Indemnity under the Russian law: practical notes

When making a contract there is always a risk that something will go wrong and cause loses to one of the parties. The Anglo-American law provides at least 2 methods to distribute such risks: warranties and indemnities. Among other alterations made in the Russian Civil Code in 2015 was a new Clause 406.1 on indemnification of losses which is very similar to its Anglo-American prototype – indemnity. In this article, we tried to summarize if Russian law borrowed this concept in full.
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