Business Contracts in Russia - Part 3

This article is the last part of the three articles work that handles business contracts in Russia. Its subjects are security means for performance of obligations, including forfeit, pledge, retention of the debtor's property, suretyship, independent guarantee, earnest money or advance, as well as security payment; change and termination of contract, including substitution of parties in obligation and termination of obligations, as well as change and rescission of contract; and liability for breach of contract obligations, including compensation for damages, forfeit as liability form and default interest as well as other coercion means, including implementations of injunction, astreinte, and indemnity. Keywords: Change and rescission of contract; Compensation for damages; Default interest; Forfeit; Security means; Substitution of parties; Termination of obligation