CONTRACT TO SELL

ON CONSIGNMENT BASIS

KNOW ALL MEN BY THIS PRESENTS:

This Sale of Goods on Consignment Agreement (“Agreement”) is entered

and executed by and between:

GRAINSMARK RICE CORPORATION, a corporation duly organized and

existing under by virtue of the laws of the Philippines, with branch office
address of business at 111, Vito Cruz, Mindanao Avenue, herein
represented by its President, FRUZAN HERNANDEZ of legal age,
Filipino, single and with office address at 1714 Ma. Clara Street, Barangay
486 Sampaloc City, Manila, hereinafter referred to as the LESSEE;

- and –

ARANETA TRADING, a sole proprietorship, with office address at the

Ground Floor, PICC Complex, Taft Avenue, Manila, represented herein by
its Owner, ERIKHA ARANETA, and herein referred to as the Buyer.

WITHNESSETH:

WHEREAS, Seller is engaged in the business of production, consigning

and selling rice in various places in the Philippines;

WHEREAS, Seller desires to offer high quality varieties of rice through

consignment basis;
WHEREAS, Consignee accepts the said offer;

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

and the terms conditions hereunder enumerated, the parties this Agreement
hereby agree,
that:

CONSIGNMENT OF GOODS AND DELIVERY

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 1. The Seller shall undertake to supply 500 Sacks of Jasmine Rice, with
the following particulars:
1. One (1) sack is equivalent to 52 kilos
2. Price per sack: Php 1,800.0

This undertaking a contract of sale on consignment basis, and shall deliver

the Goods at the warehouse of the buyer. The Seller upon receipt of the
Goods shall store them carefully and properly in Buyer’s warehouse to
protect them from any loss, damage or deterioration. The Buyer shall
designate the Goods as the property of the Seller by a conspicuous notice at
the Buyer’s warehouse, and shall perform all acts required by law to protect
the rights of the Seller to the Goods. The Buyer, from and after time it
receives the Goods, shall pay all expenses incident thereto, including all
expenses of handling, storage, selling and delivering to customers. Buyer
shall at all times observe Sale’s rules and procedure with respect to the
Goods.

Rendition of Deposit
The Buyer shall render a deposit amounting to Php 50,000.00 for the
security of payment.

TITLE TO GOODS
The goods shall remain seller’s property until sold to buyer’s customers,
entitled to the proceeds of the sales shall vest in and belong to the Seller
and be held in trust for Buyer’s benefit until accounted for and remitted to
the Seller.

LOSS OR DAMAGES TO GOODS

Seller shall be responsible to and shall reimburse to the buyer for all loss
and expenses to buyer resulting from damage to and destruction of the
Goods, or from levy and attachment for any Court process or lien thereon
while in Seller’s possession, and until such time as the Goods pass from
Seller by reason of Sale thereof and the proceeds of sale have been
accounted for and remitted to the Seller.

REPORT OF SALES AND PAYMENT

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The payment shall be made not later than 15 th of the month, the Buyer shall
make a written report to the Seller, which includes the listing of the Sales.

RECORDS
The Buyer shall keep of true record of all goods in its possession under this
Consignment Agreement, and shall give the Seller the right to inspect the
Goods.

BREACH OF CONTRACT
Any breach of the provisions of this contract shall be tantamount to the
termination of this contract.

TERM AND TERMINATION

The term of this Agreement 20th of October 2018 and shall remain in force
until 20th November 2018.

FLACTUATION CLAUSE: In case an extraordinary inflation or deflation

of the currency the value of the goods at the time of the execution of the
contract shall binding or the value of the currency at the time of the
establishment of the obligation shall be the basis of the payment.

ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES)
_________________________) SS.
BEFORE ME, a Notary Public, this 20th day of OCTOBER 2018,
personally appeared the following:
NAME PASSPORT
DATE/PLACE ISSUED
FRUZAN HERNANDEZ AF 99998888 DFA MANILA/
SEPT 10,2020
ERIKHA ARANETA AR 93737383 DFA MANILA/
DEC 29,2021

This Instrument, consisting of 3 page/s, including the page on which this

acknowledgement is written, has been signed on the left margin of each and
every page thereof by the concerned parties and their witnesses, and sealed

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with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand the day, year and
place above written.

Notary
Public
Doc No. 1234 ATTY. LEILANIE
BERNADETTE C. CABRAS
Page No. 12 ROLL OF ATTY
NO. 53733
Book No 33 IBP LIFETIME
No. 111111
Series of 2018