Requirements to concessioner with reference to banks and insurance organizations approved
By
the Decree of the Government of the Russian Federation N 495
of 15 June 2009 (document is in Russian), requirements are
established to concessioners with reference to banks giving
irrevocable guarantees, banks where concessioners may open a
deposit account with pledgeable rightds, and with reference
to insurance organizations with which the concessioner may make
a contract of insurance against risks of reponsibility for breaking
their obligations. In particular, banks and insurance organizations
must possess particular licenses, absolutely positive auditor
reports for the passed year, their period of activity being
not less than 3 years. Besides, it is established for insurance
organizations that the act5ual size of the creditability marginshould
exceed its standard size by not less than 30% as of the last
accounting date.
Amendments have been made to the Acts of the Government of the Russian Federation on regulation of foreign trade activity with respect to particular types of products
