ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of May 28, 2014 No. 387

About approval of the Regulations on purchase of financial services by the state/municipal companies and commercial societies with completely or mainly the state capital

For the purpose of establishment of the procedure of selection of suppliers of financial services according to earlier established criteria (prudential regulations), and also for ensuring protection of economic agents against potential fluctuations in banking sector the Government DECIDES:

1. Approve Regulations on purchase of financial services by the state/municipal companies and commercial societies with completely or mainly by the state capital it (is applied).

2. To provide to the agency of public property by means of the representatives in administrative boards of the state companies and councils of commercial societies with completely or mainly the state capital decision making about purchase of financial services, according to the approved Provision.

3. Recommend to local authorities of public management ensuring decision making about implementation of purchases of financial services by the municipal companies and commercial societies with completely or mainly the capital of administrative and territorial units, according to the approved Provision.

4. The purchase agreements of financial services which are in process of implementation at the time of entry into force of this Resolution come to the end according to the procedures established for date of their initiation.

Approved by the Order of the Government of the Republic of Moldova of May 28, 2014 No. 387

Regulations on purchase of financial services by the state/municipal companies and commercial societies with completely or mainly the state capital

The regulations on purchase of financial services by the state / municipal companies and commercial societies with completely or mainly the state capital (further - the Provision) regulate procedure for holding procedure for procurement of financial services by the state/municipal companies and commercial societies with completely or mainly the state capital. This Provision is not applied in the situations connected with the conclusion of the agreement of bank loan.

Chapter I General provisions

1. In this Provision the following basic concepts are used: economic operator - bank which based on this provision can provide the offer in the course of framework of one tender;

tender - procurement procedure within which any economic operator can participate and provide the offer;

the offer - the legal act by means of which the economic operator expresses readiness of accomplishment of obligations, from the legal point of view, the purchase agreement of financial services;

ofertant - any economic operator who provided the offer on the conditions provided by this Provision;

the buying subject - the state/municipal company or commercial society with completely or mainly the state capital which holds competition on selection of the economic operator who will render him financial services;

financial services - the services necessary for the buying subject for implementation of the activities provided by bank within the license granted by National Bank of Moldova.

2. This Provision establishes the legal basis for the organization and holding procedure for procurement of financial services which will be carried out by the buying subject for the purpose of ensuring broad participation of banks, and also ensuring transparency in the course of their selection.

3. The purchase agreement of financial services is signed by the buying subject for up to 2 years proceeding from requirement.

4. For purchase of financial services, and also decrease in concentration risks of own financial resources, the buying subject can sign contracts with several banks according to the requirements.

Chapter II of the Condition for application

5. Purchase of financial services by means of tender is applied by any buying subject wishing to buy the financial services necessary for implementation of the activities.

6. Procurement of financial services by means of tender is conducted by the buying subject irrespective of the cost of future agreement, by means of the working group created for this purpose.

Chapter III Activities of working group

7. The working group represents the group of specialists created within the buying subject for initiation and holding procedures for procurement of financial services for requirements satisfaction of the buying subject.

8. The working group is created based on the special decision (order) or the order of the buying subject in number of at least five members, including the chairman and the secretary of working group who has the right to vote.

9. During forming of working group each member who will be included in its structure shall submit in writing the declaration on private interests and on absence or on availability of potential conflict of interest, according to appendix No. 1 to this Provision.

10. The buying subject shall attract in structure of the working group as full-fledged members of one or several representatives of the founder. The working group can be defunct, and its structure can be changed only by the buying subject who created it according to the special decision (order) or the order of the buying subject.

11. The working group carries out the work according to requirements of this provision, with respect for the principles of transparency, objectivity, impartiality and efficiency of implementation of purchases.

12. The meeting of working group is considered competent if at meeting there is majority of workgroup members.

13. In case one of workgroup members is absent on reasonable excuse, he is replaced (without issue of the special decision (order) or the additional order) the representative performing these functions for its absence. Carrying out this replacement is confirmed by entering of record into the protocol on opening of offers.

14. The working group performs the following functions:

a) analyzes and concretizes need for financial services of the buying subject;

b) claims and represents for the publication the invitation to participation in tender;

c) establishes criteria for assessment of offers;

d) initiates the corresponding procurement procedure;

e) considers, carries out assessment and compares the offers of economic operators provided for participation in tender;

f) determines won;

g) prepares for the conclusion of purchase agreements with the economic operators called won in strict accordance with the requirements provided in the invitation to participation in tender;

h) constitutes protocols on procedures of purchases.

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