Working with credit institutions in general and with commercial banks has always had special specifics. Who knows, he will agree with me. Very often, when hiring, HR managers look for analysts who have experience in the banking industry. This is almost always the key condition. But the most important condition for working in a bank is compliance with the requirements information security.
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1.1 A little about information security of commercial banks |
What is so special about the banking industry?
Firstly, these are high security requirements. In the new official document “STANDARD OF THE BANK OF RUSSIA” (STO BR IBBS-1.0-2014 - “ENSURING INFORMATION SECURITY OF ORGANIZATIONS OF THE BANKING SYSTEM (BS) OF THE RUSSIAN FEDERATION” dated 01.06.2014), which was adopted and put into effect by the Order of the Bank of Russia dated 17 May 2014, the general provisions of its information security (IS) are defined.
The document defines the following.
The main goals of standardization for providing information security to RF BS organizations:
- development and strengthening of the RF BS;
- increasing confidence in the RF BS;
- maintaining the stability of RF BS organizations and, on this basis, the stability of the RF BS as a whole;
- achieving adequacy of protection measures to real information security threats;
- preventing and (or) reducing damage from information security incidents.
- establishment of uniform requirements for providing information security to RF BS organizations;
- increasing the efficiency of measures to ensure and maintain information security of RF BS organizations.
Thirdly, oddly enough, banks are accustomed to spending a lot of money on automation, as a result of which inexpensive systems make them suspicious of their “frivolity” and are rejected without studying the possibilities, prospects, and so on.
Information security issues are a huge topic and are not discussed in this article. I am only providing an understanding of what needs to be skillfully justified, where the boundaries of information security requirements are, and that, where possible, there is freedom to apply new solutions. The more you refer to regulatory documents in this case, the better.
The key information system of the bank is the ABS - automated banking system. No one has the right to touch this system, in terms of any integrations. This was the requirement that was voiced to me at the very first meeting. And I realized that to solve the problem of issuing bank guarantees, my favorite product - . Moreover, there is a “boxed” edition that is installed on the bank’s server and is part of the information technology infrastructure that ensures proper information security.
As a result of my work, a full-fledged system of document flow and control over the execution of decisions should be introduced.
System users should not be tied to a specific workplace geographically or informationally. That is, it should be a WEB system, for the operation of which the user at the workstation does not need anything other than Internet access and an installed modern browser.
I must conduct a full-fledged business analysis of the processes (starting with the analysis of regulatory documentation of the bank and supervisory authorities) that arise when issuing bank guarantees. Create Technical Specifications as part of the project documentation, as well as operational documentation within the framework defined in the project.
Conduct testing and implementation of the system and its launch, first into pilot and then into commercial operation. Train key users, organize system support (in fact, organize a technical support service for the system as a service of the bank’s information technology service).
Based on the results of implementation and maintenance, collect and formalize additional requirements for the system, structuring them in accordance with the classic approach of bug tracking systems.
- Bug (must be corrected as it occurs and included in the appropriate report).
- Task.
- Issue.
- Change Request.
Organize a cyclical process of managing changes and requirements for the system in order to improve it and be flexible in relation to changing external conditions, for example, legislation.
| 2 Business process diagramming |
Well, how do you like the tasks (item 1.3) for me in the project? It would be a great article if I were to describe everything. But, the boundaries of the project for writing this article are description business process implementation issuance of bank guarantees.
In my previous articles, in particular, here, I dwelt in detail on creating a business process. In this case, I won’t tell you anything new. Below I present the developed diagrams and table (Table 1) of the business process roles.
Table 1. Roles in the business process.
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Role name |
Reduction |
Description of main functions |
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Agent curator |
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Sales manager |
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Lending and Investment Department |
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Security Department |
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Legal department |
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Managing your own operations |
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National Credit Bureau |
External organization |
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Authorized person of the bank |
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Secretary of the small credit committee |
Secretary of the ICC |
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Principal |
Recipient of the Guarantee |
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Accounting Department for Credit, Deposit and Interbank Transactions |
OKDMO |
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Beneficiary |
Recipient of the commission on the issued Guarantee |
I'm totally developing business process diagrams and I am creating a Technical Specification, which simply does not fit into the scope of this article.
