Amending Section 2 of P.D. No. 454 Re: Adjustment of Contract Prices for Government Projects
Presidential Decree No. 906, issued on March 19, 1976, amends Section 2 of Presidential Decree No. 454 concerning contract price adjustments for government projects. The decree stipulates that initial adjustments to contract prices cannot occur earlier than six months after the bidding date, with subsequent readjustments allowed every six months. This aims to establish a structured timeline for price adjustments, ensuring consistency and predictability in government contracts. The decree was enacted under the authority of President Ferdinand E. Marcos.
Law Information
- Reference Number
- Presidential Decree No. 906
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
March 19, 1976
PRESIDENTIAL DECREE NO. 906
AMENDING SECTION 2 OF PRESIDENTIAL DECREE NO. 454 ENTITLED AMENDING THE PROVISIONS OF SECTION 10 (b) OF REPUBLIC ACT NO. 5979 TO AUTHORIZE ADJUSTMENT OF CONTRACT PRICES FOR GOVERNMENT PROJECTS UNDER CERTAIN CONDITIONS
I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order:
SECTION 1. Section 2 of Presidential Decree No. 454 is hereby amended to read as follows:
"Sec. 2. Notwithstanding the provisions of Section 3 hereof, the initial adjustments of contract prices of projects covered by this decree shall not be earlier than six (6) months after the date of bidding. Readjustments on the unit prices shall be made every six months thereafter."
DONE in the City of Manila, this 19th day of March, in the year of Our Lord, Nineteen Hundred and Seventy-Six.
Cite This Law
Amending Section 2 of P.D. No. 454 Re: Adjustment of Contract Prices for Government Projects, Presidential Decree No. 906, Mar 19, 1976 (Philippines)
Amending Section 2 of P.D. No. 454 Re: Adjustment of Contract Prices for Government Projects, Presidential Decree No. 906 (Phil. 1976)
Related Laws
- Amendments to Section 10 (B) of R.A. No. 5979Presidential Decree No. 454 • May 14, 1974 • Presidential Issuances
- Submission of the Committee on Price Adjustment Report to the NEDALetter of Instructions No. 218 • Oct 14, 1974 • Presidential Issuances
- Amending Section 10(b) of R.A. No. 5979Presidential Decree No. 459 • May 16, 1974 • Presidential Issuances
- Amending Section 7 of P.D. No. 6-A Re: Undertaking of Educational Development ProjectsPresidential Decree No. 162 • Mar 29, 1973 • Presidential Issuances
- Amending Section 1 of P.D. No. 897 Re: Prices of Locally Grown Virginia Leaf TobaccoPresidential Decree No. 920 • Apr 5, 1976 • Presidential Issuances
- Amending Section 6 of P.D. No. 1630Presidential Decree No. 1826 • Jan 16, 1981 • Presidential Issuances
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