SERVICE AGREEMENT

Payment and Cashless Technology Implementation

This Service Agreement ("Agreement") is made and entered into on this 6th day of March 2026, by and between:

Oslob Cebu Paragliding Development (OCPD), with principal office located at:

hereinafter referred to as the “Client.”

AND

Argonar Software OPC, a corporation duly organized and existing under the laws of the Republic of the Philippines, with principal office located at:

VCC BUILDING H. JOAQUINO ST., COR. GIL TUDTUD MABOLO,
CEBU CITY, Cebu City, Philippines, 6000

hereinafter referred to as the “Service Provider.”

The Client and the Service Provider may collectively be referred to as the “Parties.”

1. PURPOSE OF THE AGREEMENT

The Client hereby engages the Service Provider to design, develop, and implement payment and cashless technology systems for the Client’s operations, including but not limited to:

The Service Provider agrees to provide the above services under the terms and conditions stated in this Agreement.

2. CONTRACT PRICE

The total contract price for the services under this Agreement shall be:

Two Hundred Thousand Philippine Pesos (PHP 200,000.00)

This amount shall be payable through progress billing subject to the conditions stated below.

3. PAYMENT TERMS (PROGRESS BILLING)

  1. Payments to the Service Provider shall be made through progress billing based on the implementation and operation of the payment system.
  2. The Service Provider shall be entitled to receive payment only when income or revenue generated through the implemented payment system is received in the official bank account of the Client (OCPD).
  3. The amount payable to the Service Provider shall be released from the incoming revenues deposited into the Client’s bank account until the full contract amount of PHP 200,000.00 has been fully paid.
  4. The Client agrees to release payments within five (5) to ten (10) business days after confirming the receipt of funds and the corresponding billing submitted by the Service Provider.

4. SCOPE OF WORK

The Service Provider shall:

5. SYSTEM ACCEPTANCE, SERVICE LEVEL, AND LIMITED MONEY-BACK GUARANTEE

Upon completion of the system implementation, the platform shall undergo an Acceptance Testing Period of fifteen (15) days during which the Client may evaluate whether the system functions according to the intended operational requirements.

If defects or failures are identified, the Service Provider shall be given reasonable time to correct or repair the system at no additional cost.

Interruptions caused by internet outages, banking systems, payment providers, or external infrastructure shall not be considered failure of service.

If the system remains non-functional after reasonable attempts to resolve the issue, the Client may terminate the Agreement through written notice.

In such case, the Service Provider shall provide a limited refund only for payments already received. The refund shall not exceed the total amount actually paid by the Client.

6. CONFIDENTIALITY

Both Parties agree to maintain the confidentiality of proprietary, financial, technical, and operational information obtained during the course of this Agreement.

7. TERMINATION

Either Party may terminate this Agreement upon written notice of thirty (30) days. Any unpaid progress billing for work already performed shall remain payable.

8. GOVERNING LAW

This Agreement shall be governed by the laws of the Republic of the Philippines.

9. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties. Any amendments must be made in writing and signed by both Parties.

10. SIGNATURES

IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first written above.

For OCPD (Client)
Name
Position
Date
For OCPD (Client) – Approval
Name
Position
Date
For Argonar Software OPC (Service Provider)
Name
Position
Date

Witnesses

Name

Name