MINSK , January 6President of Belarus Alexander Lukashenko signed a law on the ratification of an intergovernmental agreement with Russia on the mutual recognition of bank guarantees for state (municipal) procurement.
The document, which was adopted by parliament in December, was published on the country’s national legal Internet portal.
“Ratify the agreement between the government of the Republic of Belarus and the government of the Russian Federation on the mutual recognition of bank guarantees for state (municipal) procurement, signed in Moscow on September 28, 2023,” the law says. It defines the National Bank of the country as the authorized body of Belarus, which is entrusted with the implementation of the agreement.
An agreement between the governments of Belarus and Russia on the mutual recognition of bank guarantees for state (municipal) procurement was signed in Moscow on September 28, 2023. It establishes a mechanism for the participation of Belarusian banks in government procurement in Russia on an ongoing basis. As noted in the Parliament of Belarus, the main goal of the agreement is unhindered access to participation in state and municipal procurement in both Russia and Belarus.
Meanwhile, the agreement will not apply to purchases, information about which is a state secret, and to purchases carried out by the central banks of the parties.
It is assumed that the guarantor bank must meet a number of requirements, including that measures to prevent bankruptcy and financial recovery must not have been applied to it during the last six months. At the same time, he must have a credit rating, the level of which is required by the legislation of the relevant state in the field of public procurement. The guarantor bank must be included in the list of organizations entitled to provide bank guarantees within the framework of government procurement.