A draft Russian-Belarusian intergovernmental agreement on mutual recognition of bank guarantees in public procurement has been prepared
The Government of the Russian Federation has approved a draft agreement with the Government of the Republic of Belarus on mutual recognition of bank guarantees in the implementation of state (municipal) procurement.
It is planned that the relevant agreement will apply to bank (independent) guarantees issued by guarantors registered in the territory of the relevant State of the principal for the purposes of procurement carried out by the customer located in the territory of another state. At the same time, guarantees issued in the Russian Federation and bank guarantees issued in the Republic of Belarus are recognized as equivalent for public procurement purposes.
The agreement will not apply to purchases:
- information about which is a state secret (state secrets);
- carried out by national (central) banks of the states of the contracting parties.
The guarantor bank must meet the following requirements:
- the absence of measures applied to him to prevent bankruptcy and financial recovery during the last 6 months;
- availability of a credit rating, the requirement of which is provided for by the legislation of the relevant state in the field of public procurement.
The guarantor must be included in the list of guarantors of the customer's state.
The Ministry of Finance of Russia has been instructed to conduct negotiations and, upon reaching an agreement, sign an appropriate agreement.
Document: Decree of the Government of the Russian Federation No. 992-r of April 20, 2023