I would like to note that a great help to the analyst in describing business processes for banks is the good formalization of the activities of banking processes and employees, as well as the presence of regulations. Although I came across a large and slightly confusing regulation, BUT it still WAS! This, of course, does not cancel the writing of new regulations after the implementation of the system, since processes in connection with the implementation of a business process change in any case.
After developing a business process diagram, I provide a brief description in text form with explanations of the details. This allows business process owners to accurately “read” the diagram and confirm its compliance with those real processes in the work that should be automated as a result of implementation.
| 3.1 Preparation |
Next, you need to invite users to the configured staffing structure of the organization in the system and to groups that define the functionality of the employees who are included in such groups. In other words, the groups must correspond to those groups that are described in the business process.
There are many implementation options business processes with Bitrix24. Immediately, as they say, “on the shore”, it is necessary to decide in relation to which entity of the system business processes will be built. Since this topic (choosing which entity to base process automation on) is quite extensive, I will not dwell on it in this article, but will only say that I chose the “Lists” entity of Bitrix24.
For the list, you need to define a set of fields and variables, as well as parameters for the business process. Let's call the entity “List” - “Agreement for the issuance of a guarantee”. Thus, the entity of the list “Agreement for issuing a guarantee” will act as a support for our business process.
To get started, you need to deploy the Bitrix24 system itself in some edition in your organization and enable support for business processes.
A complete description of all the features of creating business processes in Bitrix24 is not the purpose of this article.
In my previous article, published on the Pinol company website, I described the creation and execution of a business process in the document flow of a small organization. The only difference in the business process of this article is that this business process is created for the “List” entity and is more capacious than that one.
Based on the created Terms of Reference with a description of business processes, including diagrams, I create a workflow in the system for the entity “Agreement for the issuance of a guarantee”.
| 4 Business process diagrams |
A bank guarantee is one of the most effective tools for ensuring the security of a transaction.
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By its nature, it is a credit product, but it is many times cheaper than a cash loan. For the provision of these services, the bank takes its own interest - a commission.
What it is
A bank guarantee is a written obligation of the bank to pay a certain amount of money to the customer in the event of failure by the contractor to fulfill the terms of the contract.
This instrument ensures the proper fulfillment of contractual obligations. For some transactions, this method of risk reduction is the main condition for cooperation.
There are three subjects involved in this process:
- guarantor - a financial institution that, for a certain fee (commission), undertakes an obligation;
- principal - the executor (debtor) under the main contract, the initiator of the provision of the obligation;
- beneficiary - the customer (creditor) under the main contract, whose interests are protected.
Kinds
The main classification of bank guarantees is based on the type of transaction being secured.
Guarantees are provided:
- tender (competitive) – reduces the customer’s risks if the winner of the tender refuses further cooperation;
- performance guarantee – guarantees timely and full delivery of goods, performance of work or provision of services;
- payment – ensures timely payment for work performed or goods delivered;
- advance – guarantees the return of the advance payment in case of failure to fulfill the terms of the transaction in terms of volume or terms;
- customs, tax – ensures proper fulfillment of obligations to these government agencies.
There are other types depending on the purposes of the main transaction. Bank guarantees are also divided according to other criteria - revocable and irrevocable.
Why do you need a bank guarantee in simple terms?
To explain what a bank guarantee is in simple language, it is convenient to use an example.
The scheme of work is as follows:
- company X (principal) enters into a contract for the supply of a consignment of goods with company Y (beneficiary), who is the customer or buyer of this product;
- firm Y requires guarantees that the terms of the contract will be fulfilled properly - the goods will be delivered in full and on time;
- for this purpose, company X or the executor under the contract engages a third party - bank Z (guarantor) to obtain a guarantee in the form of a written document;
- the guarantor bank, for a certain fee, undertakes to pay to form Y the agreed amount, for example, 30% of the amount of the main contract in the event of its failure to be fulfilled by company X;
- upon the occurrence of such a warranty event, Company X must demand payment of remuneration in writing;
- Bank Z will pay the agreed amount to the beneficiary and demand recourse from Firm X to reimburse the funds paid.
