MTB Bank and E-Tender allow online tender guarantee requests

According to MTB Bank, legal entities and individual entrepreneurs (FOP) can now submit a request to obtain a tender guarantee directly through the E-Tender personal account.

Processing times and guarantee limits

Issuance of the guarantee is possible from 3 hours after the terms are agreed. The amount of the guarantee or the bank-approved limit can be up to UAH 10 million.

a person submitting an application on a laptop in an office

Participants can arrange guarantees for several procurements at the same time within the bank-approved limit. Opening an account with MTB Bank is not required to use the service.

Procedure for submitting and issuing a guarantee

A request for a guarantee is submitted online via the E-Tender platform’s personal account while working on a procurement. After receiving the application, MTB Bank reviews it and agrees the terms of the guarantee with the client.

an electronic bank guarantee on a tablet screen

After the terms are agreed and the necessary documents are prepared, the participant receives an electronic bank guarantee for use in the relevant procurement. Final terms of the guarantee — including the fee amount, type of coverage and collateral requirements — are determined by the bank after reviewing the application.

Types of bank guarantees used in procurements

A bank guarantee is an instrument under which the bank undertakes to make a payment to the beneficiary if the conditions specified in the guarantee occur. In public procurements, two types of guarantees are most commonly used.

  1. Bid security — confirms the participant’s commitment within the procurement procedure and provides for payment to the contracting authority should the conditions of the guarantee occur.
  2. Performance security — used after contract signing and ensures the supplier’s fulfilment of contractual obligations within the terms of the guarantee.
Daria Liubatska

Daria Liubatska

Journalist, personal finance

Journalist at Concord Fintech. She covers personal finance: deposits, insurance, pensions, taxes, benefits and subsidies, explaining how new rules and government decisions affect household budgets. She works with official notices and primary sources.

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