1. The Local Government Unit of Tuao, Cagayan through LDRRM FUND intends to  apply the sum of  Php 7,500,000.00   being the Approved Budget for the Contract (ABC) to payments under  the contract for PROCUREMENT OF 1 UNIT MANLIFT AND 1 UNIT BRAND NEW BACKHOE LOADER. Bids received in excess of the ABC shall be automatically rejected at bid opening.