On the application of relations according to the term of the surety agreement to pledge agreements

The easiest way to improve the terms of a loan is to provide security for the borrower's financial obligations. One of the popular options for doing this is collateral. Various types of property are used as the latter - both movable and immovable. The more valuable and liquid the collateral, the more favorable the financing terms.

An important part of the transaction is the loan agreement with collateral. The need to draw it up and sign it does not raise any questions, since it protects the rights of both interested parties: both the lender - in terms of debt repayment, and the borrower - in terms of returning the pledged property.

Documentary support of the transaction plays a particularly important role when we are talking about large amounts of lending and corresponding collateral. An example is a loan agreement with real estate as collateral. In such a situation, the amount of financing often reaches several million rubles, which requires an extremely serious attitude to any legal and organizational components of the transaction. And above all - the competent execution of the contract.

Procedure for drawing up a loan agreement with collateral

The basic requirements for the document are contained in Part Two of the Civil Code of the Russian Federation, and specifically in paragraph 1 of Chapter 42 (Articles 807 and 808). A study of legal norms allows us to conclude that a loan agreement with property as collateral is drawn up according to traditional rules.

But the availability of security for the borrower’s financial obligations requires taking into account several characteristic features, the essence of which depends on the type and specificity of the property being pledged.

How to compose it correctly?

The set of main sections of the agreement in question differs little from the usual for such documents. A sample loan agreement with collateral is available here. Let's consider the basic requirements for the content.

A cap

Contains basic document details. These include: name, date and place of compilation, full name (for individuals) or names indicating the responsible persons (for organizations) of the parties.

Subject of the transaction

Key section of the document. Includes the main conditions of cooperation - the loan amount, the financing period indicating the date of issue and repayment, the need to provide security for the borrower’s obligations in the form of collateral.

Procedure for provision and return of funds

This part of the agreement describes the method of providing and repaying the loan. Both cash withdrawal and transfer to a card or account are allowed. It is also recommended to indicate payment dates.

The procedure for registration and removal of collateral from the borrower’s property

Any property of the borrower serves as collateral. If we are talking about ordinary things - clothes, household or computer equipment, etc. – no major deviations from standard contracts are required.

A slightly different situation arises when real estate or a vehicle are used as collateral. For any real estate property - house, apartment, room, land, garage - mandatory registration of the pledge in the Unified State Register of Real Estate is required. Therefore, the implementation of the transaction involves the formation of a set of documents with subsequent submission to Rosreestr. In relation to vehicles, registration documents for the subject of collateral - PTS and STS - must be attached to the loan agreement.

Interest on the use of the loan amount

Current legislation allows the issuance of interest-bearing and interest-free loans. But even if the transaction is free of charge, it is advisable to indicate this in the text of the agreement in the form of a zero interest rate. This will avoid unnecessary ambiguity of interpretation, which may become important when taxing a transaction.

Responsibility of the parties

Standard section. Its task is to encourage the parties to fulfill their obligations. It is especially important when a loan agreement is drawn up with real estate as collateral, since in this case there are certain risks for both the lender and the borrower.

Force Majeure

Situations are listed when one or both parties are unable to fulfill their obligations due to the occurrence of force majeure circumstances. Typically, standard wording for such documents is used. The contents of this section are extremely rarely used in practice.

Dispute Resolution

Here it is necessary to point out that the settlement of disputes occurs within the framework of current Russian legislation. Other options, such as arbitration, are also used very infrequently.

Signatures of the parties

The final section, which contains detailed information about the participants in the transaction. Their list depends on the status of the parties. For an individual, it is necessary to enter the full name, passport details, registration and actual residence address, and contact information into the contract. In relation to organizations, the text includes: name, TIN and other registration data, bank details and contact information.

What else needs to be considered?

The parties have the right to include in the text of the agreement any provisions they consider necessary. But the basic sections of the document are listed above. Particular attention should be paid to describing the key terms of the transaction.

The latter include: amount, terms, interest for the use of borrowed funds, method of issuance and repayment, procedure for providing collateral. The absence of any of the above circumstances calls into question the legality of the document, as well as the status of the entire transaction. Moreover, if a conflict situation arises, it will be much more difficult to prove the legitimacy of the position of the injured party.

On the application of relations according to the term of the surety agreement to pledge agreements

Good afternoon

Probably many banking lawyers have already encountered this point when analyzing the changes that occurred in 2014 in the Civil Code in the chapter “Securing Obligations”. In practice, we have only now encountered this issue. In general, one of the changes was the introduction of the following norm:

Article 335. Pledgor 1. The mortgagor can be either the debtor himself or a third party. In the case where the pledgor is a third party, the rules of Articles 364 - 367 of this Code apply to the relations between the pledgor, debtor and pledgee, unless otherwise provided by law or agreement between the relevant persons .

