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Lynnedelacruz
CIVLAWREV1
Atty. Legaspi
Republic of the Philippines
Supreme Court
Manila
SECOND DIVISION
SHINRYO (PHILIPPINES) COMPANY,
INC.,
Petitioner,
- versus -
RRN INCORPORATED,
*
Respondent.
G.R. No. 172525
Present:
CARPIO, J., Chairperson,
VELASCO, JR.,
**
LEONARDO-DE CASTRO,
***
PERALTA, and
MENDOZA, JJ.
Promulgated:
October 20, 2010
x-----------------------------------------------------------------------------------------x
DECISION
PERALTA, J.:
This resolves the Petition for Review on Certiorari under Rule 45 of
the Rules of Court, praying that the Decision
[1]
of the Court of Appeals
(CA) dated February 22, 2006, affirming the Decision of the Construction

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Lynnedelacruz
CIVLAWREV1
Atty. Legaspi
Industry Arbitration Commission (CIAC), and the CA Resolution
[2]
dated
April 26, 2006, denying herein petitioner's motion for reconsideration, be
reversed and set aside.
The facts, as accurately narrated in the CA Decision, are as follows.
Petitioner Shinryo (Philippines) Company, Inc.
(hereinafter petitioner) is a domestic corporation
organized under Philippine laws. Private respondent
RRN Incorporated (hereinafter respondent) is likewise a
domestic corporation organized under Philippine laws.
Respondent filed a claim for arbitration against
petitioner before CIAC for recovery of unpaid account
which consists of unpaid portions of the sub-contract,
variations and unused materials in the total sum
of P5,275,184.17 and legal interest in the amount
of P442,014.73. Petitioner filed a counterclaim for
overpayment in the amount of P2,512,997.96.
The parties admitted several facts before the
CIAC. It was shown that petitioner and respondent
executed an Agreement and Conditions of Sub-contract
(hereafter Agreement signed on June 11, 1996 and June
14, 1996, respectively. Respondent signified its
willingness to accept and perform for petitioner in any of

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Republic of the Philippines Supreme Court Manila SECOND DIVISION     SHINRYO (PHILIPPINES) COMPANY, INC.,                                      Petitioner,       - versus -                 RRN INCORPORATED,*                                     Respondent. G.R. No. 172525   Present:   CARPIO, J., Chairperson, VELASCO, JR.,** LEONARDO-DE CASTRO,*** PERALTA, and MENDOZA, JJ.   Promulgated:      October 20, 2010 x-----------------------------------------------------------------------------------------x DECISION PERALTA, J.:           This resolves the Petition for Review on Certiorari under Rule 45 of the Rules of  Court, praying that the Decision[1] of the Court of Appeals (CA) dated February 22, 2006, affirming the Decision of the Construction Industry Arbitration Commission (CIAC), and the CA Resolution[2] dated April 26, 2006, denying herein petitioner's motion for reconsideration, be reversed and set aside.          The facts, as accurately narrated in the CA Decision, are as follows.            Petitioner Shinryo (Philippines) Company, Inc. (hereinafter petitioner) is a domestic corporation organized under Philippine laws.  Private respondent RRN Incorporated (hereinafter respondent) is likewise a domestic corporation organized under Philippine laws.               Respondent filed a claim for arbitration against petitione ...
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