FUIB has issued the first electronic guarantee to ensure competitive bidding in the ProZorro system

On 27 May 2016, First Ukrainian International Bank (FUIB) issued the first electronic guarantee. Tender guarantee with the use of electronic digital signature is an irrevocable monetary obligation of the bank issued in favor of the tender organizer at the request of the seller. This guarantee confirms the seriousness of the client's intentions to fulfill the conditions of the tender offer, namely to sign a contract in the event of their victory in competitive bidding, and the immutability of the conditions of client's tender offer after its submission.

"The use of electronic guarantees from FUIB allows our clients to improve their competitiveness, to gain access to new sales markets for their products and increases the mobility of tender offers – all bidders' offers are placed on trading platforms without the need for the physical presence of the bidder," emphasizes Olexiy Volchkov, FUIB's Deputy Chairman of the Board.

Electronic guarantees also allow FUIB clients to reduce the number of visits to the bank, to reduce to zero the risk to lose the original guarantee, and allow the bank to reduce the cost price of the product and to accelerate the process of its provision.

Eduard Deviatkov, director of the company "Austrian Engineering Polymers": "This year, our company for the first time used the electronic guarantee, which had been offered by FUIB. Thanks to this, we were able to take part in the electronic competitive bidding and as a result, we have won the tender. We are grateful to FUIB team for the fact that the bank promptly responds to market challenges, changes in the legislation and offers innovative products that meet the real needs of customers."

We would like to remind you that according to the Law "On Public Procurements", during 2016, all governmental authorities must switch to work in the ProZorro electronic system of public procurements.

You can find detailed information about tender guarantees and order a call by clicking on the link http://pumb.ua/ru/corporate_clients/financing_business/bank-guarantee/tender-guarantee/