SUBCONTRACTOR'S FINAL AFFIDAVIT WITH WAIVER AND

RELEASE

Whereas ___________________________( the Subcontractor), through its Managing Director,

_____________________________________and _________________________________ (Contractor), have heretofore
entered
into
a
certain
Subcontract
Agreement
No.
___________________________
dated
__________________________, relating to the furnishing of material, labor and equipment in connection with
the
tunneling
works
of
______________________
(the
Project),
located
at
__________________________________________, and which was built for Hedcor (the Client).
The Subcontractor, for and in consideration of the payment made to it by the Contractor, for labor
employed in and material furnished for the tunneling works of the above referenced project pursuant to
the above referenced contract, hereby certifies as follows:

7.

1.

Upon
receipt
of
the
sum
of
_______________________________
(PhP_________________________), Subcontractor will have received final payment in full
for all deliveries of material to and for all work performed in the construction of the
Project, and as an inducement to the Contractor to make said payment, the
Subcontractor hereby affirms that there are no outstanding claims against the Client,
the Contractor - their owners, directors, officers and employees in connection with this
Project.

2.

Contingent upon the receipt of the sum set forth in paragraph 1, the Subcontractor
does hereby waive, release, and discharge the Client, the Contractor - their owners,
directors, officers and employees, from any and all caused of action, suits, debts,
accounts, damages, encumbrances, judgments, claims and demands whatsoever, in
law or equity which the Subcontractor ever had, now have, or ever will have against the
said Client, Contractor - their owners, directors, officers and employees, by reason of
delivery of material and the performance of work relating to the Project and the
Subcontractor hereby agrees to indemnify and hold the above parties harmless from
any and all damages, costs, expenses, demands, suits, and legal fees, directly or
indirectly relating to any claim or lien by any party which relates to that which was
performed or should have been performed by or for the Subcontractor.

3.

The Subcontractor has the right, power, and authority to execute this document.

4.

The Subcontractor further agrees that this affidavit, waiver and release may be
pleaded as bar to any suit or proceeding to which the Subcontractor may have against
the Contractor/Client in connection with the Project.

5.

The Subcontractor will not undertake at any time and for any reason whatsoever,
divulge any information that may prejudice the Client and the Contractor.

6.

The Subcontractor, thru the undersigned finally declared that I had read and fully
understood this affidavit, waiver and release, which is hereby given and made willingly
and voluntarily and with full knowledge of rights under the law.

That the undersigned is executing this affidavit to attest to the truth of the foregoing facts
without any intent to circumvent any existing laws and regulations and to comply with the
requirements of the Contractor and for the legal purpose it may serve.

This Affidavit, Waiver and Release shall be an independent covenant and shall operate and be
effective with respect to work and labor done and material furnished under the above Subcontract

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Agreement, its amendment and the relevant provision of the main construction contract of the Client
and the Contractor to which DrillCorp may have been wholly or partly involved , whether oral or
written, for extra or additional work on the Project and for any further work done or materials
furnished at any time with respect to the Project.

IN WITNESS WHEREOF, this Affidavit, Waiver and Release has been duly executed on this 18th day of May
2016.

Company Name: _____________________.

By:

_________________

Title:

Managing Director

Witness: ____________________

Passport No. ______________

Issued on August 11, 2011
Expiry Date: August 11, 2021
Issued at: __________________

Subscribed and SWORN to before me this 18th day of May 2016 in ______________. Affiant exhibited his
passport as indicated below his name and signature.

Notary Public

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