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Tender guarantee

Tender guarantee is a necessary tool for companies which take part in tender-based procurements, in case the tender documentation specifies security in the form of a guarantee. Tender guarantee may be provided in the form of a paper document or electronically (electronic guarantee).

Granting of electronic guarantee is stipulated by Law of Ukraine “About Public Procurements” No. 922-VIII dated December 25, 2015, for conducting public procurements on-line in system ProZorro.

Electronic guarantee is an electronic document containing all terms of the guarantee, digital signatures of Bank’s authorized persons, and the Bank’s digital seal. A duly filed e-guarantee is sent to e-mail of the customer (principal), who may attach it to his tender offer and upload it in the relevant eprocurement web-platform accredited and connected to system ProZorro.

The main terms of the guarantee of JSC “PIRAEUS BANK ICB”:

  • Currency of the guarantee: UAH.
  • Amount of the guarantee: limited of the amount specified in the tender documentation.
  • Collateral: property rights on the deposit in JSC “PIRAEUS BANK ICB”; cash cover on JSC “PIRAEUS BANK ICB”account; another collateral on an individual decision.
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