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MOA for MP Accreditation

PRA memorandum of agreement for MP accreditation

Your Browser Doesn't Support Canvas. Showing the Text Content of the PDF Instead: MEMORANDUM OF AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This Memorandum of Agreement entered this _____ day of ____________, _____, by and between:
The PHILIPPINE RETIREMENT AUTHORITY, a government owned and controlled corporation created
by virtue of Executive Order No. 1037, with principal office address at the 29th Floor, Citibank Tower, 8741 Paseo
de Roxas, Makati City, Philippines, herein represented by its General Manager/ CEO ,_____________________
__________________________________ , hereinafter referred to as “PRA”;
-andThe , a corporation owned and managed by , with principal office at
, herein represented by its , herein after referred to as “MERCHANT
PARTNER”.
WITNESSETH
WHEREAS, the PRA is a government owned and controlled corporation created by virtue of Executive
Order No. 1037 dated July 4, 1985, mandated by the President of the Philippines to develop and promote the
country as a retirement haven, as a means of accelerating the social and economic development of the country,
strengthen its foreign exchange and encourage foreign investments into the country;
WHEREAS, pursuant to Executive Order. 372, PRA recognizes that the PRA Retirement Program can
be marketed and promoted more effectively through the assistance of the private sector and all the other stake
holders of the retirement industry;
WHEREAS, “” has been accredited by PRA as one of the latter’s “MERCHANT
PARTNER” and it shall promote the PRA Retirement Program honestly and shall conduct its affairs and
businesses in accordance with the rules, regulations, existing policies and accreditation standards of the PRA
and undertake to comply with and abide by all the Rules and Regulations implementing Executive Order No.
1037;
NOW, THEREFORE, for and in consideration of the foregoing premises, the parties hereby agree as
follows:
Section 1. OBLIGATIONS OF PHILIPPINE RETIREMENT AUTHORITY
a.

PRA shall promote/endorse the MERCHANT PARTNER and encourage all its retiree-members and
prospective retirees of the PRA program, to acknowledge and avail the services offered by the
MERCHANT PARTNER.

b.

PRA shall provide supply of its promotional materials with rack/holder to be displayed at the
MERCHANT PARTNER’S establishment / branches;

c.

PRA shall display the MERCHANT PARTNER’s marketing collaterals at the PRA One-Stop Shop /
Retiree’s Lounge located at the 29th floor of Citibank Tower, Makati City and its Satellite Offices for the
information of all PRA clients;

d.

PRA shall not in any way accept, request, ask consideration or compensation in any form from the
MERCHANT PARTNER or from PRA clients in relation to the services relative to this Agreement;

e.

PRA and its clients shall acknowledge and adhere to the terms and conditions and policies of the
MERCHANT PARTNER, provided, such terms and policies are not contrary to the Philippine laws and
the terms of this Memorandum of Agreement;

f.

To provide space in the PRA website, newsletter and other information materials to feature the
MERCHANT PARTNER.

Section 2. OBLIGATIONS OF MERCHANT PARTNER
a.

MERCHANT PARTNER shall offer its products and services to all the retiree-members and
prospective retirees of the PRA program upon presentation of PRA ID card or Certificate of
Endorsement as appropriate with discounts and/or privileges as follows:

PRA-CR-FORM-0029

ISSUE NO: 0001

ISSUE DATE: JANUARY 2017

(Kindly indicate exact percentage amount.)
DISCOUNT / PRIVILEGE

b.

PRODUCTS / SERVICES OFFERED

MERCHANT PARTNER shall provide supply of its promotional materials with rack / holder to be
displayed at the PRA One-Stop Shop / Retirees Lounge and inform / update the PRA of any changes
on their products and services;

c. MERCHANT PARTNER shall display PRA marketing collaterals in its establishment and provide space
in its website, brochures and other promotional materials to feature the PRA logo and contact details;
d. MERCHANT PARTNER shall adhere to the NO GIFT POLICY of PRA;
e. MERCHANT PARTNER shall advise PRA and submit a monthly report (including the name and
availment date) once its products / services are availed by the PRA retiree-members, for monitoring
purposes.
Section 3. COVERAGE
The provisions of this MOA shall cover all the members and prospective retirees of the PRA program,
subject to presentation of respective PRA ID cards.
Section 4. AMENDMENTS, TERMINATION AND EFFECTIVITY
Amendments – This MOA may be amended by mutual written agreement of both parties.
Termination – This MOA may be terminated in good faith for any cause upon mutual consent of the
parties in writing or upon notice in writing by either party to the other which shall take effect only after thirty (30)
days from receipt of the written notice of the MOA termination.
Effectivity – This MOA shall take effect upon signing hereof of the representatives of both parties. This
shall be effective for one (1) year from date of the signing of the said MOA, subject to subsequent renewal
periods of one (1) year each time, upon the agreement of both parties. Any change in the composition of the
Management of both parties during the effectivity of this Agreement shall not in any way suspend or terminate
the herein provisions unless for cause and upon mutual consent in writing of all parties concerned.
DISCLAIMER
The accreditation granted by the Philippine Retirement Authority (PRA) to its Merchant Partner is free of charge and is for
the sole purpose of assisting in the advertising, marketing, and promotional activities of either or both parties. As such, PRA
assumes no responsibility nor grants any warranties, express or implied, in relation to the services provided by Accredited
Merchant Partner. Neither shall PRA be liable for the consequential damages or for breaches or negligence committed by
said Merchant Partner.

For the PHILIPPINE RETIREMENT
AUTHORITY

For the

___________________________
General Manager / CEO

_________________________
Representative

SIGNED IN THE PRESENCE OF:

PRA-CR-FORM-0029

ISSUE NO: 0001

ISSUE DATE: JANUARY 2017

_________________________

_________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
) S.S
BEFORE ME, a notary public in and for the above jurisdictions, this ____________________,
personally appeared the following:
Name

___________________

ID No.

Date / Place Issued

(tin/ CTC. Driver’s License or any Govt. ID #)

____________________

Known to me and to me known to be the same persons who executed the foregoing instrument and
they acknowledged to me that the same is their free act and deed and that of the entity herein represented.
This instrument, consisting of three (3) pages including the page upon which the acknowledgment is
written, has been duly signed by the parties and their instrumental witnesses on each and every page hereof.
WITNESS MY HAND AND SEAL, on the date and place above-written.

NOTARY PUBLIC
Doc. No.________
Page No.________
Book No.________
Series of .

PRA-CR-FORM-0029

ISSUE NO: 0001

ISSUE DATE: JANUARY 2017

 
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