Recital

 

  1. NAME OF THE JOINT VENTURE​
    Unless otherwise agreed upon by the parties hereto in writing, the name of the joint venture shall be DBP Insurance Brokerage Incorporated ("DIBI"). In all communications, informational and marketing media, the phrase "A Joint Venture with Alexander Forbes Philippines Risk Services, inc. " shall be added after DIBI and the company logo, or at any appropriate place. Such of incorporation June 21, 2006.  Note: "Lockton Philippines Insurance and Reinsurance Brokers Inc." is the new name of "Alexander Forbes Philippines Risk rvices, Inc."

  2. ORGANIZATION
    DIBI shall be organized and registered as a corporation under the laws of the Republic of the Philippines, In addition, it shall register and secure a license as an insurance brokerage firm under the procedures set forth in relevant laws and regulations of the Republic of the Philippines. The Parties hereto shall closely cooperate and consult with each other with respect to the procedures and particular of such organization, registration, and licensing, DIBI shall initially hold office at the DBP Building, Sen. Gil Puyat cor. Makati Avenue, Makati City, Philippines, until DIBI's Board of Directors shall determine the principal office.