There is another way to secure a transaction - a cash deposit, but for this, the executing company must withdraw the required amount of money from circulation. This is unprofitable, especially since it is often necessary to attract borrowed funds, which is 8-10 times more expensive.
Stages of registration
The entire registration procedure is described in seven stages:
- the need to secure the transaction arises;
- search by the contractor for a guarantor bank under the contract;
- writing an application for a guarantee;
- submitting an application and package of documents to the bank;
- checking the client's solvency;
- conclusion of an agreement between the bank and the client;
- drawing up a guarantee agreement;
You can search for a suitable bank yourself or through a broker. You can also contact any branch of Sberbank, which works exclusively directly without intermediaries.
Video: What participants need to know
Package of documents
By issuing a guarantee obligation, the bank risks its own funds, which must be paid upon the occurrence of the guarantee obligation. l teaching. In the future, the client is obliged to return these funds, so the bank must make sure that the client is solvent.
The required package of documents depends on the specific bank, but its main components are:
- questionnaire, application;
- copies of TIN, extract from ERGYUL, issued no more than 30 days ago;
- a notarized copy of the minutes of the constituent meeting, a copy of the registration certificate;
- an up-to-date list of all LLC participants and copies of their passports;
- copies of licenses and certificates;
- lease agreements or ownership of premises;
- copies of documents authorizing the manager and chief accountant, as well as their passports;
- a copy of the draft secured transaction;
- balance sheet, profit and loss report for the last year;
- financial statements for the last six months;
- with the simplified tax system you need a declaration of income and expenses for the last year, with UTII - a tax declaration;
- certificate of absence of debts;
- audit report, etc.
The bank may also require copies of documentation on successfully completed similar contracts and similar confirmation of the company’s reliability.
Requirements
Before the bank agrees to issue a guarantee, the client will be checked for financial stability.
The principal company must meet the following requirements:
- period of activity on the market for at least 6 months;
- turnover must correspond to the amount of the obligation;
- there should be no unprofitable periods in the reporting except for seasonal ones;
- there should be no overdue debts in your credit history, and sometimes the bank requires no loans;
Often you need to have a current account at the same bank.
Sample
The law of the Russian Federation does not dictate strict requirements for the drafting and appearance of a bank guarantee agreement. However, the regulatory framework dictates the main provisions that must be included in this agreement.
Main legislative documents:
- for state and municipal contracts - Law 44-FZ;
- for certain types of legal entities - Law 223-FZ;
- clause 4 art. 368 part 1 of the Civil Code of the Russian Federation.
Samples of basic documents:
How to check in the register of guarantees
All guarantees issued on the basis of Law 44-FZ must be entered into the Register. To check, you need to visit the portal of the Unified Information System in the field of procurement. According to Art. 45 clause 11 of Federal Law No. 44-FZ, information must be entered into the system within one day from the date of registration of the warranty obligation.
Other guarantees issued on the basis of 223-FZ are not included in the register; they can be checked on the Central Bank website in the section of the directory of credit institutions. Here you need to find the bank, the turnover sheet and column No. 91 315 - turnover on guarantee obligations.
In column No. 91 325 you will see a figure that should be compared with the amount of the guarantee obligation:
- zero or less – turnover does not reflect the issuance of a guarantee;
- equal or greater – the bank issues guarantees.
However, for small amounts, data is allowed to be entered at the end of the quarter.
List of banks
The Ministry of Finance provides a monthly list of banks that are allowed to issue bank guarantees. Therefore, you can find information about the list of such financial institutions on the Ministry of Finance website.
Validity of receipt
In order for the beneficiary to receive the amount of remuneration under the guarantee, justification is required.
These reasons could be:
- the contractor did not fulfill the terms of the transaction;
- the contractor refuses to provide documents certifying the proper execution of the contract;
- in case of violation of the terms of the main transaction by the contractor.
