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The New Government Procurement Act of 2024, officially designated as Republic Act No. 12009, is a Philippine law which prescribes the necessary rules to address the lack of transparency and competition in government procurement, eliminate collusion and interference, and lessen the delay in the procurement process by creating the Government Procurement Policy Board (GPPB) and PhilGEPs.
For example, a collateral contract is formed when one party pays the other party a certain sum for entry into another contract. A collateral contract may be between one of the parties and a third party. It can also be epitomized as follows: a collateral contract is one that induces a person to enter into a separate "primary" contract.
The discussed advantage is an administrative costs reduction again as tender procedure do not have to be duplicated for agreed period of time. [22] On the other hand, the term "Winner's curse" is associated with framework agreement as there is a price uncertainty in time. [32] All of these three procurement strategies are not mutually exclusive.
The Philippines is a mixed law jurisdiction, shaped primarily by Spanish civil law and American common law as codified in the Philippine Civil Code. The Philippine Civil Code defines a contract as "a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service". [222]
Implementing the Philippine schedule of tariff commitments under the Philippines-Korea Free Trade Agreement, and modifying the rates of import duty on certain imported articles December 23, 2024 [79] 81 Reorganizing the National Security Council: December 30, 2024 [80]
The Laurel–Langley Agreement was a trade agreement signed in December 15, 1954 [1] [2]: 43 between the United States and its former colony the Philippines. It was signed by Senator Jose P. Laurel and James Langley. [2]: 43 The agreement took effect in 1955 after approval from both Philippine Congress and U.S. Congress. [1]
A Contractor under a lump sum agreement will be responsible for the proper job execution and will provide its own means and methods to complete the work. [ 6 ] With a lump sum contract or fixed-price contract , the contractor assesses the value of work as per the documents available, primarily the specifications and the drawings.
Pages in category "Free trade agreements of the Philippines" The following 2 pages are in this category, out of 2 total. This list may not reflect recent changes .