Contracts Exempted from the Coverage of LOI No. 620 (s. 1977) and M.C. No. 1012 (s. 1977)
Letter of Instructions No. 653, issued on January 6, 1978, clarifies the scope of contracts that require prior approval from the President of the Philippines. It specifies that contracts related to financial, banking, and trading institutions, particularly those necessary for their primary operations, such as loans and asset transactions, are exempt from this requirement. The instructions focus on contracts pertaining to infrastructure programs and capital expenditures, as well as procurement of supplies for government entities. Additionally, any conflicting orders, rules, or regulations are repealed or modified accordingly.
Law Information
- Reference Number
- Letter of Instructions No. 653
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
January 6, 1978
LETTER OF INSTRUCTIONS NO. 653
| TO | : | All Heads of Departments, Bureaus, Offices, Agencies and Instrumentalities of the National Government, Including Government-Owned or Controlled Corporations |
| All Concerned |
For the purpose of implementing the provisions of Letter of Instructions No. 620, dated 25 October 1977 and Memorandum Circular No. 1012, dated 19 October 1977, the contracts mentioned therein which need prior approval of the President of the Philippines for their validity and effectivity, do not include contracts, agreements or arrangements entered into by financial, banking, and other similar institutions, as well as trading companies, in the prosecution of their primary purposes. Accordingly, contracts involving loans, acquisition and disposition of assets inherent in the functions of the entity involved, trading in gold, securities, and other financial instruments, as well as contracts of purchase, sale, and other arrangements of trading companies are not covered by Letter of Instructions No. 620 and Memorandum Circular No. 1012. In general, the contracts envisioned in said LOI and Circular are those in implementation of the infrastructure program and other similar capital expenditures, as well as the procurement of supplies, materials, or equipment for the use of the purchasing government entity. cd
All orders, rules and regulations inconsistent with this instructions are hereby repealed or modified accordingly.
DONE in the City of Manila, this 6th day of January, in the year of Our Lord, Nineteen Hundred and Seventy-Eight. casia
Cite This Law
Contracts Exempted from the Coverage of LOI No. 620 (s. 1977) and M.C. No. 1012 (s. 1977), Letter of Instructions No. 653, Jan 6, 1978 (Philippines)
Contracts Exempted from the Coverage of LOI No. 620 (s. 1977) and M.C. No. 1012 (s. 1977), Letter of Instructions No. 653 (Phil. 1978)
Related Laws
- Submission to the President for Approval of All Contracts Awarded by Infrastructure Agencies Involving P10 MillionLetter of Instructions No. 1012 • Apr 19, 1980 • Presidential Issuances
- Amending P.D. No. 1067-A (s. 1977) As AmendedPresidential Decree No. 1399 • Jun 2, 1978 • Presidential Issuances
- Amendments to LOI No. 521 (s. 1977)Letter of Instructions No. 732 • Aug 21, 1978 • Presidential Issuances
- Submission to the President for Approval of All Contracts Involving P2 Million and AboveLetter of Instructions No. 620 • Oct 25, 1977 • Presidential Issuances
- Review of All Government Contracts by the Government Corporate Counsel Prior to Approval of the PresidentLetter of Instructions No. 1096 • Dec 16, 1980 • Presidential Issuances
- Amendments to LOI No. 633 (s. 1977) Re: Local Government Equipment Acquisition LoanLetter of Instructions No. 1084 • Nov 20, 1980 • Presidential Issuances
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