UrBC, Yekaterinburg, July 23, 2015. The Ural Bank for Reconstruction & Development now offers its express bank warranty in more Russian cities, including Yekaterinburg. It only takes a business two days to get their application for a state procurement tender backed up by the bank, their press service reports.

‘How quickly the bid is completed and the warranty to back it is obtained is a key factor in winning in the auction. A business that has just joined the system or only takes part in such tenders occasionally is the one which our simple mechanism of express security is aimed at. As for regular bidders, they can benefit from our Tender Package: you apply for it just once and then receive the backing in just one day,’ says Svetlana Myznikova from the bank’s Corporates Department.

The UBRD offers warranties, bid and customs guarantees, VAT indemnity, and Rosalcoholregulirovaniye (the alcohol regulator) warranty.

The state procurement website states 34,684 lots (opening bids amounting to 59.851bn RUR all in all) were put up to auction in Sverdlovsk Region in the first half of the year. This was 24.4% more than a year earlier, and twice as much as a year earlier in terms of the opening bids’ overall amount.