Romania's ASF releases guide for public procurement guarantee insurance

The Financial Supervisory Authority (ASF) has published a new guide titled ‘Ghidul privind asigurările de garanții în procesul de achiziții publice’ (Guide on guarantee insurance in the public procurement process). The document is intended for both contracting authorities and economic operators to ensure the correct application of the legal framework.

The guide aims to mitigate contractual risks, delays, and potential litigation by providing detailed instructions on the use, verification, and acceptance of guarantee insurance policies. By offering practical examples and specific verification criteria, the ASF seeks to standardize practices and enhance professional capacity within the administration of public contracts.

ASF President Alexandru Petrescu noted that these financial instruments support a mature financial market and provide companies with greater resource flexibility while protecting the interests of beneficiaries. The initiative is viewed as a strategic step to support public investments and economic growth in Romania.