Russia amends its law on the contract system in procurement

| By | Drug Procurement
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Russian President Vladimir Putin signed the Federal Law “On Amending Articles 30 and 34 of the Federal Law On Contract System in Procurement of Goods, Works and Services for Government or Municipal Needs.”

The Federal Law “On Contract System in Procurement of Goods, Works and Services for Government or Municipal Needs” stipulates that one of the mandatory terms of the contract shall be the period of payment for delivered goods, performed works, provided services.

At the same time, this Federal Law establishes the requirements for specific period of payment only for the contracts concluded with the small business entities and socially-oriented organizations. This period should not exceed 30 days after the signing of the document on acceptance of contract performance by the customer.

The Federal Law establishes the deadline for payment of obligations fulfilled under all contracts (no more than 30 days after the signing of acceptance document by the customer), unless other period of payment is established by the Government of the Russian Federation to ensure the defense capability and security of the state.