Retainership Agreement Sample Philippines

Retainership agreement is a legal contract that binds two parties in a long-term working relationship. Typically used in professional services, retainer agreement sample Philippines outlines the terms and conditions of the services rendered by the service provider and the compensation agreed upon by both parties.

In the Philippines, retainer agreement is commonly used in legal, accounting, marketing, and consulting services. This agreement helps service providers to secure a steady stream of income and guarantee their availability to the client. On the other hand, clients benefit from the assurance of having the provider`s expertise available for their needs.

Below is a sample retainer agreement in the Philippines:

The Parties:

This agreement is between [Service Provider], a company duly organized and existing under the laws of the Philippines, with its principal place of business at [Address], and [Client], a company duly organized and existing under the laws of the Philippines, with its principal place of business at [Address].

Scope of Services:

The Service Provider agrees to provide services to the Client as requested and mutually agreed upon by both parties. The services may include but are not limited to [insert services here]. The service provider agrees to perform the services in a professional and timely manner.

Term and Termination:

The retainer agreement shall begin on [date] and shall remain in effect for an initial period of [insert a period, e.g. 12 months]. After the initial period, unless terminated by either party with a written notice of [insert a notice period, e.g. 30 days], this agreement shall automatically renew for successive periods of [insert a period, e.g. 6 months].

Either party may terminate this agreement with written notice if the other party breaches any of its obligations under this agreement. In case of termination, the Service Provider shall bill the Client for all services performed up to the date of termination.

Compensation:

The Client agrees to pay the Service Provider a monthly retainer fee of [insert amount] for the services rendered. The fee shall be paid on [insert payment terms, e.g. the 1st day of every month] by bank transfer to the Service Provider`s designated bank account.

Expenses:

The Service Provider shall invoice the Client for all reasonable and necessary expenses incurred in the performance of the services, including but not limited to transportation, communication, and materials. The Client agrees to reimburse the Service Provider for such expenses within [insert payment terms, e.g. 30 days] of receipt of the invoice.

Confidentiality:

The Service Provider agrees to keep all information obtained from the Client confidential and not to disclose it to any third party without the Client`s written consent.

Governing Law and Jurisdiction:

This agreement shall be governed by and construed in accordance with the laws of the Philippines. Any dispute arising out of or in connection with this agreement shall be submitted to the exclusive jurisdiction of the courts of the Philippines.

Conclusion:

Retainer agreement sample Philippines is a powerful tool to secure long-term professional relationships between service providers and clients. By clearly outlining the scope of services, compensation, and other terms and conditions, both parties can work together seamlessly and efficiently while minimizing the risk of disputes.