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The Money Received Agreement is a crucial document used in Philippine business and financial transactions to formally acknowledge the receipt of funds and establish the terms surrounding the payment. This document type is commonly used in various scenarios, including business transactions, loan disbursements, investment receipts, or advance payments for goods and services. The agreement must comply with Philippine legal requirements, including those set forth in the Civil Code of the Philippines and relevant financial regulations. It serves as both a proof of payment and a legal record that can protect both parties' interests in case of future disputes. The document typically includes comprehensive details about the transaction, including the parties involved, amount received, purpose of payment, and any specific conditions or obligations attached to the funds.

1. Parties: Identifies and provides complete details of the party providing the money (Payor) and the party receiving the money (Payee), including their full legal names, addresses, and tax identification numbers

2. Background: Brief context explaining the purpose of the payment and the circumstances leading to this agreement

3. Definitions: Defines key terms used in the agreement for clarity and legal certainty

4. Acknowledgment of Receipt: Clear statement of the exact amount received, currency, date of receipt, and form of payment (cash, check, wire transfer, etc.)

5. Purpose of Payment: Detailed explanation of what the payment is for and any specific allocation of funds if applicable

6. Representations and Warranties: Statements by the Payee confirming the receipt of funds and authority to enter into the agreement

7. Tax Implications: Acknowledgment of tax obligations and responsibilities related to the received amount

8. Governing Law: Specifies that Philippine law governs the agreement and its interpretation

9. Execution: Signature block with space for signatures, dates, and witnesses as required