Improvement of legislation about bank guarantees to secure the performance of government contracts

March 5 meeting of the Committee held "Business Russia" on financial and credit security business.
The event was attended by the co-chairman of the Committee Vladimir Hamza, Vice-President of "Business Russia" Nikolay Ostarkov, vice-president of the Association of Regional Banks Oleg Ivanov, Deputy Chairman of the Agency loan guarantees Irina Loskutova, executive director of the Association of Electronic Trading Platforms (AETP) Elijah Dimitrov, representatives Committee business and expert community bank executives.
During the meeting, the experts considered the issues of improving the legislation on bank guarantees to secure the performance of government contracts.
A report on "Financial Instruments performers government contracts", the Deputy Committee, managing partner of investment-consulting group «FIRST» Alex Poroshin. According to him, the "impossible" for bank guarantees is greatly exaggerated.
Vice-President of "Business Russia" Nikolay Ostarkov, in turn, stressed the need for a substantial expansion of the scope of financial security and guarantee the implementation of state contracts measures. "We need to find a special, non-burdensome option guarantee for small business and to formulate a clear and reasoned position of Business Russia against the abolition of the guarantee mechanism for enforcement of state contracts" - summed up the expert.
Following the event, members of the Committee "Business Russia" on financial and credit security business decisions were made to bring the position of the participants for consideration during the issues to the attention of federal legislative and executive power.