Bank guarantee registry: what is it and where to look

The register of bank guarantees is a certain resource that has absorbed all the necessary and permissible information about existing financial provisions. In turn, the data referred to in a single register are reliable confirmation of the fulfillment of obligations by certain authorized persons of municipal and state agreements.

When and by whom was the register of bank guarantees invented?

The resource itself, where the register of banks issuing bank guarantees is located, was organized and launched by representatives of the Russian government on the platform of the Unified Electronic Trading Platform. The creation of the web resource dates back to June 2013. And one of the first organizations to receive guarantor status was Bank of Moscow.

What are bank guarantees?

Sureties entered in the register bank guarantees are a legal way to confirm the enforcement of obligations of legal entities participating in the process of state and other types of procurement. These guarantee options are usually provided for by the Civil Code of the Russian Federation. You can read more about them in article 368 of the Civil Code of the Russian Federation, on the basis of which any credit institution, bank, insurance and other companies serve as a guarantee in the implementation of the transaction.

Moreover, the above operation is carried out at the request of the principal (person interested in the transaction) and is carried out in writing. Most often, customers who have entered into contracts for the supply of any goods, equipment, or services prefer to look into the register of bank guarantees. Accordingly, in order to avoid unpleasant moments in the contract, they are in a hurry to back up their deal with a guarantee of authorized persons.

What should a bank guarantee contain?

Bank guarantee - a register of banks, according to the Tax Code of the Russian Federation, should include the following points:

• the amount of compensation (guarantee) that the bank is obligated to reimburse to the customer in case of failure by the supplier (principal) to fulfill its obligations under the contract (this action is provided for by the Federal Law, part 13, article 44);
• obligations of the supplier (principal), which are subject to bank guarantees;
• the amount or percentage of the penalty in case of delay of the goods or services by the principal (the penalty is paid by the guarantor in the amount of 0.1% of the total order, taking into account each day of the delay);
• terms of the contract, providing for the principal to fulfill specific obligations, after which the customer is obligated to transfer the previously agreed amount to his account;
• the period during which the bank guarantee will be valid (these time frames are described in Articles 96 and 44 of the current Federal Law);
• conditions providing for bank guarantees for the customer (conclusion of a contract, description of the conditions that arise in case of non-fulfillment, rights and obligations of the parties, etc.);
• a list of necessary documentation that must be provided by the customer to the guarantor for the purpose of their further requirement to provide them with bank guarantees.

What types of bank guarantees exist?

The assurances included in the register of bank guarantees and provided by the bank or other trustworthy guarantor serve as a kind of insurance. It is it that allows the customer, for example, to compensate for equipment downtime if the supplier does not fulfill the delivery of industrial raw materials.Depending on the entities involved in the procurement, on the scope of their activities and other factors, the following types of bank guarantees are distinguished:

1. Warranties used by entities for their participation in auctions, tenders, tenders (described in documents provided by business entities before the start of tendering).
2. Assurances to ensure compliance with the terms of the contract (these documents are submitted after the end of the bidding by the winner and before signing the main contract).
3. Evidence used by entities as a guaranteed return on advance payment of goods and services (allows the supplier to receive an advance from the customer in an amount not exceeding 30% of the total contract value).

What organizations can act as guarantors?

Only organizations that are included in the unified register of bank guarantees and comply with the requirements of the Tax Code, as well as those described in Art. 44 and paragraph 1 of article 45 Federal Law "On the contract system in the field of procurement of goods, works, services to ensure municipal and state needs." In this case, credit or insurance institutions with the right to provide bank guarantees are controlled by the Ministry of Finance of the Russian Federation and the Central Bank of Russia. A list of such organizations can be found on the official website of the Ministry of Finance.

In addition, for example, banks acting as guarantors should:

• carry out its activities on the basis of a license issued by the Central Bank for five or more years;
• have equity in the amount of from 1,000,000,000 rubles;
• not violate the law and rules of implementation banking activities within six months.

All organizations entitled to provide assurances are entered into the register of issued bank guarantees. In addition, each guarantor can enter information about his organization independently. Entering and viewing information in the register is carried out for all participants in the transaction absolutely free.

What needs to be done before starting work in the warranty registry?

Before you start working in the unified state register of bank guarantees, you must perform the following steps:

• conclude an agreement on competition policy with a representative office of the Department of Moscow;
• contact the center of JSC "EETP" and get a valid electronic signature there;
• to agree with the regulation, which refers to the current interactions of banks and other guarantors with JSC "EETP" used in the process of creating a register of bank guarantees;
• go through a simple registration procedure in a single register of bank guarantees with obtaining further guarantor status (in accordance with the guidelines for new users).

Where can I see information about registered guarantors?

The register of bank guarantees, where you can see data on organizations entitled to act as authorized persons, is on the official page of the government procurement portal of the Russian Federation. Currently, this resource includes more than 100,000 records that mention the types of collateral issued. In the near future, the number of notes, according to experts, may exceed 300 guarantee organizations.

What was the purpose of creating a register of bank guarantees?

The official resource was created in order to provide timely information on the contractual system of interaction in the field of procurement of works, goods and services for individual legal entities. On this resource, all the necessary information is generated, processed and stored for a long time.

The conditions for the generation and posting of data on the site are regulated by Federal Law No. 44 of 04/05/2013, as well as by Law No. 223 “On Procurement of Goods, Work, Services by Certain Types of Legal Entities” of July 18, 2011.

Summary

A register of bank guarantees is a useful tool that allows large trading or industrial companies and other organizations to solve the problems of commercial transaction insurance. In order to determine whether it is worth contacting a particular company, just look into a single source of information and see the rating of its reliability!