ОРГАНИЗАЦИОННИ И СЧЕТОВОДНИ АСПЕКТИ НА БАНКОВАТА ГАРАНЦИЯ КАТО ФОРМА НА ОБЕЗПЕЧЕНИЕ
ORGANIZATIONAL AND ACCOUNTING ASPECTS OF THE BANK GUARANTEE AS A FORM OF SECURITY

Summary/Abstract: The aim of this article is to analyze the essence of the bank guarantee, to reveal and indicate the possibilities for its utilization in the activities of the non-financial corporations. The tasks that have been performed in order to achieve the aim are as follows: 1) Inquiring about prices of the bank guarantees as a specific financial service; 2) Analyzing the financial/bank guarantee contracts as the basis of the relationship between the non-financial corporations-clients under bank guarantee contracts and the bank (credit institution)-guarantor; 3) Analyzing the collateral required as guarantee of loan repayment/ reimbursement by the bank-guarantor as a necessary condition for the conclusion of a financial/bank guarantee contracts; 4) Developing accounting models for financial/bank guarantee contracts in the practice of the non-financial corporations-clients under bank guarantee contracts. The main research thesis is that the bank guarantee is a reliable business tool with increasingly wider utilization in the activity of the non-financial corporations, including its application as a securing instrument for the settlement of accounts receivable and obligations arising from commercial transactions and as a necessary condition required by the law. An important significance for accounting for financial/bank guarantee contracts in non-financial corporations-clients under bank guarantee contracts is the type of collateral provided. The conclusions drawn in the study are that the bank guarantee is a reliable business tool/a securing instrument for the settlement of accounts receivable and obligations arising from commercial transactions, it can serve for: 1) improving the accounting organization, 2) accounting models of financial/bank guarantee contracts according to the type of collateral provided and the accounting policy followed in order to ensure fair representation of information in the annual financial statements of the enterprise.

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