UrBC, Yekaterinburg, July 1, 2016. The Ural Bank for Reconstruction & Development expanded the list of criteria that make a business eligible to apply for bank guarantees (up to 10m RUR), with no collateral required, the bank’s press service reports.

For one, the bank will look into a company’s tender-bidding record for the last three years; those winning and completing at least two projects will be prioritized. Then, customers with a settlement account in the bank that was opened at least six months ago can apply for BGs (up to 300,000 RUR) with no collateral required.

Thanks to the bank’s scoring system, applicants can obtain the bank guarantees in accordance with the 44-FZ/223-FZ Act in as little as two days. This option is available to businesspeople in all the territories where the bank operates.

The UBRD is one of the Russian Finance Ministry-approved fifty-seven banks that can offer BGs to companies applying for government purchase tenders.