Government Procurement Law
Section 34. Small Value Procurement. - A mode of procurement whereby the Procuring Entity requests for the submission of at least three (3) price quotations for goods not available in the PS-DBM, Infrastructure Projects, and Consulting Services. The receipt of one (1) quotation is sufficient to proceed with the evaluation of bidders: Provided, That the amount involved does not exceed Two million pesos (P2,000,000.00) subject to the periodic review of the threshold amount and adjustments as may be deemed appropriate by the GPPB.
In the case of LGUs, the GPPB is authorized to adjust the threshold amount based on the LGU income classification.