Sample Compromise Agreement

COMPROMISE AGREEMENT

This Agreement is entered into this ____ of _____ 20__, in the City of Tagbilaran, Bohol, Philippines, by and between:

 ________________  ____________________  ____ , of legal age age, Filipin pino, and residing at  __________________________,  _________________________ _, Cebu, hereafter referred to as the F!"T PA!T#; AND  ________________  ____________________  ____ , of legal age, Filipino and residing at  __________________________,  _________________________ _, Cebu City Philippines hereafter referred to as the "$C%&' PA!# PA!#((

WITNESSETH, THAT: WHEREAS, F!"T PA!T# and "$C%&' PA!T# are the a))used and the pri*ate )omp )ompla lain inant ant in Crim Crimin inal al Case Case(( &o( &o( !+___ !+_____ ____ __ enti entitl tled ed “Peo “Peopl plee of the the Phil Philip ippi pines nes vs. vs.  ___________” for  ___________” for !e)less mpruden)e !esulting in "erious Physi)al n-ury and 'amage to Property pending before the .uni)ipal Trial Court in Cities in the City of ______________  /hereafter the Case1 respe)ti*ely3

the Case Case stem stemme med d from from a *ehi *ehi)ul )ular ar a))i a))ide dent nt /the /the n) n)id iden ent1 t1 whi) whi)h h WHEREAS, the o))urred between a Toyota Corolla sedan with Plate &o( _________ /the Car1, then dri*en by the F!"T PA!T# and a motor)y)le with se*eral passengers and with Plate &o( ___________, then dri*en by _______________, the husband of "$C%&' PA!T# on ________ 20__3 WHEREAS,  as a result of the n)ident and upon the )omplaint of the "$C%&' PA!T#, the Case was instituted against the F!"T PA!T#3

during the penden)y of the Case se*eral se*eral opportunities opportunities for dis)ussions dis)ussions and WHEREAS, during negoti negotiati ations ons of a possib possible le )ompro )ompromis misee on matter matterss that that are allowed allowed to be )ompro )ompromis mised ed by e4isting law were gi*en to the parties by the )ourt3 WHEREAS, after su)h negotiations and dis)ussions the parties mutually reali5ed and deem it best and )on*enient to resol*e the )i*il aspe)t of the )ase in an ami)able manner in order  to a*oid a protra)ted litigation3 WHEREAS, the "$C%&' PA!T PA!T# # had manifested manifested its willingnes willingnesss to be indemnifie indemnified d a reasonable *alue for whate*er damage, suffering or loss that it had sustained by reason of the n)ident and the F!"T PA!T# is liewise willing to meet the demands of the "$C%&' PA!T#3 WHEREAS, both parties ha*e )ome to a mutually benefi)ial arrangement as to the method of payment and mode of settlement of the )i*il aspe)t for its )on*enient and immediate disposition3 NOW THEREFORE, for and in )onsideration of the mutual )o*enants and agreements herein established, the parties hereto agree as follows:

AMOUNT OF DAMAGE

"$C%&' PA!T#, by its own independent and *oluntary assessment )ategori)ally e4presses that the only remaining balan)e of the damage, loss or suffering it in)urred as a result of the n)ident, amounts to FIFTY THOUSAND PESOS (PhP50,000.00)   whi)h the F!"T PA!T# is willing to shoulder and pay(

INDEMNITY

F!"T PA!T#, mindful of su)h loss and desirous to alle*iate "$C%&' PA!T#6s diffi)ult )ondition as a result of the n)ident agrees to pay the abo*ementioned amount in a manner and term pro*ided hereunder: /i

First half of the amount or TWENTY FIVE THOUSAND PESOS (PhP 25,000.00) shall be paid and gi*en to the "$C%&' PA!T# at the e4e)ution of this Agreement, and re)eipt of whi)h is hereunder  a)nowledged by the "$C%&' PA!T#3

/ii

The remaining balan)e of TWENTY FIVE THOUSAND PESOS (PhP 25,000.00) shall only be paid upon the a)tual re)eipt of the payment of the insuran)e )laim from the insuran)e )ompany by the F!"T PA!T# and7or  owner of the Car(

OTHER MATTERS

F!"T PA!T#6" payment shall not be taen to mean as an admission of any )riminal liability on its part( The e4e)ution of this Agreement by the parties howe*er, hereby absol*es and releases the F!"T PA!T# from any )i*il liability arising from the n)ident if any( "$C%&' PA!T# re)ogni5ed further that she had been )ompensated fully and ade8uately for any loss, suffering or in-ury that she might ha*e endured in )onne)tion with the n)ident and therefore undertaes not to file any )laim or suit against the F!"T PA!T# or any other person or entity related to or in*ol*ed in any manner with the n)ident, in)luding in parti)ular the owner of the Car( 9pon the e4e)ution of this Agreement, the Affida*it of 'esistan)e e4e)uted by the "$C%&' PA!T# shall already be filed in the Case and the "$C%&' PA!T# shall abide by the matters de)lared therein as well as the terms of the A)nowledgment, !elease and ai*er  e4e)uted by the "$C%&' PA!T# on ___________ and this Agreement( Both parties ha*e e4e)uted this Agreement by their own *oluntary a)t and deed and in their mutually agreed terms( Both parties warrant further, that they did so with the full understanding of its nature and its )onse8uen)e to the pending Case(

 _____________________  FIRST PARTY

____________________  SECOND PARTY 

 Assisted b!

Assisted b!

ATTY. ________________

ATTY. _________________ 

T&$""$":  ____________________

_____________________