ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of April 23, 2022 No. 750

About implementation of activities for import credit insurance from entrepreneurial and (or) policy risks of importers, their foreign partners according to the corresponding transactions, the Russian and foreign credit institutions performing crediting of the corresponding transactions, and other organizations giving financial support to specified persons and also activities for reinsurance

The government of the Russian Federation decides:

1. Approve the enclosed Rules of implementation of activities for import credit insurance from entrepreneurial and (or) policy risks of importers, their foreign partners according to the corresponding transactions, the Russian and foreign credit institutions performing crediting of the corresponding transactions, and other organizations giving financial support to specified persons and also activities for reinsurance.

2. Determine that control of the activities of "Russian Export Credits Insurance Agency and Investments" joint-stock company specified in Item 1 of the Rules approved by this resolution is performed according to the procedure, provided by the Section VI of Rules of implementation of activities for insurance and providing export loans and investments from the entrepreneurial and policy risks approved by the order of the Government of the Russian Federation of November 22, 2011 No. 964 "About procedure of activities for insurance and providing export loans and investments from entrepreneurial and policy risks".

Approved by the Order of the Government of the Russian Federation of April 23, 2022 No. 750

Rules of implementation of activities for import credit insurance from entrepreneurial and (or) policy risks of importers, their foreign partners according to the corresponding transactions, the Russian and foreign credit institutions performing crediting of the corresponding transactions, and other organizations giving financial support to specified persons and also activities for reinsurance

I. General provisions

1. These rules determine procedure of activities for import credit insurance from entrepreneurial and (or) policy risks of importers, their foreign partners by the corresponding transactions, the Russian and foreign credit institutions performing crediting of the corresponding transactions, and other organizations giving financial support to specified persons and also activities for reinsurance.

2. The concepts used in these rules mean the following:

"debt obligation" - the agreement (several agreements connected among themselves) including following from the credit agreement or the loan agreement, the agreement of leasing, release and placement of securities based on which the Russian legal entity, the foreign legal entity or the international organization (creditor) provide money (other property) to the debtor or person specified to them in the amount of and on conditions which are provided by the relevant agreement and the debtor shall return sum of money and pay percent on it and (or) other payments;

"debtor" - the sovereign debtor, the international organization, the foreign legal entity, the Russian legal entity or the individual entrepreneur to whom the financial support within the transaction connected with import or which have payment obligations (the obligation of the partner) to the insurer concerning goods (works, services, results of intellectual activities) within the transaction connected with import is provided;

"foreign goods" - the goods made outside the territory of the Russian Federation including last conversion, installation, assembly, processing, adjustment, repair and (or) recovery;

"the foreign legal entity" - the legal entity registered according to the legislation of foreign state;

"credit institution" - the credit institution created in accordance with the legislation of the Russian Federation or the foreign legal entity who is performing issuance of credits as one of main types of the activities, acting according to the legislation of foreign state, having if it is required, the corresponding permission or the license;

"society" - "Russian Export Credits Insurance Agency and Investments" joint-stock company or the organization realizing functions on insurance support of import according to the decision of the Government of the Russian Federation made according to part 1.1 of article 46.1 of the Federal law "About Bases of State Regulation of Foreign Trade Activity";

"the transactions connected with import" - implemented through the agreement or several interconnected agreements:

the transactions connected with import (realization, use) of foreign goods to the Russian Federation without obligation about the return export;

the transactions connected with performance of works (services) for the Russian legal entities and individual entrepreneurs or for use of result of performance of works or rendering the services in the territory of the Russian Federation performed by the foreign legal entity;

the transactions connected with provision to the Russian legal entity or the individual entrepreneur of results of intellectual activities and the means of individualization of legal entities, goods, works, services equated to them, the intellectual rights to which, including exclusive right, belong to foreign legal entities;

financial support of transactions, the specified in paragraphs eight - the eleventh this Item;

"import credit insurance" - the relations on protection of interests of insurers when implementing the transactions connected with import in case of approach of insured events;

"insurance premium" - payment for insurance which the insurer (beneficiary) shall pay to society according to the procedure and terms which are determined in the insurance contract;

"insurance value" - the amount of losses when implementing the transactions connected with import which the insurer could incur in case of loss occurrence, but no more sum, determined in the insurance contract;

"the sovereign debtor" - foreign state on behalf of the authorized state body which is participant of the relations within the transaction connected with import;

"financial support" - the services rendered by credit institutions, international financial institutions and other legal entities including loan granting and loans (including by acquisition of the securities issued by the Russian and foreign legal entities), guarantees, issue of bank and other guarantees, leasing, financing under concession of monetary claim, implementation of payment under the letter of credit, and also other services and transactions which are intended for financing provision;

"economic capital" - the settlement size of the assets necessary for society for accomplishment of all obligations assumed by society.

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