Ukrgasbank provided USD 1.3 million tender guarantees to non-resident companies

State-owned Ukrgasbank has provided guarantees in the amount of $1.3 million to non-resident companies to participate in tenders in Ukraine through cooperation with leading foreign banks. The bank’s partners already include leading foreign banks from China, Turkey and Europe.

Today, according to Ukrainian legislation, non-resident companies can take part in tender purchases in Ukraine only by providing guarantees from a Ukrainian or a top foreign bank. From now on, this commitment is assumed by Ukrgasbank due to the expansion of international cooperation with leading foreign banks. This kind of cooperation allows Ukrgasbank to provide guarantees in favour of any organiser of procurement from the state or commercial segment.

For Ukrgasbank this commitment is a low-risk operation, with a payment term under guarantees of 3-4 days. Competitive conditions will encourage non-residents to participate in state tenders in Ukraine, raising the quality of the tenders themselves and reducing their cost.

29.01.2019