Kurtz, N. A. The legal nature and regulation of public offerings

Abstract: This paper considers a well-known but not much sought-after institution of Russian contract law – the formation of a contract through a public offering. It presents an analysis of the legal nature and legal regulation of public offers as a type of contract creation. The author establishes differences between concluding contracts through a public offering and doing so via option contracts or competitive tenders. Contracts created by means of public offering are mostly seen in the sale of state and municipal property. Given the efficient use of public offerings in the sale of property and contract creation, the article discusses the possibility of using public offerings as a way to create state and municipal contracts. The author carries out a comprehensive analysis of the possibilities of using this method for the purposes of state and municipal procurement. He concludes that it is possible for public offerings to be used as a method of procurement without the need for a competitive tendering process, and proposes a number of measures to improve legal regulation in this area.

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