05.04.2018

N e w   R u l e s   o n   S u r e t y s h i p s   a n d    
G u a r a n t e e s   G r a n t e d   b y   t h e   S t a t e    
T r e a s u r y  

The amendment introduced on 24 November 2017 to the act on suretyships and guarantees granted by the State Treasury and certain legal entities introduces into the legal system a new model of financing suretyships and guarantees constituting public aid or de minimis aid granted by Bank Gospodarstwa Krajowego (BGK) to micro-entrepreneurs as well as small and medium-sized enterprises. Instead of the de minimis guarantee program renewed by subsequent regulation of the minister in charge of public finance, a system has been created to provide entrepreneurs with permanent and stable access to preferential guarantees, allowing for planning the use of guarantee instruments in a strategic perspective, while maintaining the volume of guarantees at a level similar to the one in previous years. The Act came into force on 1 January 2018.

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