One of the rules that appears to apply to the third party bail rules is:

Article 367. Termination of surety

6. The guarantee shall be terminated upon the expiration of the period for which it was given specified in the guarantee agreement. If such a period is not established, it is terminated provided that the creditor does not file a claim against the guarantor within a year from the date of the deadline for fulfillment of the obligation secured by the guarantee . When the deadline for fulfillment of the main obligation is not specified and cannot be determined or determined by the moment of demand, the guarantee is terminated if the creditor does not bring a claim against the guarantor within two years from the date of conclusion of the guarantee agreement.

The presentation by the creditor of the debtor of a demand for early fulfillment of the obligation does not shorten the validity period of the guarantee, determined on the basis of the original conditions of the main obligation.

That is, if your collateral agreement states that it is valid until the obligation secured by the collateral is fulfilled, this means that the collateral will terminate after a year from the date of repayment of the loan under the loan agreement.

At the same time, the courts apply the rules in exactly the above manner, and do not apply, for example, a separate rule in Chapter. about the deposit:

Article 352. Termination of a pledge 1. A pledge is terminated: 1) with the termination of the obligation secured by the pledge; ... 10) in other cases provided for by law or agreement.

Judicial practice on this issue speaks of precisely this approach:

ELEVENTH ARBITRATION COURT OF APPEALS DECISION dated February 28, 2021 in case No. A55-14428/2018 …. The arguments of the appeal are that the court, when considering claims for foreclosure on the pledged property, applies the rules governing legal relations in the field of surety, and the pledge is terminated in accordance with Art. 352 of the Civil Code of the Russian Federation, no other grounds for termination of bail are provided for by law, are rejected by the judicial panel. In accordance with paragraph 1 of Art. 335 of the Civil Code of the Russian Federation, the pledgor can be either the debtor himself or a third party. If the mortgagor is a third party, then the relations that develop between the mortgagee, the pledgor and the debtor are similar in legal nature to the legal relations that arise between the creditor, the debtor and the guarantor when securing an obligation with a guarantee.

In accordance with paragraph. 2 p. 1 art. 335 of the Civil Code of the Russian Federation, in the case where the mortgagor is a third party, the rules of Art. Art. 364 - 367 of the Civil Code of the Russian Federation, unless otherwise provided by law or agreement between the relevant persons. According to paragraph 6 of Art. 367 of the Civil Code of the Russian Federation, the guarantee is terminated upon expiration of the period for which it is given specified in the guarantee agreement. If such a period is not established, it is terminated provided that the creditor does not bring a claim against the guarantor within a year from the date of the deadline for fulfillment of the obligation secured by the guarantee. When the deadline for fulfillment of the main obligation is not specified and cannot be determined or determined by the moment of demand, the guarantee is terminated if the creditor does not bring a claim against the guarantor within two years from the date of conclusion of the guarantee agreement. According to the position of the Supreme Court of the Russian Federation, set out in the ruling dated November 10, 2015 N 80-KG15-18, the specified rule of law (clause 6 of Article 367 of the Civil Code of the Russian Federation) does not allow the indefinite existence of the obligation of guarantors in order to establish certainty in the existence of the rights and obligations of participants in a civil turnover. According to the provisions of the guarantee agreements (clause 4.1) and the pledge agreements (clause 5.1), the guarantee and pledge are valid until the obligations secured by this agreement under the loan agreement are fully fulfilled with all amendments and additions. According to the provisions of loan agreements, their validity period is established until the borrower fully fulfills his obligations under this agreement. The above provisions of the contracts do not contain any indication of a date, a period of time calculated in years, months, weeks, days or hours, or an event that must inevitably occur. According to para. 3 clause 34 of the Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation dated July 12, 2012 N 42 “On some issues of resolving disputes related to a guarantee”, the condition of the contract on the validity of the guarantee before the actual fulfillment of the secured obligation cannot be considered as establishing the validity period of the guarantee, since it does not comply with the requirements of Art. . 190 Civil Code of the Russian Federation. In this case, the rule is applied according to which the guarantee is terminated if the creditor does not file a claim against the guarantor within a year from the date of fulfillment of the obligation secured by the guarantee. Thus, the court of first instance came to a reasonable conclusion that the condition on the validity of the agreement until the full fulfillment of the obligations secured by this agreement under the loan agreement with all changes and additions cannot be considered a condition on the period. The deadline for fulfilling the main obligation (repayment of the principal debt) for all loan agreements where the borrower is Union Trans Auto LLC is set no later than November 18, 2021. Thus, the deadline for termination of the above surety and pledge agreements came on November 18, 2021 (according to the last time the agreement was concluded). LLC KB "El Bank" went to court after the expiration of the specified date.

