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Order of November 5, 2020 No. 2870-r

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Order of November 5, 2020 No. 2870-r

The government has decided to extend the deadline for fulfilling obligations under contracts under which the state subsidizes research and development work (R&D) for Russian manufacturers of industrial products. Penalties will not be applied to the recipients of state support who did not meet the previously allotted deadlines due to circumstances beyond their control. This decision was approved by the Prime Minister Mikhail Mishustin.

The subsidy mechanism is used to stimulate the innovation activity of enterprises. State support is provided for R&D on modern technologies to create competitive industrial products. Applicants for subsidies are selected through a competition, an agreement is concluded with each. If the company does not fulfill the obligations set forth in it, the subsidy is refundable.

This year, given the difficult situation amid the spread of coronavirus, a number of enterprises did not manage to meet the allotted time. The order, which was signed by Mikhail Mishustin, will allow the execution of agreements to be extended for another year if the obligations are not fulfilled due to external circumstances. This rule applies to contracts concluded before March 1, 2020 with an expiration date from March 1 to December 31.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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