Abstract

A bill of exchange, with a bill of exchange guarantee from a bank or a cooperative savings and loan association (SKOK), is one of the permissible forms of a performance bond for a public procurement contract.
However, using it requires the consent of the contracting authority, which is rarely given. This is usually due to insufficient knowledge about the provisions of law concerning bills of exchange, a fear of the formal rigidity of the accompanying obligations, as well as the statutory restriction on guarantors being banks and SKOKs. In practice, many doubts are raised by the nature of the bill of exchange, the term of payment and the manner of transferring it, as presented in this study with regard to using it for a performance bond. Hence, the issues of this form of security need to be appropriately regulated de lege ferenda, taking into account the specific nature of public procurement.