30 Apr 2023
Procurement 101: What is meant by Approved Budget for the Contract (ABC)?
What is an Approved Budget for the Contract? According to the 2016 Revised Implementing Rules and Regulations (IRR) of Republic Act No. 9184: An Approved Budget for the Contract (ABC) refers to the following: For National Government Agencies (NGAs) – ABC refers to the budget for the contract duly approved by the Head of Procuring Entity (HoPE), as provided for in the General Appropriations Act (GAA), continuing, and automatic appropriations. For Government-owned and Controlled Corporations (GOCCs), Government Financial Institutions (GFIs) and State Universities and Colleges (SUCs) – ABC refers to the corporate budget for the contract approved by the governing...