The same approaches can be traced in the Resolutions of the Ninth Arbitration Court of Appeal dated April 5, 2021 N 09AP-6703/2019, dated February 7, 2021 N 09AP-67190/2018, dated September 28, 2021 N 09AP-42543/2017-GK , Resolution of the PRESIDIUM OF THE SUPREME COURT OF THE REPUBLIC OF BASHKORTOSTAN dated February 20, 2021 No. 44g-96/2019, APPEAL DECISION OF THE KURGAN REGIONAL COURT dated September 4, 2021 in case No. 33-2751/2018.

Accordingly, the following questions arise:

1) Do you think these are mistakes of the courts and there is hope that the RF Armed Forces will correct this, or was this initially covered by the authors of the amendments to the Civil Code of the Russian Federation? Those. continuation of the course towards bringing relations closer together regarding guarantees and collateral (for example, in a similar way as in terms of pre-given consents to amend the contract - when for collateral they provided a description of the limits of not only the volume, but also cases of changes, etc.)

2) What is the best way to “get out” of this situation - set the term of the pledge with a “reserve” (for example, + 3 years to the loan repayment period), or write that the rules on guarantee do not apply to the pledge agreement (after all, Article 335 of the Civil Code allows establish otherwise by contract) - although it is not clear how the courts will react to this (for example, from the point of view of the Plenum of the Supreme Arbitration Court No. 16 “On freedom of contract and its limits”)? Or is it better to wait for the position of the RF Armed Forces on this issue?

At the moment, I do not think it is correct to use surety relationships in this case. Still, a pledge is more of a property relationship, and not an obligation “in its pure form” as in a guarantee - in a guarantee, after the expiration of the term, the creditor loses the right not to make claims against the guarantor (since these are claims in relation to a predetermined list of property, respectively the absence of a clear term gives rise to a certain “skew” of relations towards the Creditor), and the right to claim a specific thing in the pledge ceases. There must be different regulation. Moreover, it is not directly stated that this is how the term of the pledge is determined. At the same time, there is a direct rule on the pledge, which states that it terminates with the termination of the main obligation. I don’t think it’s faith in this situation to “pull” something else, through the specified references in the law. At the same time, “other cases provided for by the agreement” are spoken of as in Art. 335 of the Civil Code and in Art. 352 Civil Code, i.e. these exceptions can be applied both in one direction and in the other (as in saying that an exception to Article 335 of the Civil Code is Article 352 of the Civil Code, and vice versa.

Also, most likely, all banks will everywhere begin to indicate in collateral agreements a clause on the non-use of surety relationships in a given collateral agreement - in this case, nothing fundamental will change in this matter, because if the legislator initially wanted to achieve the goal of establishing a clear term for the pledge agreement by analogy with a surety, then this most likely will not happen. Then the question is: why was it necessary to change the position?

Answers to readers' questions

What are the requirements for a secured loan agreement?

The document is subject to a standard set of requirements. The main two of them are written form, as well as the mandatory indication of all the necessary details and terms of the transaction.

What are the advantages of secured loans?

The benefits of this method of financing are obvious to both parties. The lender reduces its own risks, as it receives liquid and valuable collateral. The borrower has the opportunity to receive loans on significantly more favorable terms - at a low interest rate, for a larger amount and for a period.

What types of property are most often used to secure the borrower's financial obligations?

The most popular collateral options are real estate and vehicles. This is explained by the serious cost and liquidity of these types of property.

Commentary on Article 339 of the Civil Code of the Russian Federation

1. Paragraph 1 of the commented article established the essential terms of the pledge agreement, which include the subject of the pledge, its monetary value, the essence of the obligation, the content, volume and timing of the main obligation secured by the pledge. The contract must indicate the location of the property and indicate who owns the property. The Resolution of the Plenums of the Supreme Court of the Russian Federation and the Supreme Arbitration Court of the Russian Federation No. 6/8 states that if the parties do not reach an agreement on at least one of the above conditions or the corresponding condition is absent in the agreement, the pledge agreement cannot be considered concluded.

Special requirements are established for pledging real estate. Yes, Art. 9 of the Mortgage Law establishes that the agreement must indicate, in addition to the subject of the mortgage, its valuation, the essence of the obligation, the size and deadline for fulfilling the obligation, also the location of the property and an identification description. In addition, the right by virtue of which the property that is the subject of the mortgage belongs to the mortgagor, and the name of the state registration body of rights to real estate that registered the mortgagor's right, must be recorded. If the subject of the mortgage is a leasehold right, the leased property and the lease term must be indicated.

