Russia Amends Customs Legislation
Russia has recently amended its Federal Law no. 311-FZ “On customs regulations in the Russian Federation” of November 27, 2010. The new Federal Law No. 73-FZ, adopted on April 6, 2015, will enter into force on May 8, 2015.
The amendments concern the rules for the entrance of protected intellectual property rights into the customs register.
In the previous version of the law, the IP rights were entered into the register if the IP rights holders provided a written liability declaration that they will provide compensation for any damage suffered by the goods’ declarant, owner, recipient or other specified persons due to the unjustified suspension of the goods. However, the rights holders were only entitled, but not obliged, to submit the bank insurance contract covering their liability for any property damage caused to the specified persons.
Under the new rules, the protected IP rights will be entered into the customs register only under the condition that the rights holders submit the bank insurance contract. The sum insured should amount to at least EUR 5,230 (USD 5,620).
Prepared by: Olga Chekanova
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Source: Russian news portal lawyercom.ru
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