MEMORANDUM OF AGREEMENT

This Memorandum of Agreement (herein referred to as Agreement) is

made and entered into the City of Cabanatuan, Philippines by and between.
UNITED COCONUT PLANTERS BANK with office address at Ramoso
Building, Burgos Avenue corner A. Bonifacio Street Cabanatuan City
represented by its Manager, Mrs. ROSANNA TOLENTINO ESPIRITU,
herein after referred to as UCPB.
-andCOLLEGE OF BUSINESS AND ACCOUNTANCY WESLEYAN UNIVERSITY
PHILIPPINES, Mabini Extension, Cabanatuan City, represented by
the Dean DR. MARIA VICTORIA C. MONES, herein after referred to as
COLLEGE OF BUSINESS AND ACCOUNTANCY WESLEYAN UNIVERSITY PHILIPPINES.

WHEREAS, UCPB in its concern to enhance the training and development of

more and better professionals, has teamed up with COLLEGE OF BUSINESS AND
ACCOUNTANCY WESLEYAN UNIVERSITY PHILIPPINES for an On-the-JobTraining Program to provide training and support to the students of COLLEGE OF
BUSINESS AND ACCOUNTANCY WESLEYAN UNIVERSITY PHILIPPINES College of
Business and Accountancy on the current trends and latest developments in the
industry, and, to expose them to actual industry situations, thereby enhancing their
formal schooling.
NOW, therefore, for and in consideration of the foregoing premises, UCPB
and COLLEGE OF BUSINESS AND ACCOUNTANCY WESLEYAN UNIVERSITY
PHILIPPINES hereby agree on and stipulate the following:
A. United Coconut Planters Bank shall:
1. Undertake the selection process of the recommended students in
adherence to UCPB policies and guidelines in the section for its
purpose;
2. Provide the venue and assign personnel to take charge as well as
supervise the on-the-job training of students;
3. Provide COLLEGE OF BUSINESS AND ACCOUNTANCY WESLEYAN
UNIVERSITY PHILIPPINES students information, training, and
support;
4. Provide students exposure to actual office environment;
5. Accomplish the evaluation forms required by COLLEGE OF
BUSINESS AND ACCOUNTANCY
WESLEYAN UNIVERSITY
PHILIPPINES in connection with to the on-the-job training of their
students;
6. Issue certificate of completion to students who successfully finish
their training under this Program; and
7. Designate an employee who will supervise the students of the
COLLEGE OF BUSINESS AND ACCOUNTANCY of WESLEYAN
UNIVERSITY PHILIPPINES, Cabanatuan City on the various
activities under this Program.
B. COLLEGE OF BUSINESS AND ACCOUNTANCY WESLEYAN UNIVERSITY
PHILIPPINES shall:
1. Recommend students who will undergo on-the-job training under
this Program for final selection/acceptance by UCPB;
2. Designate a Representative who will coordinate with UCPB on the
various activities under this program; and
3. Together with the students, faculty and parents concerned renounce
and waive any claim against UCPB for any injury or loss that the
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trainees may sustain or may suffer, personal or pecuniary, in the

performance of their duties and functions while under the training
not attributable performance of their duties and functions while
under the training not attributable to the negligence or willful act of
any of the personnel of UCPB. The waivers of the concerned parties
shall be submitted to UCPB prior to the commencement of the
training, which forms part of this Agreement.
C. Under this Program, the following terms and conditions are likewise
included:
1. It is expressly understood that there will be no employer-employee
relationship between UCPB and the trainees of the COLLEGE OF
BUSINESS AND ACCOUNTANCY WESLEYAN UNIVERSITY
PHILIPPINES;
2. The trainees will be personally responsible for any and all liabilities
for damage to property or injury to third persons, which may be
occasioned by their international or negligent acts while in the
course of their training; and
3. COLLEGE OF BUSINESS AND ACCOUNTANCY
WESLEYAN
UNIVERSITY PHILIPPINES shall see to it that the trainees
complete the agreed scope of work within the agreed duration of
the program; and
4. It is expressly understood by COLLEGE OF BUSINESS AND
ACCOUNTANCY WESLEYAN UNIVERSITY PHILIPPINES, and the
trainees that all information on technology, manufacturing process,
process standards, quality assurance methodologies, quality
standards, production capabilities, raw material purchasing,
marketing, finance and all other related documents, manuals, and
operational or technical matters that UCPB shall make available to
them shall be used solely for this Program. All of these matters are
classified as confidential in nature and proprietary to UCPB.
COLLEGE
OF
BUSINESS
AND
ACCOUNTANCY
WESLEYAN
UNIVERSITY PHILIPPINES and trainees hereby undertake to
prevent disclosure or transfer of such information, consciously or
unconsciously, to any party outside of institution without the
knowledge and written consent of institution.
5. It is expressly understood that UCPB will only accept OJTs on a
case-to-case basis according to vacancy.
D. DURATION
This AGREEMENT shall hold for the duration of the 2014-2015 School
Year of COLLEGE OF BUSINESS AND ACCOUNTANCY WESLEYAN
UNIVERSITY PHILIPPINES. Further, UCPB and COLLEGE OF
BUSINESS
AND
ACCOUNTANCY
WESLEYAN
UNIVERSITY

PHILIPPINES reserve their respective rights to withdraw their

participation in the agreement upon written notice.
IN WITNESS WHEREOF, the parties hereto have signed these presents on
this 9th day of April 2015, in Cabanatuan City, Philippines.
FOR:

United Coconut Planters Bank

University-Philippines

Mrs. Rosanna Tolentino Espiritu

VICTORIA C. MONES
General Manager
Dean
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CBA-Wesleyan

DR. MARIA

SIGNED IN THE PRESENCE OF:

_____________________________

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_____________________________

Republic of the Philippines

)
City of Cabanatuan
) S.S.

ACKNOWLEDGEMENT

On this 9th day of April 2015, personally appeared before me, a Notary Public
in and for the city of Cabanatuan, the following persons:
NAME
ISSUED

VALID I.D.

DATE/PLACE

______________________________
DR. MARIA VICTORIA C. MONES

SSS ID #

all known to me to be the same persons who executed the foregoing document,
consisting of three pages including this page and acknowledgement that the same
is an act of their free and voluntary will and deed.
IN WITNESS THEREOF, I hereunto sign this document and affix my seal of
office on this date and place aforementioned.

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