Scholarship Memorandum of Agreement
Know all men by these presents:
This Memorandum of Agreement (hereinafter called “Agreement”) is made and executed this 14th day of June 2007 by and between
TOTAL (PHILIPPINES) CORPORATION, a duly organized corporation with business address at the 31/F Export Plaza corner Sen. Gil Puyat Sr. and Don Chino Roces Avenues, Makati City, represented herein by Ms. Chelo Rosanes (hereinafter referred to as “TOTAL”);
The PILLAR STATE UNIVERSITY, a duly organized institution and operating under the laws of the Republic of the Philippines, with address at Poblacion, Pilar, Bataan and represented by its president, Dr. Manuel Manansala, (hereinafter referred to as “PSU”).
WHEREAS, TOTAL is a duly organized business engaged in the marketing of refined petroleum products;
WHEREAS, TOTAL has committed to provide the tuition fee for the three-year diploma program of ten (10) students (hereinafter referred to as the “Scholars”) – three (3) from Electrical Engineering Technology, four(4) from Electronics Engineering Technology and three (3) from the Mechanical Engineering Technology Course;
WHEREAS, PCU is a state college mandated to provide higher professional, technical and special instruction and promote technological studies.
WHEREAS, PCU has the capability to train the Scholars and is willing to undertake the program;
WHEREAS, PCU will select the Scholars from the top three (3) students each enrolled in the Electrical Engineering Technology, Electronics Technology, and Mechanical Engineering Technology Courses;
THEREFORE, for and in consideration of the foregoing premises and the terms and consideration hereunder enumerated, the Parties to the Agreement hereby agree, that;
1. TOTAL shall:
a. Support ten(10) students in a three-year diploma program of the following courses at PCU” such as Electrical Engineering Technology, Electronics Engineering Technology, and Mechanical Engineering Technology
b. Transfer the amount of Two Hundred Fifty Thousand Pesos (Php 250,000.00) to PCU for the tuition fee of the ten (10) scholars for school year June 2007 to April 2008 (see Annex 2 for schedule of release of payment);
c. Provide a venue for their Apprenticeship Program of the top Scholar of each course on the 3rd year of their training; and
d. Monitor the implementation of the program as well as the utilization of fund.
2. THE PCU shall:
a. Provide a list with accompanying documents certifying the scholastic records of the top three (3) students enrolled each in the following courses for school year June 2007 to April 2008: Electrical Engineering Technology, Electronics Engineering Technology, and Mechanical Engineering Technology;
b. Prepare and submit a work and financial plan as a requirement to the transfer of funds;
c. Ensure the proper documentation of the financial assistance (such as submission of the official receipt, summary of disbursement, etc.) in accordance with generally accepted accounting principles;
d. Submit a quarterly report of the Scholars’ training progress to TOTAL;
e. Provide counseling to the scholars and their family, as may be necessary, to help ensure that that scholars do not drop out of the training program; and
f. Within sixty (60) days after completion of the program, PCU shall submit to TOTAL financial statements, certificate of program completion and acceptance by the beneficiary or funding agency.
This Agreement shall take effect immediately upon signing of the document by the official representatives of the TOTAL and PCU, unless sooner terminated in writing by TOTAL,
IN WITNESS WHEREOF, the parties have executed this Memorandum of Agreement as of the date first above written.
DR. MANUEL MANANSALA
Pillar State University
MS. CHELO ROSANES
TOTAL (PHILIPPINES) CORPORATION
Signed in the presence of:
Pillar State University
Senior Terminal Manager
TOTAL (Philippines) Corporation