OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA
3. Year No. 46 ADDIS ABABA - 1 July , 1997
CONTENTS
Council of Ministers Regulations No. 17/1997
Council of Ministers Financial Regulations
Page 544
COUNCIL OF MINISTERS REGULATIONS No.17 / 1997 COUNCIL OF MINISTERS REGULATIONS
ON THE FINANCIAL ADMINISTRATION OF THE FEDERAL GOVERNMENT These Regulations are issued by the Council of Ministers pursuant to Article 5 of the Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 4/1995 , and Article 68 of the Federal Government of Ethiopia Financial Administration Proclamation No. 57/1997 .
PART ONE
General
1. Short title
These Regulations may be cited as the “ Council of
Ministers Financial Regulations No.17 / 1997 . ” 2. Definitions
In these Regulations : 1 ) " Advance " means a payment for which there is no
exchange of value and that is to be accounted for by the recipient at some later date and does not include a progress payment made on account
of , but before the completion of a contract . 2 ) “ Bid security ” means a bid bond or security
deposit given by a contractor to the Federal Government of Ethiopia to guarantee entry into a contract if the contract is awarded to that contract
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