Terms and Conditions for the Grant of PaTsikot/SUV Sellers Promo

This car/SUV award entered into by and between:

San Carlos Pangasinan Gardens Inc/ Ang Uno Gardens with offices at _________herein represented by   MRS hereinafter known as the GRANTOR 

                                                 and

______________________________________________, single/married resident of  _______________________an active SELLER at Holy Gardens Pangasinan/Greenhills as evidenced by SEAD dated ___________________hereinafter known as the AWARDEE

WITNESSETH

1.  That on __________________the GRANTOR announced the said Patsikot/SUV sellers promo that promised awards/grants of cars and SUV when certain sales level are reached;

2.  That on ____________________the AWARDEE,through the Letter of Intent dated, _______________manifested his her desire to pursue a goal of achieving  __ plots in ones year time, targeting __________________(year car model)

3. That on October   ________________________the awardee  reached _____sales as evidenced by validated PPA, OR,and deposit slips

For in consideration of  the above premises and other considerations, the GRANTOR awards unto the grantee, beginning  today; 

             one (1) unit of 2017 (18)   _________________________valued at 

             __________________________

             as an award for achievement of  ___unit of sales valued at _________

           * (In case of price increase the sales achievement shall be adjusted accordingly, say the Fortuner used to cost P1,440,000 now its P1,495,000 the AWARDEE shall shoulder the cash difference or make up for it with the additional 50 plots

Terms and condition:

1.   FULL USE OF THE VEHICLE The awardee shall be afforded full, uninterrupted use of the vehicle anywhere, anytime for personal use, (except for negative covenants) in the Philippines provided the awardee shall only allow only known and authorized personnel to drive.

2.  CAR BOUGHT ON INSTALLMENT The full cost of the car shall be borne by the GRANTOR however the purchase is on installment basis, co terminus with the maturity of the PPA which is five years since October 2017 (and subsequent dates).  It is bought on installment with amortization lasting for sixty months

3.  OWNERSHIP.  The ownership of the car shall remain with the GRANTOR and the same shall be transferred unto the AWARDEE upon payment of P1,000.00 This is the only equity contribution of the AWARDEE

4. INSURANCE AND MAINTENANCE.

    At its expense  the GRANTOR  shall annually shoulder the cost of annual comprehensive insurance in favor of the lending company;

   Meanwhile, the FUEL, LUBRICATION, TIRES, repairs and maintenance of the vehicle shall be borne by the awardee

5.  NEGATIVE COVENANTS:

     The AWARDEE shall not/ CAN NOT

     1. Sell

     2. Mortagage

     3. Lease

     4.  Or use the vehicle for public conveyance, whether licensed by LTFRB or not.  

the above mentioned vehicle, even with the implied knowledge of the GRANTOR.

5.  REPRESENTATION AND WARRANTIES:

    1. The sales achievement is real authentic, and the buyers are genuine with real residence and personnel data; There will be challenges and charges of poaching and unethical selling that may ensure

    2.  During the life of this agreement, the AWARDEE, undertakes to keep the accounts in current status; (whether or not there is a collector, or payment system in place)  n case of  permanent default, the AWARDEE undertakes to replace the accounts that have defaulted

   3.  The AWARDEE hereby represents that he/she has maintained the highest ethical and legal standards in the conduct of the business;  in case of unethical dishonest practice, including embezzlement, misrepresentation took place and was discovered, the AWARDEE undertakes to return the car without prejudice to filing of appropriate civil and criminal cases

   4. The AWARDEE shall be loyal to the GRANTOR, promising not to sell, leak out trade secrets promos, or events to competitors in the industry

   5.  Shall attend events or conventions, meetings that will be called upon by the GRANTOR

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Setting the standards in interment service.

Innovation creates more wealth and more customers

RRURAC

BIDDA

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