Bank Guarantees Accepted As Security for an Application and Performance of a Contract: Current Issues

Th e article is devoted to the changes made in part 2 of article 44 and part 52 of article 112 of the Law on the contract system and Government Decree No. 1005 of 08.11.2013, which will come into force from 01.07.2019 in respect of securing applications for tenders and auctions held in electronic form. In particular, innovations concerning the rules of application of bank guarantees are considered. Th e issues are disclosed related to the refl ection in the accounting and tax accounting operations on bank guarantees.

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