The Ministry of Finance made new explanations about period of validity of bank guarantee for purchases

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Department reminded of requirements to period of validity of bank guarantee which provides performance of obligations from the state contract. The Ministry of Finance made explanations about period of validity of bank guarantee, necessary for performance of the state contract. They are in the letter of 27.09.2019 No. 24-03-07/74362. In particular, experts noted that period of validity of a guarantee has to exceed the provided contract a date of performance of obligations. They have to be provided with a guarantee not less than for one month including in case it changes according to article 95 Law "About Contract System in the Sphere of Purchases of Goods, Works, Services for Ensuring the State and Municipal Needs". Thus other requirements...

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