Feasibility of Electronic-Only Submissions for Financial Guarantees in the European Theater

The U.S. Army Corps of Engineers (USACE) Europe District (NAU) is seeking input from European theater partners, including contractors, sureties, and financial institutions, on the feasibility of transitioning to electronic-only submissions for financial guarantees, such as bank letters of guarantee, bid bonds, and assurances. The agency is investigating whether digital-only, electronic signatures are feasible in various jurisdictions. The agency is looking for feedback on any "hard" impairments to this digital-only mandate, specifically any national laws, banking regulations, or other formal strictures that strictly prohibit the issuance or enforcement of digital-only bank letters of guarantee, assurance, or bid bond. Key aspects of this opportunity include: • The agency's goal of transitioning from physical, wet-signed documents to electronic-only submissions • The current legal framework, including Class Deviation 2020-O0016, Judicial Precedent, and FAR Case 2021-001, which support the use of electronic signatures • The request for feedback from European theater partners on the feasibility of digital-only submissions in their jurisdictions • The specific questions posed by the agency, including any national laws or banking regulations that prohibit digital-only submissions, and any other helpful information that can be provided.