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Compromise Agreement

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31 views2 pages

Compromise Agreement

https://www.google.com/search?q=acknowledgement+receipt+template+notarized&sca_esv=7ef4f979cad443e4&rlz=1C1GCEA_enRO992PH996&sxsrf=ADLYWIK1hNp-HXBDm2D2q0F_CmkE8xviEA%3A1726280021711&ei=VfHkZuSIK8TR2roPn5z_6Ac&ved=0ahUKEwikh-ibrsGIAxXEqFYBHR_OH30Q4dUDCA8&uact=5&oq=acknowledgement+receipt+template+notarized&gs_lp=Egxnd3Mtd2l6LXNlcnAiKmFja25vd2xlZGdlbWVudCByZWNlaXB0IHRlbXBsYXRlIG5vdGFyaXplZDIFECEYoAEyBRAhGKABMgUQIRigATIFECEYnwUyBRAhGJ8FMgUQIRifBTIFECEYnwVIkBxQ7wFY4RpwAXgBkAEAmAHTAaAB5Q-qAQU5LjkuMbg

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COMPROMISE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:


THIS AGREEMENT is entered into by and between the following
parties:

ORLANDO D. BUENO JR., Filipino, of legal age, single and a resident


of Ugas Norte, Tuguegarao City, Cagayan, herein referred to as the “FIRST
PARTY”;

-and-

ALDRIN ROME A. MUJAR, Filipino, of legal age, married and a


resident of Catayauan, Lal-lo Cagayan, herein referred to as the “SECOND
PARTY”;

The parties hereto had mutually agreed to the following terms and
conditions for the settlement of all damages and expenses caused by a
vehicular accident between all the PARTIES, to wit;

“That around 4:15 in the afternoon of April 26, 2024, a vehicular accident
transpired along Dalan na Pagayaya, Regional Government Center, Carig
Sur, Tuguegarao City, Cagayan, involving a Hyundai Elantra 2017 bearing
Plate No. DAG 4416 being driven by the FIRST PARTY, and an orange
Honda Click 125 being driven by the SECOND PARTY. Said vehicles collided
into each other and as a result, incurred damages caused by the FIRST
PARTY.”

That all parties expressed their sincerity in settling the case through
amicable settlement, and with their efforts it has been agreed that both the
FIRST PARTY and SECOND PARTY will bear the actual damages on the
amount of SEVEN THOUSAND PESOS (P 7, 000.00) which will cover all
the damages attributable to the accident. It is further clarified that the
SECOND PARTY shall not be required to indemnify the FIRST PARTY for any
cost beyond the agreed amount of actual damages in and eventuality.

This Compromise Agreement entered into by the Parties will serve as a


proof of their mutual understanding and, in view of the understanding the
same, the matter has been clearly threshed out and there is no more need
to press/file any complaint;

That in violation of the terms and conditions of this Compromise


Agreement, either Party may seek to redress to the proper court of law,
however, at this moment, BOTH PARTIES, by this Agreement, shall waive
any right against each other.

This agreement shall take immediately upon signing unless sooner


revoked or rescinded by the other instrument;
IN WITNESS WHEREOF, the parties hereunto set their hands this
_______________ at City of Tuguegarao.

ORLANDO D. BUENO JR. ALDRIN ROME A. MUJAR


First Party Second Party

SIGNED IN THE PRESENCE OF:

____________________________ ____________________________

ACKNOWLEDGEMENT
Republic of the Philippines )
Tuguegarao City ) s. s.
x-------------------------x

Before me, personally appeared the above-named parties, who


signed the instrument and acknowledge the same as their free act and
voluntary deed.

WITNESS MY HAND on the date stated above.

Doc. No. _____;


Page No. _____;
Book No. _____;
Series of 2024

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