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AGREEMENT OF STATE MEMBERS OF COMMONWEALTH OF INDEPENDENT STATES

of August 29, 2023

About mutual recognition of bank guarantees when implementing the public (municipal) procurements

The state members of the Eurasian Economic Union which further are referred to as with state members

based on provisions of the Agreement on the Eurasian Economic Union of May 29, 2014 (further - the Agreement),

expressing interest in strengthening of cooperation in the field of the public (municipal) procurements on long-term and stable basis,

sharing the aspiration to provide easy access to the potential suppliers and suppliers registered in the territory of one state member to participation in the public (municipal) procurements which are carried out in other state member

relying on the principles of equality and mutual advantage taking into account economic interests of state members,

in view of need of proper protection of the rights of customers when implementing the public (municipal) procurements,

agreed as follows:

Article 1

For the purposes of this agreement concepts which mean the following are used:

"bank guarantee" - guarantee (independent guarantee) issued by the guarantor registered in the territory of state member of principal for providing obligations, stipulated by the legislation state member of the beneficiary in the field of the public (municipal) procurements;

"beneficiary" - the customer for benefit of whom the bank guarantee is issued;

"principal" - the potential supplier or the supplier to whom the bank guarantee is provided;

"the register of bank guarantees" - the register of state member of the beneficiary containing stipulated by the legislation state member of the beneficiary in the field of the public (municipal) procurements information on the issued bank guarantees.

Other concepts used in this agreement are applied in the values defined by the Agreement and international treaties within the Eurasian Economic Union.

Article 2

Subject of this agreement is ensuring mutual recognition of the bank guarantees issued by the guarantors registered in the territory of state member of principal for the purposes of the public (municipal) procurements conducted by the beneficiary of other state member.

The bank guarantees issued taking into account provisions of this agreement are recognized state members when implementing the public (municipal) procurements.

Action of this agreement does not extend on:

the public (municipal) procurements, data on which according to the legislation of state members are the state secret (the state secrets);

the procurements conducted by national (central) banks of state members.

Article 3

The guarantor registered in the territory of state member of principal shall be bank according to the legislation of this state member and conform to the following requirements:

lack of the measures for the prevention of its economic insolvency (bankruptcy) and improvement of financial condition (financial improvement) applied to the guarantor according to the legislation of state member of principal within 6 last months;

if the requirement about availability of credit rating is stipulated by the legislation state member of the beneficiary, - availability of the credit score assigned by credit rating agency of state member of the beneficiary, the requirement to which level is stipulated by the legislation state member of the beneficiary, or compliance to the criteria approved by Council of the Eurasian economic commission (further - the Commission).

Article 4

1. The guarantor registered in the territory of state member of principal and conforming to requirements, stipulated in Clause 3 this agreements for the purpose of issue of the bank guarantee for participation in the public (municipal) procurements of the beneficiary of other state member shall be included in the list of guarantors of state member of the beneficiary (further - the list of guarantors) if the legislation of state member of the beneficiary in the field of the public (municipal) procurements provides forming of such list. Establishment by the legislation of state member of the beneficiary in the field of the public (municipal) procurements of the requirements to guarantors which are not provided by this agreement for the purposes of inclusion of guarantors in the list of guarantors is not allowed.

Inclusion in the list of guarantors is performed according to the procedure, established by the legislation of state member of the beneficiary in the field of the public (municipal) procurements, based on information obtained by authorized body of state member of the beneficiary from authorized body of state member of principal.

2. The guarantor is excluded from the list of guarantors based on information of authorized body of state member of principal in the following cases:

discrepancy of the guarantor to requirements of this agreement;

submission of the written application of the guarantor about exception of the list of guarantors.

3. The guarantor's exception of the list of guarantors does not terminate the bank guarantees issued to them and accepted by the beneficiary and does not exempt the guarantor from liability for non-execution or improper execution of obligations according to such bank guarantees.

4. The structure of information provided by this Article, and also procedure for exchange of such information are determined by Council of the Commission.

Article 5

Form and content of the bank guarantee legislations of state member of the beneficiary shall conform to requirements. The bank guarantee shall be included in the register of bank guarantees according to the procedure, established by the legislation of state member of the beneficiary in the field of the public (municipal) procurements (if such legislation provides forming of the specified register).

To the relations connected with representation by the beneficiary to the guarantor of the requirement for the bank guarantee with its consideration by the guarantor, the legislation of state member of the beneficiary is applied.

Article 6

Disputes and disagreements between the beneficiary and the guarantor, and also between the beneficiary and the principal are considered judicially in place of registration of the beneficiary according to the legislation of state member of the beneficiary.

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