State contracts are signed on the basis of Federal Law No. 44. To fulfill this contract, special tenders are held in which the company that offers the goods or services at the lowest prices wins. But there is always the possibility that the winner for various reasons will not be able to fulfill the requirements of the customer. Under such conditions, the customer will lose a lot of time and money, so he needs a guarantee, for which process participants usually turn to a reliable and trusted bank. They must understand how to obtain a bank guarantee to secure a contract, how its value is determined, and also for how long it is provided. Use of this warranty is mandatory for participants.
The purpose of obtaining
Initially, the customer and the contractor must understand what a bank guarantee is, and also what is the purpose of its execution. It is provided upon conclusion of an agreement between the supplier, the client of the bank, and the beneficiary, represented by the customer. Typically, the customer is state or municipal enterprises.
The guarantee is a special document issued by the bank and represented by the obligation to pay the amount of funds that ensures the implementation of the contract. A guarantee is issued to ensure the following agreements:
- contract for the execution of a state order;
- an agreement concluded between commercial enterprises, but with the participation of the state;
- commercial agreements signed between private entrepreneurs and company owners.
In each option, different requirements are presented to customers, and the price of such a banking service depends on the amount of the contract and other parameters. Therefore, all parties to the agreement must understand what a bank guarantee is that ensures compliance with the terms of the agreement.
Legislative regulation
The procedure for issuing a bank guarantee to secure a contract is governed by various regulations, but the most important information is contained in Federal Law No. 44. Here are the rules for analyzing a transaction between government companies or commercial firms.
The provisions of this legislative act should be radiated not only by contractors and suppliers, but also by direct customers who expect that their contractual requirements will be fulfilled in a timely manner and in full.
Types of Warranties
Before you get a bank guarantee to secure a contract, it is important to understand its main varieties. Such a proposal of banking institutions is considered popular among numerous organizations, as a result of which banks began to qualify guarantees for the sphere of use. The main varieties include:
- Guarantee of securing the application for participation in the auction or bidding. Using such a banking product, it is guaranteed that the winner of the tender will fully fulfill his obligations that appear after signing an agreement with the customer. The amount of security for the execution of the contract, according to Federal Law No. 44, is usually 5% of the contract price. The validity of such a guarantee depends on the period for which the contract is signed.
- Guarantee of enforcement of the contract. This option is considered the most popular and often ordered. The company that won the tender needs this provision. In order for the customer to conclude an agreement with such an organization, it must transfer a guarantee that it will fulfill its obligations. If the result of the work is of poor quality, then it is the banking institution that is obligated to pay the customer various fines and penalties. Due to the increased risk of the bank, the cost of such a guarantee increases, therefore it reaches 10% of the agreement price.
- Advance return guarantee. When concluding a contract, information is often entered into its text on making an advance payment by the customer. Its size can reach even 30% of the contract price. The customer, before transferring this amount, requires the contractor to provide the state contract with a bank guarantee. In this case, it is guaranteed that the funds received by the contractor will not be used up for unnecessary purposes. If it is established that the money was directed to other purposes that were not agreed in advance, the bank shall cover the losses of the customer.
Therefore, you should initially decide on what type of guarantee is required by the contractor.
Terms of registration
Each bank offers its own conditions when issuing a bank guarantee to secure a contract. The requirements may vary slightly, but by default they are as follows:
- if the contractor for various reasons violates the terms of the contract, the beneficiary may apply to the bank for material compensation;
- it is the bank that pays the reimbursement, after which it turns to the contractor to recover the lost amount;
- to provide a guarantee, a banking institution must be confident in the executor, therefore, it first conducts a thorough check;
- there are different requirements for the size of the company, its authorized capital, duration of work and the presence of various tangible assets.
The cost of the guarantee may vary significantly from bank to bank. In large institutions, checking clients takes a lot of time, and the performers have to spend quite a lot of money to pay for this unusual banking service.
Cost
The amount of security for the execution of the contract, according to the Federal Law No. 44, may be different, since each organization uses its own unique tariffs. The amount of remuneration is influenced by various factors, which include:
- The amount specified in the agreement;
- the financial position of the principal represented by the contractor, therefore, bank employees must carefully check their client before providing a guarantee;
- period for which the warranty is provided.
According to Federal Law No. 44, the size of the commission is set in the form of interest, but there are limits, therefore, the cost of banking services varies from 0.5 to 30% of the size of the contract. By default, banks charge a fee equal to about 3% of the contract price.
What information is contained in the document?
The provision of a bank guarantee for the enforcement of the contract consists in the transfer of certain documentation to the customer. The following information is included in this document:
- the main purpose of the contract;
- information on participants in the transaction, presented by the name of the organization, their details and legal addresses;
- contract amount;
- the period during which the contract is valid;
- obligations arising from each participant after signing the agreement;
- date of issue of the guarantee;
- information about document registration.
Each such document is registered in a special register of banks. The procedure is performed within two days after the issuance of the guarantee. It is allowed to make any changes to this documentation if necessary, but they must be registered.
The procedure for obtaining banking services
Any company participating in various government tenders or auctions must be familiar with how to obtain a bank guarantee to secure a contract. In any case, the customer will need it. The procedure for registration of this bank service is divided into the following stages:
- initially there is a need to issue a guarantee, and usually this is due to the fact that a certain executing company wins the tender, therefore, when making contact with the customer, a guarantee is required;
- the customer sends the winner a special written request stating the request to issue a guarantee, additionally listing its conditions, amount of remuneration and other requirements;
- a banking institution offering the appropriate service is selected;
- documents related to the contract and the work of the executing company are transferred to the bank;
- specialists of the institution conduct a check of a potential client to determine the size of their remuneration and other conditions of cooperation;
- an official contract is prepared and signed, and it is desirable that the executing company take the help of a lawyer to assess the legal purity and effectiveness of the transaction;
- the agreement prescribes the amount of remuneration, the duration of the guarantee, as well as the rights and obligations arising from each participant in the process;
- the guarantor draws up a written obligation stating that he will transfer the funds to the beneficiary if the principal fails to fulfill his obligations under the contract.
