The amendments are made to the Rules of granting of state guaranties of the Russian Federation in foreign currency for rendering state support
The Decree of the RF Government N 953 of December 15, 2008
(document is in Russian) makes amendments to
the Rules approved by
the Decree of the RF Government N 803 of November 1, 2008
(document is in Russian), according to which in particular
there is approved that at arising of guarantee event, before
rising of a demand to the Russian Federation represented by
the RF Ministry of Finance about execution of obligations on
state guarantee, a creditor must to rise a demand to an agent
bank about execution of its obligations before expiration of
period of validity of the state guarantee. If during 30 days
from the day of rising of aforesaid demand, an agent bank has
not satisfied it, a creditor has the right to rise a demand
about execution of its obligations to the Russian Federation
represented by the RF Ministry of Finance before expiration
of 150 days from the day of not execution by an agent bank of
its obligations.
