ArmInfo.The Armenian government has simplified the procedure for companies' participation in the public procurement process. A similar decision was made at a cabinet meeting on March 25.
In particular, henceforth, a bank guarantee will not be required if the volume of state purchases does not exceed 25 million drams, instead of the previously existing 10 million drams. In addition, companies that have a rating equal to or higher than that given to Armenia by international rating companies Moody's, Fitch and Standard & Poor's will also not need bank guarantees. At the same time, if earlier the size of the fine was 100%, with the introduction of changes this figure will decrease to 15%.
At the same time, as it was noted in the government, the percentage of requested bank guarantees has been changed. So, with the volume of state purchases in the range of 25 million to 70 million drams, the bank guarantee is reduced from 100% to 15%, in case of exceeding the volume of state purchases of 70 million drams, the bank guarantee is reduced from 100% to 30%.
In addition, the changes will also affect the maximum amount of prepayment (the amount paid to the company by the state) - with an increase to 50% from the previously existing 20%. For 2022, the amount of prepayment is provided at 30%.
It was also noted that due to these changes, insurance companies of Armenia can also be involved in the process of providing guarantees.
In this regard, RA Prime Minister Nikol Pashinyan expressed hope that such changes will significantly affect the country's economic activity.