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26 06 / 17

Bank guarantee for participation in public procurement. What is the risk for the customer and the supplier?

The Law on the contract system establishes the requirement for public procurement participants to provide security for contract in order to protect procurement from dishonest suppliers. Bank guarantee is one of the types of such security. In practice there are lot of issues arising both for the participants and for customers in relation to the granting of a bank guarantee.

Analysis of the most critical problems as well as recommendations for avoidance of negative consequences are presented in the following article.

You can find the article in PDF format here.