On 5 June 2019, the Presidium of the RF Supreme Court (the "Supreme Court") issued an overview of court practice on independent guarantees (the "Overview").
The Russian Federation Supreme Arbitrazh Court (the "RF VAS") had already issued a similar overview on bank guarantees prior to the Russian civil law reform of 2015, which had introduced the concept of independent guarantees. However, this latest Overview is the first comprehensive summary of court practice on independent guarantees since the concept's introduction into Russian law.
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