{"id":123710,"date":"2019-08-20T14:10:12","date_gmt":"2019-08-20T14:10:12","guid":{"rendered":"https:\/\/armbanks.am\/2019\/08\/20\/248692\/"},"modified":"2024-12-15T13:38:31","modified_gmt":"2024-12-15T13:38:31","slug":"eec-to-prepare-draft-agreement-on-mutual-recognition-of-bank-guarantees","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2019\/08\/20\/123710\/","title":{"rendered":"EEC to prepare draft agreement on  mutual recognition of bank guarantees"},"content":{"rendered":"\n<p><strong>YEREVAN, August 20. \/ARKA\/. <\/strong>The Eurasian Economic Commission (EEC), the executive body of the Russia-led Eurasian Economic Union (EEU) will have prepared a draft agreement on the mutual recognition of bank guarantees for public procurement before July 1, 2020, the Eurasian Development Bank (EDB) reported.<\/p>\n\n\n\n<p>It said the agreement is expected to help ensure equal conditions for all EEU member countries in making public procurements.<\/p>\n\n\n\n<p>When  preparing the draft agreement, the EEC requested that the government of the Russian Federation  amend a legislation that provides for the use of bank guarantees of the Eurasian Development Bank and the Interstate Bank after they receive  credit ratings of Russian rating agencies.<br>\nThis will prevent restrictions on the rights of entrepreneurs of member states who wish to participate in procurements in Russia.<\/p>\n\n\n\n<p>The EEU Treaty provides for at least two ways to secure an application for participation in public procurement in the national legislations of member  countries. One of them is a bank guarantee. However, a Russian legislation restricts acceptance of bank guarantees issued by banks of other five member countries.<\/p>\n\n\n\n<p>In accordance with the legislation of the Russian Federation, banks that are granted the right to issue bank guarantees for public procurement must be included in a special list compiled by the Ministry of Finance of Russia and have an appropriate rating assigned by rating agencies. &#8211;0&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Eurasian Economic Commission (EEC), the executive body of the Russia-led Eurasian Economic Union (EEU) will have prepared a draft agreement on the mutual recognition of bank guarantees for public procurement before July 1, 2020, the Eurasian Development Bank (EDB) reported<\/p>\n","protected":false},"author":1,"featured_media":181001,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[12457,14970,319],"class_list":{"0":"post-123710","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-agreement","10":"tag-eec","11":"tag-319"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/123710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=123710"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/123710\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/181001"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=123710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=123710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=123710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}