Applicability of the Net Financial Contracting Capacity (NFCC) for the procurement of goods
Date
:
2002-07-31
Requesting Entity
:
Philippine Deposit Insurance Corporation
Issues Concern
:
Applicability of the Net Financial Contracting Capacity (NFCC) for the procurement of goods
Details
:
The Procurement Policy Board (“PPB”) and the Infrastructure Committee (“INFRACOM”) of the National Economic and Development Authority (“NEDA”) Board, during a meeting held on June 14, 2002, confirmed the applicability of the NFCC requirement both for civil works contracts and the procurement of goods.
It should be noted that the word “shall” is used in Sections 16.2.1 and 16.2.2 of the IRR of E.O. 40, when referring to the criteria for eligibility. As such, it is clear that the NFCC is a mandatory requirement for eligibility in the procurement of goods and civil works.
