OREANDA-NEWS.  February 20, 2012. Amendments introduced to the Procurements Regulations of IDGC of the North-West. Company striving to make their procurement proceedings as transparent as possible.

Standardized procurements arrangement procedure amended in pursuance of instruction of Chairman of the Government of the Russian Federation.

IDGC of the North-West, JSC is establishing the requirement for procurement participants to provide details concerning their chains of ownership including beneficiaries. The amendments to the Regulations on the Procedure for Carrying Out Standardized Procurement of Goods, Works and Services for the Needs of the Company have been introduced in pursuance of Instruction No. VP-P13-9308 of Chairman of the Government of the Russian Federation dated December 28, 2011. The amendments were approved of by the Board of Directors on January 31, 2012 and have been enacted since February 1, 2012. The Company strives to make their procurement proceedings as transparent as possible.

One has simplified the credit funds attraction and insurance services proceedings. Previously procurements had been carried out in accordance with the procedure envisaged by Federal Law No. 135. After adoption of the corresponding amendments the procurements proceedings have come to be governed by the Regulations on the Procedure for Carrying Out Standardized Procurement of Goods, Works and Services for the Needs of IDGC of the North-West, JSC. The procurements volume and cost are accounted for.

The new Regulation introduces re-bidding proceedings as a mandatory condition with regard to procurements in excess of 25 mln RUR (VAT included). Revision of the standardized procurements cost threshold to be 500 thousand RUR, VAT excluded (previously – the same sum less VAT) will increase the number of procurements falling within the scope of the restated Regulations.