Supreme Court E-Library
Information At Your Fingertips

September 14, 2002

KNOW ALL MEN BY THESE PRESENTS:

This agreement is made and entered into by and between:

The OFFICE OF THE PRESIDENT with address at "San Miguel, Malacañang, Manila, represented by Senior Deputy Executive Secretary WALDO Q. FLORES;

- and-

CHINA NATIONAL CONSTRUCTIONAL & AGRICULTURAL MACHINERY IMPORT AND EXPORT CORPORATION (CAMC) with address at No. 19, Chao Yang Man Wai Avenue, Beijing 100020, P.R. China, represented by its Chairman, REN HONGBIN;

W I T N E S S E T H :

WHEREAS, the Government of the Republic of the Philippines and the Government of the People's Republic of China are committed to pursue a policy of trade and technical cooperation between the two countries on the basis of mutual benefit;

WHEREAS, in line with this policy of cooperation, the Chinese Government has, on the occasion of the 55th birthday of Her Excellency, President Gloria Macapagal Arroyo, committed to provide and deliver, thru CAMC, fifty five (55) sets of diesel pumps to the Office of the President as its gift to the Philippine Government;

NOW THEREFORE, for and in consideration of the foregoing premises, the parties herewith mutually agree to the following:

1. China National Constructional & Agricultural Machinery Import and Export Corporation (CAMC) shall provide the Philippine Government, thru the Office of the President, fifty-five (55) sets of pump model NS 100 diesel engines, complete with the necessary shipping and import documents, including engine operating and maintenance manuals. The Office of the President shall accept the aforesaid pumps on behalf of the Philippine Government.

2. The CAMC shall assume the payment of all costs incident to the shipment from the Chinese seaport to South Harbor, Manila and/or other local seaports, of the fifty five (55) sets of pump equipment.

3. The Office of the President shall be responsible for securing the release from the customs zone of subject shipment and shall assume payment of taxes, duties and other fees due on said shipment and all local transport and storage charges.

4. The Office of the President, thru the appropriate agency, shall distribute the pumps set to whomsoever it may decide and shall be responsible for their installation and for providing the end users with the necessary information regarding the operation of each unit. It shall allow CAMC to inspect the pumps while in operation and shall provide the latter with all assistance necessary under the premises.

5. Either party may request in writing a revision or amendment of this Agreement. Any revision shall become effective once agreed upon in writing by both parties.

6. This agreement shall enter into force upon its signing by the parties.

IN WITNESS HEREOF, the parties have affixed their signatures in Manila, Philippines, this 14th day of September 2002.