"The Chechen government is open to any attempt to bring peace to our people," a spokesman quoted pro-Moscow Chechen President Alu Alkhanov as saying.
"But as regards Maskhadov and Basayev, they have never fulfilled the responsibilities they have adopted. This is just another attempt to draw attention to themselves."
Kremlin officials did not comment, and the General Prosecutor rapidly announced new criminal charges against the two men. Russian President Vladimir Putin has consistently rejected the idea of talks with people he calls terrorists.
But analysts said he might be more open to peace overtures after fierce battles in three regions outside Chechnya in the last month.
These have graphically shown how brittle Russian control has become in the 10 years since the start of a war that has killed 20,000 Russian troops and tens of thousands of civilians.
"There are people around Putin who are suggesting it is time to end the Chechen war," said Alexei Malashenko, a security analyst from the Carnegie Centre.
"Maskhadov and Basayev could see this is a favourable time for such an approach."
Maskhadov, who led Chechnya during a three-year truce period until 1999, has frequently appealed for talks, but Moscow has insisted he has little control over rebel forces.
The latest offer appeared more significant as it also carried the name of Basayev, Russia's most wanted man.
Basayev ordered most of the bloodiest rebel attacks, including the hostage-taking in Beslan in which more than 330 civilians, half of them children, died.
"This is a demonstration of good will and an invitation to the Russian side to end this war at the negotiating table," said a statement on Maskhadov's Web site, www.chechenpress.info.
"By this step the president has shown the world that the Chechen Republic's armed forces are not dispersed groups, as Moscow wants to depict us, but following the orders of a supreme commander ... Only a strong force could take such a step."
But Ilya Shabalkin, spokesman for the Russian forces in the North Caucasus, said he had noticed no change in the level of rebel attacks since the cease-fire was ordered.
"They are continuing their crimes every day, this is just an attempt to fool people in the West," he said.
The cease-fire came almost simultaneously with an announcement that British television would air an interview with Basayev - leading to fresh Russian anger against what it says are Western "double standards" in the war against terrorism. "We see such an action as another step in the information support given to terrorists acting in the North Caucasus," said a Russian Foreign Ministry statement.
A second statement from Basayev said the cease-fire would last until February 22, the eve of the anniversary of the Soviet-era deportation of the Chechen people to Central Asia in 1944, traditionally a day of mourning and anger in Chechnya.