| CONTACT: |
| Supreme Court of the Philippines Library Services, Padre Faura, Ermita, Manila, Philippines 1000 |
| (632) 8524-2706 |
| libraryservices.sc@judiciary.gov.ph |
October 20, 2016
MEMORANDUM OF UNDERSTANDING BETWEEN THE DEPARTMENT OF FINANCE OF THE REPUBLIC OF THE PHILIPPINESAND THE MINISTRY OF COMMERCE OF THE PEOPLE'S REPUBLIC OF CHINA ON SUPPORTING THE CONDUCT OF FEASIBILITY STUDIES FOR MAJOR PROJECTS
In order to support the feasibility studies for major projects, the Department of Finance of the Republic of the Philippines and the Ministry of Commerce of the People's Republic of China have reached the following understanding:
Article 1
The Ministry of Commerce of the People's Republic of China (hereinafter referred to as “Chinese side") hereby agrees to make, available to the Department of Finance of the Republic of the Philippines (hereinafter referred to as "Philippine side") available financing and/or support through dispatch of technical experts and consultants within its comparative advantage to undertake the conduct of Feasibility Studies for Major Projects in support for the priority projects of the Government of the Republic of the Philippines as mutually agreed by both sides.
Article 2
Both sides agree on the following procedures for the provision of the financing and/or support under this MOU:
Article 3
Both sides agree that the provision and conduct of the Feasibility Study does not necessarily bind or obligate the Government of the People's Republic of China to finance the project resulting from the Feasibility Study nor the Government of the Republic of the Philippines to seek or accept financing from Government of the People's Republic of China.
This MOU does not likewise preclude the Government of the Republic of the Philippines from entering into other agreements with other parties for the development of a similar undertaking or to finance the individual project based on the Feasibility Study prepared and supported under this MOU.
Article 4
All applications for support under this MOU shall be submitted within the validity period of this MOU. No applications after the expiry date shall be accepted by the Chinese side unless such validity is extended by agreement in writing between both sides hereto in advance.
Article 5
Both sides may supplement and modify this MOU at any time, if deemed necessary. Any modification must be done by mutual written consent of both sides which shall represent an integral part of this MOU.
Article 6
The validity period of this MOU is three (3) years, and shall become effective upon signing by the authorized signatory of both sides. Both sides may make amendments or modifications to this MOU, which must be in writing and be duly signed by both sides, and will form the integral parts of this MOU.
The termination of this MOU shall not affect the completion of projects or agreements already underway but not yet completed during the effectivity of this MOU. Said projects or agreements will continue to be carried out until its full completion or termination, in accordance with the terms established in the concluded agreements.
Done in duplicate in Beijing, on this 20th day of October, 2016 in the Chinese and English languages, each side keeping one original, the two texts being equally authentic.
The Ministry of Commerce of the People's Republic of China (hereinafter referred to as “Chinese side") hereby agrees to make, available to the Department of Finance of the Republic of the Philippines (hereinafter referred to as "Philippine side") available financing and/or support through dispatch of technical experts and consultants within its comparative advantage to undertake the conduct of Feasibility Studies for Major Projects in support for the priority projects of the Government of the Republic of the Philippines as mutually agreed by both sides.
Both sides agree on the following procedures for the provision of the financing and/or support under this MOU:
Both sides may further discuss on detailed procedures and arrangements to implement the supportfor conduct of Feasibility Study such as on information exchange, use of data, requirement for capacity building/technology transfer, and other areas.
- The Philippine side shall submit to the Chinese side, through diplomatic channels the request for conduct of Feasibility Study;
- Upon receiving the request from the Philippine side, the Chinese side shall evaluate, and then issue its decision, through diplomatic channels, on the request of the Philippine side;
- The Chinese side shall dispatch its technical experts and/or consultants to undertake the preparation and conduct of the Feasibility Study. The conduct of the Feasibility Study shall be undertaken in close coordination and under the guidance of the Government of the Republic of the Philippines through its competent agency/ies.
Both sides agree that the provision and conduct of the Feasibility Study does not necessarily bind or obligate the Government of the People's Republic of China to finance the project resulting from the Feasibility Study nor the Government of the Republic of the Philippines to seek or accept financing from Government of the People's Republic of China.
This MOU does not likewise preclude the Government of the Republic of the Philippines from entering into other agreements with other parties for the development of a similar undertaking or to finance the individual project based on the Feasibility Study prepared and supported under this MOU.
All applications for support under this MOU shall be submitted within the validity period of this MOU. No applications after the expiry date shall be accepted by the Chinese side unless such validity is extended by agreement in writing between both sides hereto in advance.
Both sides may supplement and modify this MOU at any time, if deemed necessary. Any modification must be done by mutual written consent of both sides which shall represent an integral part of this MOU.
The validity period of this MOU is three (3) years, and shall become effective upon signing by the authorized signatory of both sides. Both sides may make amendments or modifications to this MOU, which must be in writing and be duly signed by both sides, and will form the integral parts of this MOU.
The termination of this MOU shall not affect the completion of projects or agreements already underway but not yet completed during the effectivity of this MOU. Said projects or agreements will continue to be carried out until its full completion or termination, in accordance with the terms established in the concluded agreements.
Done in duplicate in Beijing, on this 20th day of October, 2016 in the Chinese and English languages, each side keeping one original, the two texts being equally authentic.
Entry into Force: October 20, 2016