Underwriting arrangementsTypes of arrangement
What types of underwriting arrangements are commonly used?
Russian legislation does not specifically regulate underwriting. Usually parties use a particular type of underwriting arrangement, which is more satisfy international standards used in business practice. Commonly underwriting agreements are governed by a foreign law.Typical provisions
What does the underwriting agreement typically provide with respect to indemnity, force majeure clauses, success fees and overallotment options?
Underwriting in Russia is based on international and banking standards. Hence, standard provisions of underwriting agreements in respect of damages, force majeure, success fee, etc.,, conform to practices commonly used in Europe and other jurisdictions.Other regulations
What additional regulations apply to underwriting arrangements?
When underwriting agreements are governed by a foreign law, specific Russian rules are not applicable.
At the same time under Russian conflict of law rules Russian public imperative rules prevailsover contractual rules in cross-border transactions. However, the Russian rules in respect of damages, force majeure, success fee, etc, all conform to general international practices.