The Ministry of Finance proposed to establish in 223-FZ requirements for bank guarantees for purchases from SSM
The requirements that the Ministry of Finance proposes to consolidate in Law No. 223-FZ refer to bank guarantees used for competitive purchases among small and medium-sized businesses. These requirements apply to guarantees provided as security for an application or performance of a contract.
The customer, when carrying out these purchases, will only have to accept guarantees issued by banks from the list provided for by Law No. 44-FZ.
Among the requirements mentioned in the draft it is important to distinguish the following:
the guarantee must be irrevocable;
the period of validity of the guarantee provided to secure the application must be not less than two months from the deadline for the submission of applications;
the period of validity of the guarantee provided for the security of the contract must exceed the term of fulfillment of the obligations it provides for not less than one month.
If the amendments are adopted, they will enter into force on July 1, 2018.
Document:
Draft federal law (public discussion ends on May 4, 2018)