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The RF State Duma Committee on financial market has prepared a Bill which obliges the Russian residents to ensure repayment of the loans they have granted to Russian non-residents.
DATE: January 27, 2016 | AUTHOR: atlawyers
The RF State Duma Committee on financial market has prepared a Bill which obliges the Russian residents to ensure repayment of the loans they have granted to Russian non-residents. When entering into a loan agreement with foreign legal entities or individuals a creditor shall notify its bank on the date when the loan shall be repaid. The Bill provides fines on the Lender for violation of the terms of the loan repayment. Fines will be 1/150 of the RF Central Bank refinancing for each day of delay and 3/4 of the loan amount if the loan will not be repaid at all.