The Affidavit of Default is a essential legal instrument in the Philippines used to formally document and declare instances of default in contractual obligations. This document is particularly crucial in the Philippine legal system where formal documentation of defaults is required for various legal remedies. The affidavit must be executed before a notary public and requires specific components including the affiant's personal information, detailed description of the default, and supporting evidence. It serves multiple purposes including initiating collection proceedings, supporting court cases, or triggering contractual remedies. The document is governed by Philippine civil law and must comply with the Rules of Court and notarial requirements. An Affidavit of Default is commonly used in financial transactions, property dealings, and general commercial agreements where one party needs to establish another's failure to meet obligations.
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1. Caption and Title: Identifies the affiant and the jurisdiction where the affidavit is being executed
2. Personal Information: States the affiant's full name, age, citizenship, and address
3. Competency Declaration: Affirms the affiant's legal capacity to execute the affidavit
4. Background of Agreement: Describes the underlying agreement or obligation that is the subject of the default
5. Statement of Default: Details the specific nature of the default, including dates and circumstances
6. Attempts at Resolution: Documents efforts made to resolve the default or contact the defaulting party
7. Verification: Standard verification clause stating that the contents are true and correct
8. Jurat: Notarial section where the affiant swears to the truth of the contents
1. Demand History: Details previous formal demands made to the defaulting party, used when multiple attempts at collection have been made
2. Calculation of Amounts: Detailed breakdown of outstanding amounts, including interest and penalties, used when the default involves complex financial obligations
3. Third Party Confirmations: Statements from relevant third parties confirming aspects of the default, used when external verification is available
4. Legal Compliance Statement: Additional statements confirming compliance with specific laws or regulations, used when required by particular industries or circumstances
5. Relief Sought: Specific statement of the remedy being sought, used when the affidavit will be used in legal proceedings
1. Schedule A - Copy of Agreement: Certified true copy of the original agreement or contract that is the subject of default
2. Schedule B - Default Evidence: Documentary evidence of the default (e.g., bounced checks, payment records, correspondence)
3. Schedule C - Demand Letters: Copies of formal demands sent to the defaulting party
4. Schedule D - Calculation Sheet: Detailed computation of outstanding obligations, including principal, interest, and penalties
5. Schedule E - Supporting Documents: Additional relevant documentation such as photos, receipts, or third-party certifications
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