The list of required documents must be specified in the guarantee agreement.
Cost and example of its calculation
1. After appropriate tripartite negotiations with the initiator of the transaction, the TCC company, as a representative of the Beneficiary/Lender and the Principal/Applicant BG as the Borrower, a Loan Agreement is signed to finance the investment project of the Principal/Applicant/Borrower. This Loan Agreement is submitted to the issuing bank.
2. The Borrower/Applicant/Principal initiates the issuing of an information letter from the issuing bank (RWA) by the bank officer about the intention to issue a Bank Guarantee to his address while simultaneously sending copies of the letter from the official E-mail of the issuing bank to E-mail: This email address is being protected from spambots . You must have JavaScript enabled to view it. (our company), as well as for a third party - the final Beneficiary-Lender.
Thus, we gain the right to sign appropriate agreements on the monetization of a banking instrument with financial structures known to us who agree to work with us under certain conditions. We also provide this agreement to the issuing bank for issuing the BG to the final Beneficiary.
3. In accordance with our letter to the Borrower/Principal and the Agreement for receiving investment loan funds submitted to the bank, the Principal/Applicant BG initiates the sending by the issuing bank via SWIFT MT799 Pre-Advice to the Ultimate Beneficiary’s account in the funding bank. In case of problems with receiving SWIFT MT799 Pre-Advice by the receiving bank, the Applicant/Borrower will arrange for the simultaneous e-mail of a certified copy of SWIFT MT799 Pre-Advice from the official E-mail of the issuing bank to the Beneficiary's bank and (CC copy) to the Lender.
4. Within 3 (three) banking days after receiving and confirming SWIFT MT799 Pre-Advice from the Borrower’s issuing bank, the Funding Bank will send SWIFT MT799 about its readiness to accept the BG via SWIFT MT760 and confirm the availability of funds.
5. Within 3 (three) banking days after receipt and confirmation of SWIFT MT799 about the readiness to accept the BG by the Beneficiary's bank, the issuing bank of the Borrower will send the BG via SWIFT MT760 to the receiving bank specified by the Lender for the designated Beneficiary. If necessary, the Applicant/Borrower arranges for the simultaneous e-mail of a copy of SWIFT MT760 from the official E-mail of the issuing bank to the Beneficiary's bank and (CC copy) to the Lender and (if any) to its representative.
6. Within 7 (seven) banking days after receipt and successful verification of SWIFT MT 760 in accordance with the Agreement with the Lender, the Issuing Bank will send the original of the Financial Instrument to the Receiving Bank by courier mail.
7. Payment of the Loan to the Borrower will be made by the Lender in full (LTV%) or in the agreed amounts in accordance with the schedule and other conditions previously agreed upon in the Agreement with the Lender.
A bank guarantee, how it works, the scheme – this article will help you understand these issues. A bank guarantee is a method of insurance and safe conduct of monetary transactions, which has become very popular lately.
Bank guarantees, what are they? Scheme of work
It is enough to understand how a bank guarantee works so that in the future it is easy and simple, without additional hassle, to enter into transactions with the bank. When a contract is concluded between the customer and the contractor, the customer pays him large sums, and However, in this case, the customer or buyer of the service risks being deceived and losing his funds, therefore, before concluding the contract, he requires the provision of a bank guarantee from the contractor. The contractor, in turn, to complete the transaction must contact a banking organization to arrange such a service. Upon agreement, the bank undertakes to pay the customer the assigned amount if the contractor fails to fulfill the terms of the contract. At the same time, the customer or buyer loses practically nothing if the deal falls through.
Then a bank guarantee, the scheme of which includes three elements, is very easy to understand:
- The first element is the customer of the service from the contractor, which is quite expensive. In order not to risk money, the customer requires a money-back guarantee to complete the contract;
- The second element is the contractor, who, in order to formalize the contract, is obliged to contact a bank or other financial organization in order to receive such a service;
- The third element is the bank, which agrees to issue the required amount at a certain percentage.
What are bank guarantees?
