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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 267
TO
: The Governor, Central Bank
The Secretary of Industry
The Chairman, Board of Investments
Reports reaching me indicate that contracts of buyers of our export products are being disregarded or violated, with the foreign buyers alleging the economic difficulties facing them as reasons for such violations. This is allegedly true with contracts entered into by our exporters with Japanese, American and European buyers.
In order that the Government may be able to help our exporters who are victims of these alleged violations of existing contracts, it is necessary to inquire and determine the extent of these violations. In the process, you shall determine means of preventing such violations as well as measures or remedies to protect the interest of local exporters or suppliers and that of our country.
Done in the City of Manila, this 2nd day of April, in the year of Our Lord, nineteen hundred and seventy-five.
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Since 19.07.98.
