A major reform of Russian contract law will come into effect on 1 June 2015. The reform, which results from Federal Law No. 42-FZ dated 8 March 2015, will introduce significant amendments to Part 1 of the Civil Code of the Russian Federation. Such amendments shall provide more flexibility in contractual matters and make Russian contract law more appealing to the business community.
The present Client Alert gives an overview of the main provisions of the Reform.