However, it is not enough to understand how a bank guarantee works; you need to be able to understand the types in order to order the right service if necessary. Currently the most common are:
- Standard. This type was described at the beginning of the article, that is, it ensures the reliability of the transaction so that the contractor fulfills the assigned conditions;
- Tender or competitive. This type is necessary for the customer, who requires it from the winning participant in the competition, so that in case of refusal to complete the competition work, he can return the funds;
- Payment. It is necessary to ensure payment for any goods or services;
- Advance, guarantees the return of the advance payment;
These types are the most common, but there are others.
How to apply
- First you need to decide on a bank that will provide such a service. The choice must be approached very carefully; it is important to look at the bank’s solvency, the percentage of funds issued, etc., and also pay attention to the cost of services;
- Then you need to manually fill out an application for the service, in which you indicate the necessary information. A sample can be viewed on the Internet;
- After this, you need to go to the bank, or send an application electronically, along with the application you must attach a package of documents;
- After the application is reviewed, the bank assesses solvency;
- Upon receipt of a positive result, a guarantee agreement is drawn up and signed, under which the bank undertakes to pay an amount, the amount of which is specified in advance in the agreement.
The principle of how a bank guarantee works is not difficult to understand; it is important to choose the right organization that will provide it; it is better to spend several hours searching for it than to have unwanted surprises later.
Hello, dear colleague! This article will discuss obtaining a bank guarantee. This topic is relevant for most procurement participants who have become winners in government tenders or want to use BG as security for an application. For this reason, I will try to consider in as much detail as possible all the stages of obtaining BG, and will give you a step-by-step algorithm that will allow you to painlessly overcome each stage. There will be quite a lot of information, so you can make yourself a cup of coffee and spend 10-15 minutes studying the article. And so, let's go...
1. The concept of a bank guarantee
Step 2. Find out from the selected bank under what conditions it is possible to issue the required financial statement, as well as what list of documents should be provided to obtain it.
Step 3. Agree on a tariff.
Step 4. Fill out an application for obtaining a BG and send it along with a package of documents.
Step 5. Agree on the BG project.
Step 6. Pay the bill.
Step 7 Get BG.
This is what the process of obtaining a bank guarantee currently looks like.
Actions of the procurement participant after registration of the BG
Step 1. Receive the following package of documents from the banking institution, which should include:
- one copy of the concluded agreement on the provision of a bank guarantee;
- the original of the BG itself;
- extract from the register of bank guarantees.
Step 2. Check the issued guarantee for its compliance with those established in Article 45 of 44-FZ.
9. How much does a bank guarantee cost?
And at the end of today’s article I would like to say a few words about the cost of a bank guarantee. The process of obtaining a bank guarantee is similar to obtaining a loan from a bank. In essence, this is a service, the cost of which depends on supply and demand for it. And as you know, demand creates supply. Therefore, the cost of registering a bank account in different banks may vary significantly.
Let's take a look at what can affect the final cost of the BG.
Firstly, this is the amount of the guarantee amount.
Secondly, this is the subject and validity period of the BG.
Third, this is the presence or absence of collateral (collateral). A guarantee without collateral costs more. Currently, the commission for issuing BG ranges from 1% to 10%. On average it is 3-5%. Below you will find an example of calculating the cost of a BG provided as security for the performance of a contract.
Example of calculating the cost of a bank guarantee
Let's assume that a procurement participant wins a contract to renovate a kindergarten. NMCC for this facility is 30,000,000 rubles. The amount of contract performance security established in the documentation is 30% of the NMCC, i.e. 9,000,000 rubles. The period for repair work under the contract is 12 months (1 year). For example, let's take the interest rate for issuing a bank account equal to 3%.
Now let's calculate the cost of the BG:
30,000,000 x 30% x 3% x 1 = 270,000 rubles.
Thus, it turns out that in order to receive an order worth 30 million rubles, the winner needs to purchase a BG for 270 thousand rubles, which is much more profitable than withdrawing 9 million rubles from the organization’s turnover for 12 months and transferring them to the Customer’s account.
That's all for today. See you in the next articles.
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