Agreement on mutual recognition of bank guarantees in state procurement among EAEU member states ratified

The Agreement, signed in Moscow on August 29, 2023, aims to facilitate mutual recognition of bank guarantees issued by guarantors registered in the member state of the principal for use in state (municipal) procurement conducted by the beneficiary in another member state.

Bank guarantees issued with due regard to the provisions of the Agreement are recognised by member states in making state (municipal) procurement.