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Unification of tender guarantees to reduce the number of controversial situations during public procurement organizing

02/ 04/ 2021
  The use of a unified form of tender guarantees, launched by the order On approval of the form and requirements for securing tender offers/suggestions by Ministry of Economic Development, Trade and Agriculture of Ukraine, should reduce the number of controversial situations during public tenders, Yuriy Morozov, head of the documentary operations department of OTP Bank, commented. According to the order, Ukrainian banks are obliged to unify the texts of tender guarantees in complying with the standard requirements. Their use will help to simplify the interaction of banks, their clients and organizers of public auctions, as well as reduce the number of controversial situations, Morozov said. According to Yuri Morozov, banks have been promoting the idea of ​​bringing the tender guarantee to a standard, uniform form for all the market players for a long. The discrepancy in the tender guarantees texts could lead to disputable situations, even including the disqualification of the bidder. That, accordingly, created serious inconveniences and led to the dissatisfaction of bank customers, the expert added. More information about the guarantees by OTP Bank can be found following the link https://en.otpbank.com.ua/big-corporate/products-financing/main-structured/documentary-instruments/ Joint Stock Company OTP BANK is one of the biggest Ukrainian banks with foreign capital, which is a recognized leader in the countrys financial sector. The bank provides a full range of financial services for corporate and private clients, as well as small and medium-sized businesses. It has been represented on the Ukrainian market since 1998, has a strong reputation as a socially responsible, reliable and stable structure offering consumers services of European quality. Its 100% owner is the largest Hungarian bank OTP Bank Plc. Since 2019, according to the decision of the NBU, OTP Bank has been included in the list of systemically important banks in Ukraine that have a significant impact on the development of the countrys financial system. In Ukraine, OTP BANK JSC acts as the flagship of the OTP banking group, registered by the National Bank of Ukraine, which also includes AMC OTP Capital LLC and OTP Leasing LLC. Follow OTP Bank news on social networks Facebook, Twitter, Youtube, Instagram, Telegram and Viber.

“The use of a unified form of tender guarantees, launched by the order “On approval of the form and requirements for securing tender offers/suggestions” by Ministry of Economic Development, Trade and Agriculture of Ukraine, should reduce the number of controversial situations during public tenders,” Yuriy Morozov, head of the documentary operations department of OTP Bank, commented.

According to the order, Ukrainian banks are obliged to unify the texts of tender guarantees in complying with the standard requirements. “Their use will help to simplify the interaction of banks, their clients and organizers of public auctions, as well as reduce the number of controversial situations”, Morozov said.

According to Yuri Morozov, banks have been promoting the idea of ​​bringing the tender guarantee to a standard, uniform form for all the market players for a long. “The discrepancy in the tender guarantees’ texts could lead to disputable situations, even including the disqualification of the bidder. That, accordingly, created serious inconveniences and led to the dissatisfaction of bank customers,” the expert added.

More information about the guarantees by OTP Bank can be found following the link https://en.otpbank.com.ua/big-corporate/products-financing/main-structured/documentary-instruments/

Joint Stock Company “OTP BANK” is one of the biggest Ukrainian banks with foreign capital, which is a recognized leader in the country’s financial sector. The bank provides a full range of financial services for corporate and private clients, as well as small and medium-sized businesses. It has been represented on the Ukrainian market since 1998, has a strong reputation as a socially responsible, reliable and stable structure offering consumers services of European quality. Its 100% owner is the largest Hungarian bank OTP Bank Plc.

Since 2019, according to the decision of the NBU, OTP Bank has been included in the list of systemically important banks in Ukraine that have a significant impact on the development of the country’s financial system.

In Ukraine, OTP BANK JSC acts as the flagship of the OTP banking group, registered by the National Bank of Ukraine, which also includes AMC OTP Capital LLC and OTP Leasing LLC. Follow OTP Bank news on social networks Facebook, Twitter, Youtube, Instagram, Telegram and Viber.

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