Law N 223-FL: the independent guarantee can be ensuring performance of the contract
29 October 2015, Thursday
The participant has the right to use such way of ensuring performance of the contract and demand if it is provided in the provision on purchase and documentation.
Changes according to which the independent guarantee since June 1 became one more way of providing performance of obligations were made to the Civil Code of the Russian Federation. This guarantee is similar bank, however is wider according to the contents and can be given out by any commercial organization.
Document: Letter of the Ministry of Economic Development of the Russian Federation of 05.08.2015 N D28i-2345
http://www.consultant.ru/law/review/fed/fks2015-10-16.html
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