(Name of Bank)
|CERTIFICATE OF ASSIGNMENT WITH RECOURSE|
Issue Date : ______________, 20__
FOR AND IN CONSIDERATION OF PESOS ______________________________________________ (P_____________)
________________________________________________ hereby assigns, conveys, and transfers with recourse
(Name of Assignor)
to ___________________________________________ the debt of ___________________________________________
(Name of Assignee) (Name of Principal Debtor)
to the Assignor, specifically described as follows:
(Description of Securities)
|Principal Debtor/s||Serial Number/s||Maturity Date/s||Face Value||Interest/Yield|
|TOTAL||P _____________||P _____________
(Signature of Assignee)
Duly Authorized Officer
NOT INSURED WITH THE PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC)
TERMS & CONDITIONS OF CERTIFICATE OF ASSIGNMENT WITH RECOURSE
1. No Pretermination
Assignor shall not pay nor repurchase subject security/ies before the maturity date thereof.
2. Liquidated Damages
In case of default, Assignor shall be liable, in addition to interest, for liquidated damages of (amount or %), plus attorney’s fees of (amount or %) and costs of collection in case of suit.
3. Delivery/Custody of Securities
( ) Physically delivered to Assignee
( ) Evidenced by Custodian Receipt No. __________________ dated _____________ issued by ______________________________________.
4. Separate Stipulations
( ) This Agreement is subject to the terms and conditions of __(describe document)__ dated________________, executed by __(name of party/ies)__ and made an integral part hereof.