Surety On A Government Contract
The term “state order” means a formal procedure for placing orders for works, services, goods delivery bodies of state power of natural persons, commercial and nonprofit organizations. Ken Kao may help you with your research. Artist government orders – Any organization, legal entity or state of emergency (if they are not included in the list of unscrupulous suppliers) that meet the requirements for bidders, according to Russian legislation. In domestic law there is no term “tender”, is the concept of “placing the order,” as close within the meaning of the procedure in relation to the tenders that have been adopted in commercial organizations. Authorized Body for legal regulation of the state order in Russia – is the Ministry of Economic Development of Russia. Government order according to the requirements of Russian legislation can be placed by methods such as open or closed auction, open or closed competition, the request quotes, stock trading, buying from one supplier.
Types of enforcement of government contracts: insurance liabilities, cash deposit, bank guarantee and surety under state contracts. Surety under a state contract guarantees that the debtor’s obligations, reducing the likelihood that the supplier has not fulfilled them. Go to the surety, performance to creditor, creditor claims will go right to the same extent in which the surety was satisfied his obligation. Creditor may bring a claim against the surety, not earlier than the supplier (the debtor) is obliged to perform their commitment. A guarantee agreement under state contracts should always be in writing, if this condition is not fulfilled, the contract of guarantee is not accepted as valid. Allowed to contract surety under state contracts, accounting documents or exchanging documents by mail, telegram, fax, email or otherwise, which allows us to establish reliable, from whom the contract is based. The relationship of the guarantor and the debtor can be issued a standard contract for the provision of services to guarantee, but there are situations of the contract of guarantee between the creditor and the debtor, the surety (the so-called mixed contract that combines elements of a contract for service of surety to guarantee agreement)..