OREANDA-NEWS. August 03, 2011. The Federal Antimonopoly Service (FAS Russia) would like to explain amendments to the determination issued to the enterprises of the group of persons of “United Company RUSAL Limited” on 28th April 2011, reported the press-centre of FAS Russia.

These amendments are applicable to all contracts and additional agreements to the contracts concluded by “United Company RUSAL Limited”, Russian companies and other economic entities – members of the group of persons of “United Company RUSAL Limited” (as well as their legal successors).

The amended text of the determination should be interpreted as follows: the quotation period used to set prices can be from one to thirty consecutive calendar days within the two months preceding a delivery as well as the delivery month.

A quotation period shall be determined at the time of signing a contract and / or specification with a buyer for goods supply and shall allow both the supplier and the buyer to clearly determine the final price on the day of shipment based on LME quotations for the chosen quotation period, as well as give the supplier a possibility to provide invoices and other accounting documentation for the buyer within the period specified by the law of the Russian Federation.

Choosing a quotation period that includes the dates after the goods are shipped make it impossible to determine the final price in the time of shipment and can only take place upon a mutual agreement between the parties. Choosing a particular quotation period should not hamper compliance with the tax legislation of the Russian Federation.

Imposing by “United Company RUSAL – Trading House” OJSC a quotation period that does not allow to clearly determine the price of the goods on the date of shipment is a wrong interpretation of the amendments to the determination, which came into force on 14th February 2007.

If “United Company RUSAL – Trading House” OJSC and / or economic entities members of the same group of persons with “United Company RUSAL – Trading House” OJSC fail to execute the FAS Russia’s determination of 14th February 2007, as well as “United Company RUSAL – Trading House” OJSC and / or economic entities members of the same group of persons with “United Company RUSAL – Trading House” OJSC violate the antimonopoly law, all interested persons can file complaints to FAS Russia.