UBRD: Amount of Bank Guarantees Triples
25 November 2016 (13:21)
UrBC, Yekaterinburg, November 25, 2016. The Ural Bank for Reconstruction & Development reports a dramatic increase in the demand for bank guarantees based on Federal Acts 44 FZ, 223 FZ, and 615 PP, the bank’s press service reports.
The bank issued 2.2 times more guarantees in the third quarter of the year compared with the first quarter, while their overall amount actually tripled.
‘The rising demand was brought about by seasonal factors above all. State-run enterprises coordinate more tenders and auctions in November and December in order to use up this year’s budgets and find reliable suppliers for the upcoming year. This is why the end of the year is the best time for businesses to win a tender and ensure a stable inflow of orders,’ says UBRD Corporates Development Director Elena Sorvina.
‘Sverdlovsk Region-based businesses are our key customers at the moment, as they submitted 16.1% of all the bank guarantee applications this year; 12.16% of applications were placed by companies operating in Novosibirsk Region, and 8,94% were submitted by companies located in Bashkortostan. Typically, these are the businesses in the transportation, construction, production, and wholesale trade sectors that mostly take part in government auctions.
The bank recently made getting bank guarantees easier: now you only need to sign up for Tender Express Package once in order to be able to apply for any number of guarantees within a set amount in just four hours,’ the press service says.
The bank issued 2.2 times more guarantees in the third quarter of the year compared with the first quarter, while their overall amount actually tripled.
‘The rising demand was brought about by seasonal factors above all. State-run enterprises coordinate more tenders and auctions in November and December in order to use up this year’s budgets and find reliable suppliers for the upcoming year. This is why the end of the year is the best time for businesses to win a tender and ensure a stable inflow of orders,’ says UBRD Corporates Development Director Elena Sorvina.
‘Sverdlovsk Region-based businesses are our key customers at the moment, as they submitted 16.1% of all the bank guarantee applications this year; 12.16% of applications were placed by companies operating in Novosibirsk Region, and 8,94% were submitted by companies located in Bashkortostan. Typically, these are the businesses in the transportation, construction, production, and wholesale trade sectors that mostly take part in government auctions.
The bank recently made getting bank guarantees easier: now you only need to sign up for Tender Express Package once in order to be able to apply for any number of guarantees within a set amount in just four hours,’ the press service says.
 | Embed to Blog |  | Subscribe to Newsletter |  |