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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

(as amended on 26-02-2021)

The government of the Russian Federation decides:

1. Approve the enclosed Rules of implementation of activities for insurance and providing export loans and investments from entrepreneurial and policy risks.

2. To the Ministry of Finance of the Russian Federation in accordance with the established procedure to introduce to the Government of the Russian Federation drafts of regulatory legal acts concerning provision of the state support when implementing activities for export credits insurance and investments from entrepreneurial and policy risks.

2(1). Determine that the "Russian Export Credits Insurance Agency and Investments" joint-stock company performs according to the procedure of subrogation of the right of the investor in accordance with the terms of agreements on encouragement and protection of the investments concluded by the Government of the Russian Federation, and the Rules approved by this resolution.

Russian Prime Minister

V. Putin

 

Approved by the Order of the Government of the Russian Federation of November 22, 2011 No. 964

Rules of implementation of activities for insurance and providing export loans and investments from entrepreneurial and policy risks

I. General provisions

1. These rules determine procedure "Russian Export Credits Insurance Agency and Investments" joint-stock company (further - society) activities for export credits insurance and investments from entrepreneurial and (or) policy risks, activities for reinsurance, and also for ensuring obligation fulfillment of residents of the Russian Federation and their foreign partners when exporting the Russian goods (works, services, results of intellectual activities) and implementation of investments outside the Russian Federation.

2. According to these rules and without receipt of permission (license) society:

a) performs export credits insurance and investments from entrepreneurial and (or) policy risks of exporters of goods (works, services, results of intellectual activities), the Russian investors performing investments outside the Russian Federation, their foreign partners according to the corresponding transactions, credit institutions, international financial institutions, the state corporation of development "В­Б. Ф" (further - В­Б. Ф), and also other organizations giving financial support to specified persons;

b) performs activities for reinsurance with participation of the Russian insurers, Russian overcautious persons, foreign insurers, foreign overcautious persons and (or) export credit agencies;

c) provides obligation fulfillment of residents of the Russian Federation and their foreign partners when exporting and implementing investments outside the Russian Federation including by issue of independent guarantees, provision of guarantees and application of different ways of ensuring obligation fulfillment concerning the projects having nation-wide, strategic or priority importance for economy of the Russian Federation.

3. For implementation by society of the activities specified in Item 2 of these rules, and (or) ensuring financial stability of society the financial support from В­Б. Ф can be provided and (or) shareholders of society, and also the state support according to the budget legislation of the Russian Federation.

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

"guarantee on strategically significant project" - the bargain concluded by society for the purpose of ensuring obligation fulfillment of residents of the Russian Federation and (or) foreign debtors for support of strategically significant projects by provision of independent guarantees, guarantees or different ways which are not prohibited by the law;

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

"debtor" - the sovereign debtor, the international organization, the foreign legal entity or the Russian legal entity to whom the financial support within the transaction connected with export or which have payment obligations (the obligation of the partner) to the insurer for the delivered goods (the rendered services, the performed works) within the transaction connected with export is provided;

"investments" - the money, securities, other property, including the property rights, other rights having money value, put in objects of business and (or) other activity for the purpose of profit earning and (or) achievement of other useful effect;

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