Revised 2012

Received by Accountancy Department on ___________________

MEMORANDUM OF AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This MEMORANDUM OF AGREEMENT entered into this ____ day of _________, 2014, in
the City of Cebu, Philippines, by and among:
UNIVERSITY OF SAN CARLOS (USC), a corporation duly organized and
existing under the laws of the Republic of the Philippines, with principal office at P. del
Rosario Street, Cebu City, Philippines, herein represented by its Vice President for
Academic Affairs, FR. ANTHONY S. SALAS, SVD, Filipino, of legal age, single and a
resident of _______________________, Philippines, hereafter referred to as the
HIGHER EDUCATION INSTITUTION (HEI),
-andXYZ CORPORATION, a corporation duly organized and existing under the
laws of the Republic of the Philippines, with principal office at
_______________________, Philippines, herein represented by its President, A. B. ,
Filipino, of legal age, married and a resident of _______________________,
Philippines, hereafter referred to as the HOST TRAINING ESTABLISHMENT
(HTE),
-andVIKTOR XENON O. LEQUIN, Filipino, of legal age, single and a resident of
_______________________, Philippines, hereafter referred to as the STUDENT
TRAINEE.
WITNESSETH:
WHEREAS, the time to narrow the gap between academe and industry should be done early on in
the Bachelor of Science in Accountancy, Bachelor of Science in Management Accounting or Bachelor of
Science in Accounting Technology program;
WHEREAS, for the learning process to impact on the day to day life of the student, there is a
need to understand the realities of the actual business environment; and
WHEREAS, CHED MEMORANDUM ORDER (CMO) No. 23 Series of 2009 mandates
execution of Memorandum of Agreement between HEI and HTE, and signing of training contract by the
STUDENT TRAINEE, HEI and HTE.
NOW THEREFORE, based on the above-stated premises, the parties have agreed to enter into
the following terms and conditions:

1. The practicum/on-the-job training is for a minimum of 200 hours, in no case less than four (4) hours
for each practicum day; it shall start on ______________ and end on _______________; moreover, the
practicum detailed schedules are to be agreed upon between the STUDENT TRAINEE and the HTE.

2. The STUDENT TRAINEE shall comply with the requirements stated in the Practicum Manual, more
particularly:
2.1. comply with the provisions of the contract, at all times with the rules and regulations of the HEI
and HTE;
2.2. complete the agreed duration of his/her internship;
2.3. submit a performance evaluation sheet and daily attendance sheet to his/her practicum adviser;
and
2.4. submit a practicum paper (including the weekly progress report and etc.) on the deadline set by
the practicum adviser.

3. The HEI shall:

3.1. coordinate with the HTE for effective monitoring of the practicum program;
3.2. maintain open communication with the HTE through the practicum adviser or chairperson of the
3.3.

Department of Accountancy; and

assign a practicum adviser who shall visit the HTE workplace, (HEI and HTE, using their best
effort, shall set in advance said visit so as not to disrupt work within the HTE.)

4. The HTE shall:

4.1. assign work to STUDENT TRAINEE in the areas related to accounting, auditing, finance and
4.2.

taxation;
assign a responsible employee from its workforce who will supervise the work of the STUDENT
TRAINEE;
maintain open communication with the HEI through its authorized representative;
fill up and accomplish the performance evaluation sheet and the daily attendance sheet which will
be signed and placed inside a sealed envelope by its responsible employee, and thereafter be
given to the STUDENT TRAINEE; and
provide a certification as to the number of hours worked by the STUDENT TRAINEE during
the course of the practicum.

4.3.
4.4.
4.5.

5. This MEMORANDUM OF AGREEMENT is for the period stated in paragraph 1 hereof.

Thereafter, the same is deemed terminated without any further action from the parties unless sooner
terminated by either the HEI or HTE. Such termination shall be made in writing stating the reason/s
thereon and shall be forwarded to the other party authorized representative.
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this ____ day of
_________, 2011, in Cebu City, Philippines.

VIKTOR XENON O. LEQUIN

STUDENT TRAINEE
UNIVERSITY OF SAN CARLOS
HEI
By:

XYZ CORPORATION
HTE
By:

FR. ANTHONY S. SALAS, SVD

Vice President Academic Affairs

A. B.
President

SIGNED IN THE PRESENCE OF:

1.

2.
DR. MELANIE DE OCAMPO
Asst. Dean (School of Business and Economics)

A C K N O W L E D G M EN T
REPUBLIC OF THE PHILIPPINES)
CITY OF CEBU/
BEFORE ME, this ____ day of_______________, 2012, personally appeared FR. ANTHONY
S. SALAS, SVD, with his CTC No. ________, issued on _________, at _________________, personally
known to me to be the same person who executed the foregoing instrument, and he acknowledged
to me that the same is his free and voluntary act and deed.
This instrument, consisting of two (2) pages, including this page whereon this acknowledgment is
written, has been signed on the left margin of each and every page thereof by the party and their witnesses,
and sealed with my notarial seal.
IN WITNESS WHEREOF, I have hereunto set my hand, the day, year and place above written.