos
(P35, 950.00) as commission to the Agent.Plus, the principal will pay and reimburse the total
expenses of the agent with the Amount of Four Thousand Nine Hundred Thirty Pesos
(Php4,930.00) on the land property with Lot Nos. 2867 B, 2867 C, 2867 D situated at Libag,
Tuguegarao City (PHOENIX GASOLINE STATION) and other land properties.
The Principal will pay and reimburse all future expenses of the Agent whenever the
Principal will request to engage the services of processing requirements/documents of the Agent.
RELATIONSHIP OF THE PARTIES
- Hereby, the Parties agree that this is a non-exclusive agreement and that the Parties are
regarded as independent contractors.
CONFIDENTIALITY
- All terms and conditions of this Agreement and any materials provided during the term of the
Agreement must be kept confidential, unless the disclosure is required pursuant to process of
law.
- Disclosing or using this information for any purpose beyond the scope of this Agreement, or
beyond the exceptions set forth above, is expressly forbidden without the prior consent of the
Client.
- This section will remain in full force even after the termination of this Agreement for a
period of 1 YEAR.
TERMINATION
- This Agreement may be terminated in the event that any of the following occurs:
1. Immediately, in the event that one of the Parties breaches this Agreement.
2. At any given time by providing written notice to the other party30 days prior to terminating
the Agreement.
REPRESENTATION AND WARRANTIES
- The Parties agree and disclose that they are fully authorized to enter this Agreement. The
performances and obligations of both Parties may not violate the rights of any third party or
violate any other agreement made between them and/or any other organization, person,
business or law/governmental regulation.
SEVERABILITY
- In the event that any provision of this Agreement is found to be void and unenforceable by a
court of competent jurisdiction, then the remaining provisions will remain in force in
accordance with the Parties’ intention.
GOVERNING LAW
- This Agreement shall be governed by and construed in accordance with the laws of the
Republic of the Philippines.
AMENDMENTS
- The Parties agree that any amendments made to this Agreement must be in writing, where
they must be signed by both Parties to this Agreement.
- As such, any amendments made by the Parties will be applied to this Agreement.
ASSIGNMENT
- The Parties hereby agree not to assign any of the responsibilities in this Agreement to a third
party, unless such is consented to by both Parties in writing.
ENTIRE AGREEMENT
- This Agreement contains the entire agreement and understanding among the Parties hereto
with respect to the subject matter hereof, and supersedes all prior agreements,
understandings, inducements and conditions, express or implied, oral or written, of any
nature whatsoever with respect to the subject matter hereof. The express terms hereof control
and supersede any course of performance and/or usage of the trade inconsistent with any of
the terms hereof.
SIGNATURE AND DATE
- The Parties hereby agree to the terms and conditions set forth in this Agreement and such is
demonstrated by their signatures below:
IN WITNESS HEREOF, we have hereunto set our hand this 26th Day of August in 2023.
PRINCIPAL AGENT
Name: EDWARD LLORET SIMANGAN Name: BOB LLOYD S. MAGNO

Signature:_________________________ Signature:_________________________
Date:_____________________________ Date:_____________________________
WITNESSESS
Name: Name:
Signature:_________________________ Signature:_________________________
Date:_____________________________ Date:_____________________________
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES )

CITY OF TUGUEGARAO ) S.S.
BEFORE ME, this 26th Day of August, 2023 in the City of Tuguegarao, personally
appeared
EDWARD LLORET MELAD BOB LLOYD SERA MAGNO

Philhealth ID NO: 06-027722996-0 Philhealth ID NO: 06-050059235-2
Known to me to be the same persons who executed the foregoing instrument, acknowledged
the same as their free and deed.
This instrument, is consisting of ___ pages including the page on which this
acknowledgement is written, has been signed on the left margin of each page and every page
hereof by the parties and witnesses and sealed with my notarial seal.
Tuguegarao City, Cagayan.
Doc No.:
Page No.:
Book No.:
Series of 2023

Commission Agreement

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COMMISSION AGREEMENT

- This Commission Agreement (hereinafter referred to as the “Agreement”) is entered into on

THE SERVICES AND SALE

COMMISSION AND REIMBURSEMENT OF EXPENSES

REPRESENTATION AND WARRANTIES

SIGNATURE AND DATE

Name: EDWARD LLORET SIMANGAN Name: BOB LLOYD S. MAGNO

REPUBLIC OF THE PHILIPPINES )

EDWARD LLORET MELAD BOB LLOYD SERA MAGNO

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