AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF BELARUS AND GOVERNMENT OF THE RUSSIAN FEDERATION

of September 28, 2023

About mutual recognition of bank guarantees when implementing the public (municipal) procurements

The government of the Republic of Belarus and the Government of the Russian Federation which are hereinafter referred to as by the Parties

based on provisions of the Agreement on creation of the Union State of December 8, 1999,

expressing interest in strengthening of mutual cooperation in the field of the public (municipal) procurements on long-term and stable basis,

sharing aspiration in providing easy access of potential suppliers (contractors, contractors) registered in the territory of the state of one Party to participation in the public (municipal) procurements which are carried out in the state of other Party

relying on the principles of equality and mutual advantage taking into account economic interests of each of the states of the Parties,

in view of need of proper protection of the rights of customers (beneficiaries) when implementing the public (municipal) procurements,

agreed as follows:

Article 1

The terms used in this agreement mean the following:

"bank guarantee" - guarantee (independent guarantee) issued by the guarantor registered in the state of one Party for providing obligations which providing is stipulated by the legislation the states of other Party in the field of the public (municipal) procurements;

"the customer (beneficiary)" - person conducting procurement according to the legislation of the state of the Party in the field of the public (municipal) procurements for benefit of which the bank guarantee is issued;

"principal" - the potential supplier to whom the bank guarantee is provided;

"the register of bank guarantees of the state of the Party" - the register containing stipulated by the legislation the states of the Party in the field of the public (municipal) procurements information on the issued bank guarantees including for the purposes of the public (municipal) procurements.

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