Sureties and guarantees granted by the State Treasury – financial and legal problems

Abstract

The article discusses the institutions of sureties and guarantees of the Treasury resulting to the obligations related from the issuance of bonds, indicating the grounds for substantive of these institutions, rules for granting the above-mentioned sureties and guarantees and objectives to achieve. A significant part of the study was devoted to discussion of the information concerning the practical application of these institutions. The author concludes that guarantees and sureties granted by the Treasury are an important and practical instrument of public finances, which are used to the economic development of the state. The main areas supported by these legal solutions are focused around the development and maintenance of infrastructure. It must be said that these institutions must not be misused in the Polish legal system, because they can cause an increase in public debt and undermine the credibility of the state.

Keywords

• bonds
• sureties and guarantees of the Treasury