The conditions of mutual recognition of bank guarantees by the member states of the Eurasian Economic Union in the implementation of public procurement are defined
The Council of the Eurasian Economic Commission approved a list of criteria to be met by the guarantors of the member States of the Eurasian Economic Union who issue bank guarantees for the purposes of participating in state (municipal) procurement in other member states, as well as the Procedure for exchanging information for mutual recognition of bank guarantees in the implementation of state (municipal) procurement in the member States Of the Eurasian Economic Union.
In particular, in order to ensure obligations in the implementation of public procurement, the following requirements are imposed on guarantor banks:
- the absence of the guarantor of the member state of the principal within the last 12 months, confirmed in court in accordance with the legislation of the beneficiary's member state, unreasonably unfulfilled or not fully fulfilled obligations to the beneficiary under the bank guarantee issued under the Agreement on Mutual Recognition of Bank Guarantees in the Implementation of state (Municipal) procurement;
- the amount of the guarantor's own funds is the equivalent of at least 60 million United States dollars (until January 1, 2030, for banks registered in the Kyrgyz Republic, the availability of the amount of own funds is the equivalent of at least 50 million United States dollars);
- the minimum value of the guarantor's capital adequacy ratio is 12.5%.
In addition, the rules of interaction of the relevant authorized bodies when including guarantors in the list of guarantors and exclusion from it are established.
The decision of the Council of the Eurasian Economic Commission of 29.08.2023 N 87 comes into force on September 30, 2023, but not earlier than the date of entry into force of the Agreement on Mutual Recognition of Bank Guarantees in the implementation of state (municipal) procurement.
Document: Decision of the Council of the Eurasian Economic Commission of August 29, 2023 N 87