Memorandum Circular No. 1012 (1977)
Requiring Approval By the Office of the President of All National Government Contracts Involving Two Million Pesos and Above.
MALACAÑAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
[ Memorandum Circular No. 1012, October 19, 1977 ]
REQUIRING APPROVAL BY THE OFFICE OF THE PRESIDENT OF ALL NATIONAL GOVERNMENT CONTRACTS INVOLVING TWO MILLION PESOS AND ABOVE.
Effective immediately, all contracts of national government offices, agencies and instrumentalities, including government-owned or controlled corporations involving two million pesos (?2,000,000.00) and above, awarded through public bidding or by negotiation, shall be subject to the approval of the President of the Philippines.
Any such contracts entered into without the approval required heroin shall be null and void and of no force and effect.
All orders, rules or regulations inconsistent herewith are hereby repealed or modified accordingly.
By order of the President:
(SGD.) JACOBO C. CLAVE
Presidential Executive Assistant
Manila, October 19, 1977