REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE MANILA

10 November 1987

DEPARTMENT ORDER NO.

12D 4

Pursuant to the implementation of the Economic Recovery Technical Assistance Project and based on the approved Terms of Reference for the proposed study on the Philippine Export and Foreign Loan Guarantee Corporation based on approved terms of reference, there is hereby constituted a three-man ad-hoc committee to be composed of a representative each from the Department of Finance as chairman, and from the Central Bank of the Philippines and Philippine Export and Foreign Loan Guarantee Corporation as members, as may be designated by the respective heads of the agencies concerned. The Committee shall have the following functions and responsibilities: 1. Formulating guidelines for the selection of the consultant to undertake the study in accordance with the agreed terms of reference, including the setting of qualifications criteria and the terms of reference for the engagement; 2. Preparing a list of consultants to be invited to participate, from which one will be selected to undertake the proposed study; 3. Selecting the consultant to be contracted, provided that (a) in the selection process the Committee may not necessarily be bound to make the award to the lowest bidder but to the best qualified, taking and (b) the selection shall be subject to the approval of the Secretary of Finance; it. Monitoring and supervising the work of the consultant contracted, and assisting him in securing such information as may be required in the study; Receiving and reviewing the consultant's completed study, 5. determining its acceptability, and certifying to the Department of Finance the acceptance of the study in order to authorize the payment of the study from authorized sources. subject to existing budgetary rules and regulations; and 6. Transmitting the study together with the Committee's comments to the heads of the agencies represented in the Committee.

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Funding for the study will be made available from the Technical Assistance Program loan from the World Bank, as administered by the Department of Finance. The selection process should therefore be in conformity with World Bank procedures. This Department Order is effective immediately.

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VICENTE IJAYME _Secretary if Finance ,x. Nomin e `^t

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