The procedure for issuing a bank guarantee to secure a contract is the same in many banks offering this service. The differences are only in the content of the direct document.
How are payments made?
If in the course of the transaction the principal really cannot fulfill the requirements of the agreement or even becomes the debtor, then it is the bank that will have to pay the beneficiary monetary compensation.
For this, the customer draws up a written appeal to the guarantor, in which he demands to fulfill the obligations of the previously issued bank guarantee. The Bank checks the accuracy and relevance of these requirements, and then transfers to the customer the required amount of funds. It is at this moment that the warranty is deemed to have expired. But at the same time, the bank has the right to contact the client for the return of the lost amount.
How to get a bank guarantee to secure a contract?
If a company wins a tender or tender, then it becomes necessary to issue this guarantee. To do this, it is important to initially decide on a banking institution. These services are offered by different banks that charge various amounts of funds from their customers.
As soon as a bank is selected, the following actions are performed:
- an application is filled out, and the process can be carried out not only when visiting a bank branch, but also on its official website;
- Next, you need to wait for the call of the employee of the banking institution, which will clarify the details of the guarantee;
- a package of documents is prepared that is necessary for the inspection by bank employees, and you can send them by mail or through electronic communication channels;
- An agreement drawn up by bank lawyers is being studied, and it is advisable to entrust its verification to a professional;
- if there are no problems, the contract is signed by both parties;
- a commission is paid for the services of the bank.
After performing all the above actions, the bank prepares a guarantee in the form of a written document. It is transferred to the client personally in the hands of the department of the institution or sent by mail. Some banks even provide an electronic version of this document.
If the representative of the executing company understands how to get a bank guarantee to secure the contract, then he will not encounter any difficulties. You can apply for this service in different institutions, but most often enterprises prefer to cooperate with Sberbank.
Design options
At Sberbank, a bank guarantee for enforcing a contract can be issued in different ways, and the same methods can be applied by other banks. Conventionally, there are three design options:
- The classic version. It is used if you need to issue a guarantee for a fairly large amount. This method is usually chosen if the contractor receives more than 20 million rubles for his work. Banks spend quite a lot of time evaluating the financial condition of an enterprise. In addition, this method is used by banking institutions that do not offer too many programs as their client, and also do not have the ability to quickly consider customer applications.
- Expedited review. This option is not offered when issuing a bank guarantee for the enforcement of commercial contracts. It is used only for enterprises that are winners in government bidding. For them, special programs for the accelerated consideration of applications are created. As a result, the guarantee is issued literally 5 days after the filing of the application. But the amount under the contract should not exceed 10 million rubles, and the bank also charges a significant commission for such conditions.
- Electronic Warranty. Documents under such conditions are provided in electronic form. They are certified by digital signature, and this design method allows you to save a significant amount of time. A bank client does not have to collect too many documents, and a guarantee is issued literally within 4 days. The disadvantages of this design include a high commission, and the amount under the contract should not exceed 5 million rubles.
The choice of a specific design option depends on the amount of the contract and other conditions.
Bank Specific Requirements
An irrevocable bank guarantee of contracts may be provided on certain specific conditions imposed by banking institutions. Customers are warned about these conditions in advance. These usually include:
- Granting a deposit or opening a deposit. Such a requirement is quite rare, but sometimes, when the state of the client company is considered not too satisfactory, banks resort to this method of reducing their own risks.
- Opening a current account in a guarantee bank. This requirement is mandatory for many banking institutions. Banks really insist that customers who are executing contracts open an account with the organization before receiving a guarantee. Typically, such a requirement is mandatory if the amount of the contract exceeds 10 million rubles.
- Surety of other businessmen. To reduce risks, banks require customers to attract guarantors. They should be the owners of their own business, and the company should work more than a year and make good profits.
If the client does not meet the requirements of the bank under different conditions, then the institution may refuse to issue a guarantee.
What documents are needed?
To issue a bank guarantee, the executing company prepares the following documentation:
- application in the form of the selected banking institution;
- statutory documents;
- an order to appoint a director to his post;
- powers of attorney of persons who represent the interests of the enterprise;
- financial statements for the year of work;
- contract for which collateral is required;
- if the company operates in a specific area of activity, then an additional license is required.
All these documents are carefully checked, so if any violations or problems are found, the bank refuses to issue a guarantee. For example, in Sberbank, a bank guarantee for enforcing a contract is issued only to companies that can prove their solvency and stability. The security service carries out a thorough check, so really all the problems that the company has are identified.
Design Benefits
Using a bank guarantee has many advantages for any company. These include:
- it is possible to conclude really large contracts;
- it is not necessary to withdraw from circulation a large amount of funds that can act as collateral;
- at the request of banks usually make a decision fairly quickly;
- It is not required to prepare too much documentation;
- commissions are considered affordable by many companies.
The registration procedure has many similarities with the process of obtaining a regular loan.
Duration of bank guarantee of contracts
This period exceeds the term of the contract by at least one month. This condition is spelled out in Federal Law No. 44. The customer may require an increase in this period, but it cannot be reduced.
Sometimes this period does not end after the completion of the work carried out by the contractor, but after the payment of these works. Moreover, information about the guarantee must be included in a special register of banks. .
Conclusion
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