Options, Representations, Indemnities, and Other Innovations in Russian Contract Law

26 March 2015
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Key takeaways

  • Russian law and the Russian courts have for many years taken a hostile or equivocal approach towards the inclusion in Russian contracts of representations, indemnities, option agreements, conditions precedent and other instruments often used in international business deals.
  • Many of these issues may be resolved by a new bundle of amendments to the Civil Code, which take effect from June 1, 2015 and should significantly upgrade Russian contract law.