Azerbaijan is simplifying public procurement for non-residents. A new bill proposes to ease the process of performance and advance guarantees.
The Milli Majlis Economic Policy Committee discussed amendments to the "Law on Public Procurement." The draft allows non-residents to be exempted from guarantee requirements in certain cases.
Currently, foreign suppliers must provide performance and advance guarantees. Failure to do so hinders treasury payments. The new proposal aims to resolve this issue.
Under the changes, non-residents can be exempted from guarantees based on the proposal of the supervisory authority. This will help budget organizations fulfill their obligations.
