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BSS's solution for banking support of contracts will provide banks with additional income and ensure compliance with legislation requirements

9 July 2018

BSS Company presents the solution created on the basis of platform "Enterprise Clearing Centre" (ECC) and the system of remote banking services for legal entities intended for banking support of contracts. Its relevance is stipulated not only by the implementation of Article 35 of the Federal Law "On Contractual System" and the Decree No. 963 of the Government of the Russian Federation "On Implementation of Banking Support of Contracts", but also by the possibility of obtaining additional income

Banking support of contracts (BSC) is the guarantee and responsibility of the bank for the targeted and timely use of funds under contracts. The BSK assumes the opening of a separate bank account by the bank and the provision of services for monitoring and approval of supplier’s (contractor, executor) operations in accordance with the terms of the contract and the legislation of the Russian Federation.

To make things easier for banks and automate the process of banking support of contracts, BSS Company developed a specialized solution based on platform "Enterprise Clearing Centre" well-established in banks and corporations, and the RBS system for legal entities. The product complies with the legislation requirements on the support of contracts.

The BSC solution by BSS Company includes:

1. Creation and approval of agreements (with payment schedule) in ECC system.
2. Control of payment documents for compliance with details and limits under an agreement and limits against analytic classifier items.
3. Forming cooperation scheme.
4. Receiving grounding documents within payment order under the agreement. Control of presence of grounding documents and clarification of list of grounding documents, if needed.
5. Generation of reports on contract execution.

Therefore, a customer obtains additional control and acceptance of payments, as well as reporting on contract execution.

Besides the advantages of automation of the process of banking support of contract, the bank accumulates significant financial benefits:

  • Expansion of client base due to servicing of the whole chain of state contract executors in one bank.
  • Increase of turnover against accounts.
  • Planning of own liquidity considering planned income within state contracts.
  • An option of cross-selling ancillary products (loans, guarantees for participation in tenders and execution of contracts, etc.)

For more information on solution for banking support of contracts by BSS and purchase conditions please contact BSS Sales Department at: +7 (495) 785-04-94, 785-04-99, or by e-mail: sale@bssys.com

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