OREANDA-NEWS. March 31, 2008. Governed by Part 3 Article 35 of the Federal Law "On Protection of Competition", the Federal Antimonopoly Service (FAS Russia) concluded that the draft Co-operation Agreement between the "Agroimpuls" Commercial Bank OJSC and "SRG - Otsenka" complies with the antimonopoly legislation, reported the press-centre of FAS Russia.

The Agreement became one of the first documents successfully notified by the antimonopoly authority.

The Agreement regulates the operating procedures of the bank and an appraiser in terms of their co-operation on the mortgage-crediting programme. Under the Agreement, SRG - Otsenka" shall offer to he bank borrowers, approaching an appraiser, an independent appraisal of the market and liquidating value of the property, used as a collateral security for credit agreements obligations between the bank and the borrowers.

Arriving to its decision, FAS Russia took into account information that the "Agroimpuls" Commercial Bank OJSC does not restrict the right of their clients (borrowers) to enter into the property appraisal agreements for with any appraisers, operating in the Russian Federation. At the same time, agreements between the borrowers and the bank do not contain any provisions restricting the above rights of the borrowers.

The Federal Antimonopoly Service emphasizes that a decision of an antimonopoly body on compliance of a written draft agreement with he antimonopoly legislation ceases to be effective, if such an agreement has not been reached within a year after the decision was passed.