• Legislative Basis
• CCG's Code of Ethics

Legislative basis for CCG

Credit Collection Group Ltd in its activity is guided by legislative rules of the Russian Federation:

• Chapter 24 «The Substitution of Responsible Persons»;
• Chapter 30 «Purchase and Sales»;
• Chapter 39 « Rendering of Commercial Services»;
• Chapter 42 «Loans and Credits»;
• Chapter 49 «Commission»;
• Chapter 52 «Agency Services».

EXCERPTS FROM THE CIVIL CODE OF THE RUSSIAN FEDERATION:

Article 309. General Provisions

Obligations should be fulfilled properly in accordance with the terms and conditions of the obligations binding, claims of the law and other legal acts. In the absence of such terms and claims the obligations should be fulfilled in accordance with business customs or other standard claims.

Article 319. Order of Repayment of the Bill of Debt

A sum of effected payment is insufficient for repayment of bill of debt in full, in the absence of another agreement primarily repays the costs of the creditor concerning the obtaining of execution, then repays the interest and in the end he repays the principal amount of debt.

Unless otherwise stipulated by the law or by the contract, the right of the original Creditor shall be passed to the new Creditor in the amount and on the terms, which have existed at the moment of transfer of rights. In particular, to the new creditor shall pass the rights, guaranteeing the discharge of the obligations, and also the other rights, involved in the claim, including the right to the unpaid interest.

Article 393. The Debtor's Obligation to Recompense the Losses

The Debtor shall be obliged to recompense the losses, caused to the Creditor by non-discharge or an improper discharge of its obligations.

Unless otherwise stipulated by the law, by the other legal acts or by the agreement, when defining the losses, the prices shall be taken into account, which existed in the place, where the obligation should have been discharged, on the date of the debtor's voluntary satisfaction of the creditor's claims, and if the claim has not been voluntarily satisfied - on the date of its presentation. Proceeding from the circumstances, the court may satisfy the claim for the compensation of the losses, taking into account the prices, which existed on the day of its adopting the decision.

When defining the lost profit, the measures, taken by the creditor to derive it, and the preparations, made for the same purpose, shall be considered.

Article 394. The Losses and the Forfeit

If for the non-discharge or an improper discharge of the obligation the forfeit has been ruled, the losses shall be recompensed in the part, which has not been covered by the forfeit.

Article 395. Responsibility for the Non-Discharge of the Pecuniary Obligation

For the use of the other person's money as a result of its illegal retention, of the avoidance of its return or of another kind of delay in its payment, or as a result of its groundless receipt or saving at the expense of the other person, the interest on the total amount of these means shall be due. The interest rate shall be defined by the discount rate of the bank interest, existing by the date of the discharge of the pecuniary obligation or of the corresponding part thereof at the place of the creditor's residence, and if the creditor is a legal entity - at the place of its location. If the debt is exacted through the court, the court may satisfy the creditor's claim, proceeding from the discount rate of the bank interest on the date of filing the claim or on the date of its adopting the decision. These rules shall be applied, unless the other interest rate has been fixed by the law or by the agreement.

Article 405. Delay in payment of the Debtor

The Debtor who delayed fulfillment of its obligations is responsible to the Creditor for losses caused by the delay, and for the consequences accidentally arising out of impossibility to discharge its obligations due to delay.

Article 1005. Agency Agreement

Under an agency Agreement one party (the Agent) undertakes to perform on a commercial basis by order of another party (the Principal) legal and other actions on his behalf, but at the expense of the Principal or on behalf and at the expense of the Principal.