RESOLUTION OF THE PLENUM OF THE SUPREME ARBITRATION COURT OF THE RUSSIAN FEDERATION

of March 14, 2014 No. 17

About the single questions connected with the agreement of redemption leasing

Due to the questions arising in court practice and for the purpose of ensuring uniformity in the dispute resolution, connected using the legislation on finance lease (leasing), the Plenum of the Supreme Arbitration Court of the Russian Federation based on article 13 of the Federal constitutional Law of 28.04.1995 No. 1-FKZ "About Arbitration Courts in the Russian Federation" decides to give to Arbitration Courts (further - courts) the following explanations:

1. In this resolution the agreement of redemption leasing is understood as the agreement of leasing which according to article 19 of the Federal Law of 29.10.1998 No. 164-FZ "About finance lease (leasing)" (further - the Law on leasing) contains condition about transition of the property right regarding leasing to the leasing recipient in case of introduction of all leasing payments by it, including buyback price if its payment is provided by the agreement.

At the same time the legal line items containing in this resolution are subject to application also to agreements of leasing which contain condition about the right of the leasing recipient to redeem upon termination of effective period of such agreement leasing subject of the price, so smaller, than its market value at the time of the redemption that it is symbolical.

2. Courts need to consider that by the general rule in the agreement of redemption leasing valuable interest of the lessor consists in placement and the subsequent return with profit of money, and valuable interest of the leasing recipient - in acquisition of subject of leasing in property at the expense of the means provided by the lessor and with its assistance. Acquisition by the lessor of the property right regarding leasing serves for it as providing obligations of the leasing recipient on payment of the payments established by the agreement, and also guarantee of the return enclosed.

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