Purchase Order Auditor in Philippines Manila –Free Word Template Download with AI

3.1 Payment Terms: Payment for the services rendered by the Auditor shall be made in Philippine Pesos (PHP) via bank transfer to the account designated by the Service Provider. Payment shall be released in three (3) equal installments: thirty percent (30%) upon execution of this Purchase Order, forty percent (40%) upon submission of the interim audit report, and thirty percent (30%) upon delivery of the final audited financial statements. All payments are subject to the applicable 12% withholding tax under the National Internal Revenue Code of the Philippines (Republic Act No. 10963) as amended.

3.2 Jurisdiction and Governing Law: This Purchase Order and all matters arising from the engagement of the Auditor shall be governed by and construed in accordance with the laws of the Republic of the Philippines. Any disputes arising hereunder shall be resolved through the courts of competent jurisdiction in Philippines Manila, specifically the Regional Trial Court of Makati City or the City of Manila, as applicable. The parties agree that all proceedings shall be conducted in the English language.

3.3 Confidentiality: The Auditor shall maintain strict confidentiality over all financial records, trade secrets, proprietary data, and business information of the Buyer obtained during the course of the audit engagement in Philippines Manila. This obligation of confidentiality shall survive the termination or expiration of this Purchase Order for a period of five (5) years, in compliance with the Data Privacy Act of 2012 (Republic Act No. 10173).

3.4 Professional Standards: The Auditor represents and warrants that all personnel assigned to this engagement are duly licensed Certified Public Accountants (CPAs) registered with the Professional Regulation Commission (PRC) of the Philippines and are in good standing with the Board of Accountancy. The Auditor shall perform all audit procedures in strict adherence to Philippine Standards on Auditing (PSA) issued by the Financial Reporting Standards Council (FRSC) and the Philippine Institute of Certified Public Accountants (PICPA).

3.5 Deliverables and Acceptance: All deliverables produced by the Auditor shall be submitted in both hard copy (three (3) original sets) and electronic format (PDF and editable Excel) to the Buyer's principal office located in Philippines Manila. The Buyer shall have fifteen (15) calendar days from the date of receipt to review and accept or reject each deliverable. Failure to respond within the stipulated period shall constitute deemed acceptance.

3.6 Cancellation and Termination: Either party may cancel this Purchase Order by providing thirty (30) days prior written notice to the other party. In the event of cancellation by the Buyer, the Auditor shall be entitled to compensation for all services rendered and expenses incurred up to the date of cancellation. In the event of cancellation by the Auditor without justifiable cause, the Auditor shall refund all advance payments received and shall be liable for liquidated damages in the amount of ten percent (10%) of the total contract value.

3.7 Force Majeure: Neither party shall be liable for failure to perform obligations under this Purchase Order due to acts of God, natural disasters (including typhoons, earthquakes, and volcanic eruptions common in the Philippines Manila region), government-imposed lockdowns, pandemics, or other events beyond the reasonable control of the affected party, provided that the affected party gives prompt written notice to the other party.

3.8 Anti-Corruption and Compliance: The Auditor certifies that it shall comply with all anti-corruption laws of the Philippines, including the Anti-Graft and Corrupt Practices Act (Republic Act No. 3019) and the Anti-Money Laundering Act (Republic Act No. 9160, as amended by Republic Act No. 10343). The Auditor shall not solicit or accept any form of gratuity, kickback, or improper benefit in connection with this Purchase Order.