Conditions for Lease-Purchase Agreement.
Section 33
SEC. 33. Conditions for Lease-Purchase Agreement.— Ministries, bureaus, offices or agencies may enter into agreements or contracts for lease-purchase of equipment in accordance with the approved equipment program of the agency, subject to the pertinent accounting and auditing regulations and to the condition that such contracts or agreements will be more advantageous to the government than contracts of outright purchase. The details of payment shall be indicated in the lease-purchase agreement and accompanied with certification of availability of funds to cover the full contract cost: Provided, That all lease-purchase agreements of equipment in excess of P100,000 shall be subject to the approval of the President (Prime Minister) upon recommendation of the Minister of the Budget. Personal Services and Benefits