Section 14. Signing of Memorandum of Agreements by the Accredited Dual Training System Agricultural, Industrial and Business Establishments, the Accredited Dual Training System Educational Institution/Training Center, and the Trainee. —

Before an individual establishment begins with an accredited education institution/training center and the trainee or his representative, the individual establishment shall provide the accredited educational institution/training center and the trainee with a copy of the signed agreement.

The memorandum of agreement shall set forth, among others, the following:

1. the training plan;

2. the nature and objective of the training;

3. the commencement and duration of the training period, including the total number of in-school and in-plant training hours;

4. the normal daily training hours;

5. the trainee's allowance and the rate to be applied, which in no case shall start below seventy-five percent (75%) of the applicable minimum daily wage for days spent in the establishments;

6. the rights and obligations of the parties concerned in addition to those provided in Sections 10, 11, and 12;

7. the definition of the status of the trainee according to Section 8 of this Act;

8. the conditions for the termination of the training agreement;

9. the performance, monitoring and evaluation system; and

10. such other essential particulars as would mutually benefit all parties concerned.