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This Co-Borrower Agreement is designed for use in the Philippine jurisdiction when multiple parties wish to jointly take on a loan obligation. The document is commonly used in various lending scenarios, including housing loans, business loans, or personal loans where multiple borrowers combine their income or assets to qualify for larger loan amounts or better terms. It establishes joint and several liability among co-borrowers, meaning each party is fully responsible for the entire loan amount. The agreement complies with Philippine banking regulations, including BSP guidelines and the Truth in Lending Act, and includes mandatory disclosures, detailed loan terms, repayment schedules, and default provisions. It's particularly relevant when family members, business partners, or related parties want to share loan responsibilities, providing lenders with additional security through multiple responsible parties.

1. Parties: Identifies all parties to the agreement including the primary borrower, co-borrower(s), and lender

2. Background: Sets out the context of the agreement, including the purpose of the loan and the relationship between the parties

3. Definitions: Defines key terms used throughout the agreement

4. Loan Details: Specifies the loan amount, interest rate, term, and repayment schedule

5. Co-Borrower Obligations: Details the joint and several liability of co-borrowers and their specific responsibilities

6. Representations and Warranties: Statements of fact and promises made by both primary borrower and co-borrower(s)

7. Payment Terms: Specifies how and when payments must be made, including payment allocation between co-borrowers

8. Default Provisions: Defines events of default and their consequences for all parties

9. Rights and Remedies: Outlines the lender's rights and remedies in case of default

10. Communications: Specifies how notices and other communications should be made between parties

11. Governing Law: Establishes that Philippine law governs the agreement

12. Dispute Resolution: Sets out procedures for resolving disputes between parties

13. General Provisions: Includes standard boilerplate clauses such as severability and entire agreement