SAINT LOUIS UNIVERSITY

SCHOOL OF ACCOUNTANCY AND BUSINESS MANAGEMENT

MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement is made and executed by and between

The SAINT LOUIS UNIVERSITY, an educational institution organized and

existing under and by virtue of the laws of the Republic of the Philippines, with principal
office and address at A Bonifacio Street, Baguio City, Philippines, represented by its
President, REV. FR. GILBERT B. SALES, CICM, who is duly authorized to represent it
in this transaction, hereinafter referred to as the UNIVERSITY

- and –

BAGUIO WATER DISTRICT, a private institution organized and existing under

and by virtue of the laws of the Republic of the Philippines, with principal office and
address at 3 Purok BWD, Barangay Marcoville, Utility Road, Baguio City , represented
by ENGR. SALVADOR ROYECA, DIRECTOR, who is duly authorized to represent it in
this transaction hereinafter referred to as the COOPERATING AGENCY.

WITNESSETH:

WHEREAS, the School of Accountancy and Business Management of the

UNIVERSITY, offers various degree programs including Bachelor of Science in
Business Administration major in Financial Management (BSBA FINMAN) hereinafter
referred to as FINANCIAL MANAGEMENT, which requires exposure of students to the
financial management-related activities in a business setting to augment their
theoretical knowledge;

WHEREAS, the COOPERATING AGENCY is agreeable and willing to provide

the Financial Management students of the UNIVERSITY with actual hands-on in
financial management-related practices;

NOW THEREFORE, for and in consideration of the foregoing premises, the

UNIVERSITY and the COOPERATING AGENCY, do hereby agree as follows:

1. That the UNIVERSITY recommends qualified Financial Management students to

undergo internship with the COOPERATING AGENCY under the following terms
and conditions:

a. The UNIVERSITY shall designate a Faculty Coordinator who shall

supervise the student-intern and regularly monitor his/her performance
and attendance for the duration of the internship program. That the
Faculty Coordinator of the UNIVERSITY will coordinate with the
COOPERATING AGENCY’s various activities under this internship
program;

b. There will be no employer-employee relationship between the

COOPERATING AGENCY and the UNIVERSITY and between the
COOPERATING AGENCY and the student-intern;

c. The student-intern and the UNIVERSITY shall be personally responsible

for any and all liabilities for the damage to the properties or injury to third

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 persons, which maybe occasioned by their intentional or negligent acts
while in the course of internship;

d. There is nothing in this contract that implies any future employment rights
to the UNIVERSITY’s student-intern. The COOPERATING AGENCY
neither represents nor implies any obligation to the student-intern upon
completion of the internship program;

e. The student-intern and the Faculty Coordinator shall abide by the

COOPERATING AGENCY’s rules and regulation and comply with those
imposed for the internship program; otherwise he/she shall be excluded
from further participation; provided, however, that the UNIVERSITY and
the student-intern are given copies of the same at the beginning of the
internship program;

f. The Student-intern shall be assigned to the offices of the COOPERATING

AGENCY or in its branches as pre-approved by the UNIVERSITY. In no
case shall the Student-intern be allowed to be brought to or assigned in
locations outside the COOPERATING AGENCY’S main offices without the
prior approval of the UNIVERSITY President in writing.

g. This agreement may be terminated for convenience by the

COOPERATING AGENCY upon its prior written notice within reasonable
time to the UNIVERSITY or the Faculty Coordinator;

h. The UNIVERSITY may pull out any student-intern from the internship
program on reasonable grounds after a written notice about such pull out;

i. Each student-intern shall submit to the COOPERATING AGENCY detailed

reports and documentation with respect to the services performed by
him/her as may be periodically required by the COOPERATING AGENCY;

j. That the student-intern shall adhere to all the COOPERATING AGENCY’s

safety rules and regulations. Any safety violation committed by the
student-intern may result in the termination of his/her internship program;

k. That the student-intern shall provide his/her own necessary

uniform/appropriate attire for personal use within the whole duration of the
internship program;

2. That the COOPERATING AGENCY shall accommodate the student-intern for

the internship program subject to the following terms and conditions:

a. The COOPERATING AGENCY allows the student-intern to undergo the

internship program without any monetary consideration and subject to the
policies, procedures, and guidelines of the UNIVERSITY in accordance
with CHED Memo Order No 3, series of 2007;

b. The COOPERATING AGENCY shall have the right to screen or refuse

recommended Financial Management students by the UNIVERSITY to
undergo practicum with the COOPERATING AGENCY;

c. The COOPERATING AGENCY shall deploy to the different areas of the

COOPERATING AGENCY the student-intern recommended by the
UNIVERSITY to undergo the internship program. Specific assignments of
each student-intern shall be the COOPERATING AGENCY’s sole
discretion, which shall be subject to change from time to time upon written
notifications to the Faculty Coordinator;

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 d. The COOPERATING AGENCY shall assign personnel to take charge and
supervise the student-intern’s internship program. The practical and
related works that will be assigned to the student-intern will be along
his/her area of specialization;

e. The COOPERATING AGENCY shall accomplish the necessary forms

required by the UNIVERSITY in connection with the internship program of
the student-intern;

f. The COOPERATING AGENCY shall issue periodic evaluation reports and

a certificate of completion to the student-intern who successfully finished
the internship program; and

g. The COOPERATING AGENCY shall adopt and enforce rules that will
govern the conduct of the program. Said rules shall be made known to
the UNIVERSITY and the student-intern before the start of the internship
program.

3. That this Memorandum of Agreement shall be effective on AUGUST 2016

regardless of the date of execution hereof and shall continue thereafter up to
DECEMBER 2016; provided that the COOPERATING AGENCY and the
UNIVERSITY reserve the right to withdraw its participation in the agreement
upon written notice.

4. That neither party shall publicly announce the existence of this agreement, or
advertise or release hereto before, during and after the existence of this
agreement without securing the prior written consent of the other.

5. That this Memorandum of Agreement represents the complete and fully

integrated understanding of the parties and it is intended to incorporate and
supersede all previous negotiation, written or oral and may not be altered,
changed or amended or modified except by an agreement inwriting signed by the
parties.

IN WITNESS WHEREOF, the parties hereto sign this Memorandum of

Agreement this August, 2016 at Baguio City.

SAINT LOUIS UNIVERSITY BAGUIO WATER DISTRICT

By By

REV. FR. GILBERT B. SALES, CICM

President

Witnesses

DR. REYNALDO S. BAUTISTA, DBE, DM ALLAN FRANK B. SILVA, CPA, MSBA

Dean, School of Accountancy and Head, Department of Accountancy
Business Management