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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 707 -
PRESCRIBING REGULATIONS AND INSTRUCTIONS ON INTERNAL COMPETITIVE
BIDDING FOR MAJOR INDUSTRIAL PROJECTS AND MANDATORY GENERAL CONTRACT
TERMS AND CONDITIONS APPLICABLE THERETO PURSUANT TO PRESIDENTIAL DECREE
NO. 1764
WHEREAS, there is an urgent
necessity for Philippine Government to ensure that all major industrial
projects, which require guarantees and/or financing from government
financial institutions, are able to obtain optimum prices through
competitive international bidding; and in order to protect the interest
of the owner and the government financial institution as guarantor or
financier of such contracts, through the mandatory application of
general contract terms and conditions; Since 19.07.98.
WHEREAS, Presidential Decree No. 1764 directs the Ministry of Industry
with the approval of the President to formulate regulations for
competitive bidding and uniform terms and conditions relative to
contracts to be awarded for industrial plants or any part thereof, with
a total value exceeding $5 million, which are subject to the provision
of the said Decree;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of
the Philippines, by virtue of the powers vested in me by the
Constitution, do hereby approve the attached Regulations and
Instructions on international competitive bidding as well as uniform
general terms and conditions in connection with contracts to be awarded
under such international bidding. Incorporation of such terms and
conditions shall be mandatory, unless otherwise authorized by the terms
of these Regulations and Instructions.
The Board of Investment shall implement the attached regulations as
well as the uniform terms and conditions of contracts to be awarded
within the coverage of such regulations. The Board of Investments shall
coordinate with all government financial institutions to ensure
effective implementation of this Executive Order.
The attached rules and regulations shall take effect 10 days after the
publication in the Official Gazette or in a newspaper of general
circulation, whichever comes earlier.
Done in the City of Manila,
this 20th day of July, in the year of Our Lord, nineteen hundred and
eighty-one.
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