The application of bank guarantee as tool for participation in public procurement procedures
The application of bank guarantee as tool for participation in public procurement procedures
Melnikov Vladimir, V.
Candidate of Economic Sciences (PhD), Associate Professor of the Department «Economic Theory», Novosibirsk State Technical University, Novosibirsk
Candidate of Economic Sciences (PhD), Associate Professor of the Department «Economic Theory», Novosibirsk State Technical University, Novosibirsk
Tyurina Veronica, A.
Master of Economics, Novosibirsk State Technical University, Novosibirsk
Master of Economics, Novosibirsk State Technical University, Novosibirsk
Journal of Economic Regulation,
2014, Vol.
5
(no. 3),
p. 116-123
The economic and legal characteristic of provision connecting with using bank guarantees by public and municipal procurement is represented in the paper. The paper contains a list of regulatory acts governing the institution of Bank guarantees in the framework of contract system. The technology of pledging guarantees, basics of interaction of bank and supplier, the example of the interaction scheme of the bank departments are shown. The paper contains the list of documents necessary for the vendor to obtain guarantee. The authors have made the conclusion about the future prospects using this method of security for suppliers’ obligations.
Keywords:
procurement; financing; bank guarantee; tender security; security for the performance of the contract
References:
- Вапк Guarantee for 44-FZ. (http://nfpk.rf/bankovskaya-garantiya-po-44-fz.html - Access Date: 07.06.2014). (In Russian).
- Braginsky M. I. and Vitryansky V. V. (2011). Contract Law. Moscow, Statute Publ., 847 p. (In Russian).
- Volchik V. V. (2007). Improving Enforcement in the Field of Public Procurement as a Factor in the Development of Entrepreneurship. Terra Economicus, vol. 5, no. 1-2, pp. 60-61. (In Russian).
- Civil Code (Part I) of 30.11.1994 № 51-FZ, as Amended № 129-FZ of 05.05.2014. (http://www.consultant.ru/document/cons_doc_LAW_156036 - Access Date: 07.06.2014). (In Russian).
- Gutselyuk E. F. (2010). Stimulation the Aggregate Demand for the Small Business Products as a Form of their Support in a Crisis Conditions. Journal of Economic Regulation, vol. 1, no. 1, pp. 33-38. (In Russian).
- Commentary to the Civil Code of the Russian Federation, of the Second Part (2008) / Ed. by prof. T. E. Abova and A. Yu. Kabalkin. Moscow, «Pravo I Zakon» Publ., 976 p. (In Russian).
- On Banks and Banking Activity: Federal Law of the Russian Federation of 02.12.1990 № 395-1. (http://www.consultant.ru/popular/bank - Access Date: 10.06.2014). (In Russian).
- On the Contract System in the Procurement of Goods, Works and Services for State and Municipal Needs: Federal Law of the Russian Federation № 44-FZ of 05.04.2013. (http://www.consultant.ru/document/cons_doc_LAW_163968 - Access Date: 10.06.2014). (In Russian).
- Shmakov A. (2005). Economic Analysis of Law: a Tutorial. Part 1. Novosibirsk, Publ. House of the NSTU. (In Russian).
Publisher:
Ltd. "Humanitarian perspectives"
Founder: Southern Federal University
ISSN: 2078-5429
Founder: Southern Federal University
ISSN: 2078-5429