ASF has published a guide on verifying and accepting surety insurance in public procurement

The Financial Supervisory Authority (ASF) has developed and published a guide on surety insurance used in public procurement. The document is intended for contracting authorities and economic operators and aims to prevent contractual risks, delays and bottlenecks in the implementation of investments financed from public funds.

The guide explains how these policies should be used, verified and accepted, presents applicable criteria and includes practical examples for the correct interpretation of the legal framework. ASF warns that accepting a non-compliant policy may expose the contracting authority to financial risks, while the unjustified rejection of a compliant guarantee may affect companies’ participation and the conduct of tenders.

Surety insurance is an alternative to tying up financial resources or using credit lines, allowing companies to retain liquidity for their ongoing operations. ASF President Alexandru Petrescu highlighted the role of these instruments in supporting public investment and strengthening economic predictability.

ASF First Vice-President Gabriel-Ioan Avrămescu stated that the document also clarifies the issuer’s status and authorization, as well as the conditions for enforcing the policy. The guide is available free of charge on the EduTime financial education platform.