UBRD Offers More Bank Guarantees

13 March 2018 (09:42)

UrBC, Yekaterinburg, March 13, 2018. The Ural Bank for Reconstruction & Development (UBRD) keeps expanding the range of bank guarantees available to businesses competing for contacts in government tenders. Companies can now apply for Contract Guarantee, the bank’s press service reports.

‘This is a universal banking product suited for both government auctions and covering one’s government and commercial tender liabilities. The upper limit is set at RUR 30m. You can apply for the guarantee on the bank’s website or at any of our business customer branches,’ the bank’s press service says.

Express guarantees needed to take part in Federal Act 44 FZ- and Federal Act 232 FZ-regulated tenders were extremely popular in 2017. The UBRD issued 13,683 bank guarantees last year, with commission-based revenues exceeding those obtained in 2016 by 33.7%.

Private enterprises are also growing increasingly more interested in coordinating their own auctions. Based on the bank’s statistics, customers applying for bank guarantees in order to take part in a commercial auction made up 12% of all applicants in 2016 and 27% a year later. Contract Guarantee package was designed specifically with this customer segment in mind. You sign up for the package once and can get any number of guarantees within the RUR 30m limit in only twenty-four hours.

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