On the 2nd of November, 2014 will be operational procedure for keeping an updated register of bank guarantees.

Changes made to the Order of the Russian Ministry of Finance 18.12.2013 N 126n, materially affects the operation of the information order for keeping the register of bank guarantees. They aim to bring this procedure in line with the amended Federal Law of 04.06.2014 N 140-FL in the Federal Law of 05.04.2013 N 44-FL.

In particular, the Order of the Ministry of Finance of 28.08.2014 N 85n provides the following new features:

- Named in the registry instead of signed contract copies of the bank guarantee will include a copy of the bank guarantee;

- The formation of information about the validity of the bank guarantee will be the date (order) of its entry into force.

We remind you that the rules for inclusion in the contract terms for the bank began to act accompanied with 01.07.2014. Cases mandatory inclusion of this provision in the contract established Rules of banking support contracts approved by RF Government Decree of 20.09.2014 N 963.