Participants in electronic auctions for the sale of state property will be refunded guarantee fees in case of default by the partner bank

As part of the execution of the order of the Supreme Audit Chamber of the Republic of Kazakhstan, important changes have been made to the regulations for conducting electronic auctions for the sale of state property.

The changes are aimed at protecting the rights of bidders: now "Information and Accounting Center" JSC is responsible for returning guarantee fees to bidders in case of default by the partner bank.

The imperfection of the regulations was revealed during the performance audit of the state policy in the field of privatization. As a result, "IAC" JSC received a corresponding order from the Supreme Audit Chamber. To date, the order has been fulfilled, the changes have entered into force.

At the same time, in accordance with the instructions of the Supreme Audit Chamber, information about the electronic trading platform on the official website of the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan and the web portal of the State Property Registry of “IAC” JSC has been updated.