Payment of fines under the Law 44-FL

4 February 2014, Tuesday
In Part 7, Art. 34 of the Law about Contract System indicated that the charge of fines for each day of delay in execution of the supplier (contractor, executor) the obligation under the contract shall commence on the day following the day of expiry of the contract period. Payment of fines is determined by the Russian Federation Government Decree of 25.11.2013, the number 1063, but not less than 1/300 of the current at the date of payment of interest rate of the Central Bank of the Russian Federation of the contract price, reduced by an amount proportionate to the volume of obligations under the contract and the actual execution of the supplier (contractor, executor).
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