The Ministry of Finance of Russia explained the nuances of providing security for warranty obligations under the contract
In particular, the letter prepared by the specialists of the Ministry notes that the term of the Bank guarantee provided by the counterparty to ensure the guarantee obligations must exceed the term of performance of the guarantee obligations stipulated by the contract for at least one month. In this case, the period of return to the counterparty of funds deposited as collateral for warranty obligations shall not exceed 30 days from the date of performance of warranty obligations. And in case of establishment by the customer of the restriction provided by part 3 of Art. 30 of the Federal law of April 5, 2013 No. 44-FZ "on contract system in the sphere of procurement of goods, works, services for state and municipal needs" (hereinafter – Law No. 44-FZ), such period shall not exceed 15 days from the date of performance of warranty obligations provided for in the contract.
Also stresses that the possibility of reducing collateral contract, provided h 7.1 and h 7.2 article 96 of Law No. 44-FZ on ensuring the warranty does not apply.
Document: Letter No. 24-03-07/63253 of the Ministry of Finance of the Russian Federation dated August 19, 2019