Law Summary
Authorization and Conditions for Waiver of Sovereign Immunity
- Permits the Republic of the Philippines, when expressly authorized by law to incur foreign obligations, to consent to being sued regarding these obligations.
- The President of the Philippines or a designated representative may contractually waive sovereign immunity from suit or legal proceedings.
- Waiver includes immunity from set-off, attachment, or execution against government property related to the foreign obligation.
- The waiver must be made contractually and applies specifically to foreign obligations.
Definition of Foreign Obligation
- Defined as any direct, indirect, or contingent obligation or liability.
- Must be capable of pecuniary estimation, indicating quantifiable monetary value.
- Payable in a currency other than the Philippine peso, thus covering obligations in foreign currency.
Preservation of Existing Waivers
- The decree explicitly states that it does not revoke or repeal any previously granted waivers of sovereign immunity.
- Waivers granted under other laws remain valid and effective.
Effectivity
- The decree took effect immediately upon its issuance.
- Declares the legal authority and date of promulgation, reinforcing its immediate enforceability.