The assessment of real estate that is the subject of a mortgage is carried out by agreement of the parties in compliance with the requirements of Art. 67 of the Law. The parties are given the right to entrust the assessment of the subject of mortgage to a professional organization in accordance with Federal Law of July 29, 1998 N 135-FZ “On Valuation Activities in the Russian Federation” (as amended on January 5, 2006) <1>. If the amount of the obligation secured by the mortgage is subject to determination in the future, the mortgage agreement must indicate the procedure and other conditions for its determination. If the main obligation involves its fulfillment in parts, the mortgage secured by it must indicate the terms (frequency) of payments and their amount. If the rights of the mortgagee are certified by the mortgage, the mortgage is accordingly recorded in the mortgage agreement.

——————————— <1> NW RF. 1998. N 31. Art. 3813; 2002. N 4. Art. 251; N 12. Art. 1093; N 46. Art. 4537; 2003. N 2. Art. 167; N 9. Art. 805; 2004. N 35. Art. 3607; 2006. N 2. Art. 172.

2. Paragraph 2 of the commented article establishes a mandatory written form for the pledge agreement and a qualified form for the mortgage agreement. An agreement on the pledge of movable property or rights to property is subject to mandatory notarization. A notarial form for a mortgage agreement is not sufficient; it also requires mandatory state registration. Accordingly, failure to comply with the form of the pledge agreement entails its invalidity.

Paragraph 3 of the commented article touches on one of the central problems, namely the publicity of the pledge. This means that the existence of a collateral relationship should, in principle, be obvious to others. In cases where the subject of the pledge is transferred to the pledgee, the publicity of the pledge is ensured by the fact that it is in the possession of the latter. When the collateral remains with the pledgor, registration is the means of publicity. In accordance with the Law on Registration of Rights to Real Estate, registration of any real estate and transactions with it is provided. A mortgage is subject to state registration by justice institutions in the Unified Registration Register of Rights to Real Estate, at the location of the property that is the subject of the mortgage.

Paragraph 3 of the commented article does not mention movable property. The issue of registration of movable property is regulated by special acts. Thus, in accordance with the Decree of the Government of the Russian Federation dated 08/12/1994 N 938 “On state registration of motor vehicles and other types of self-propelled equipment on the territory of the Russian Federation” (as amended on 08/12/2004) <1> the pledge of motor vehicles is subject to mandatory registration with the authorities automobile inspection of the Ministry of Internal Affairs of Russia.

——————————— <1> NW RF. 1994. N 17. Art. 1999; 1998. N 32. Art. 3910; 2002. N 9. Art. 930; 2003. N 20. Art. 1899; 2004. N 33. Art. 3495.

3. The pledge is considered registered from the moment information about it is entered into the appropriate register and the corresponding number is assigned. The mortgage agreement is considered concluded and comes into force from the moment of its state registration.

Pledge of exclusive rights: why register, what risks are there and how to minimize them

RB.ru

Medvedev Sergey Valerievich

Partner, Patent Attorney of the Russian Federation, Ph.D., LL.M. Head of the legal department

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Over the past five to seven years, the number of transactions related to the pledge of intellectual property rights has doubled. In 2020, according to Rospatent, 140 such transactions were registered, which is quite a lot in a “dead” transaction year due to the pandemic. There will be even more of them in the future, in my opinion.

What types of pledges exist, is it necessary to register pledges of exclusive rights, is it possible to limit the rights of the pledgor under the contract, what risks are there and how to minimize them, let’s look at it in order.

Pledge of intellectual property rights and what can be pledged

A pledge of intellectual property rights is, in essence, “blocking” an object of intellectual property (including in terms of its disposal) for a certain pledge period and granting a preemptive right to its acquisition by the creditor (or sale to a third party) if the debtor (usually , copyright holder) will not fulfill its obligations to repay the loan.

Obviously, when a bank gives the copyright holder money, for example, for business development, it must hedge its bets and demand something in return if the copyright holder’s obligations under the loan are not fulfilled.

A pledge of intellectual property rights is just such a guarantee, that is, a way to ensure the fulfillment of the debtor’s obligation, and on the other hand, a form of disposal of the exclusive right to an object of intellectual property.

Thus, the transaction between the copyright holder and the bank will consist of two main types of agreements: a loan agreement and an agreement on the pledge of an exclusive right. Both documents must be in writing. In some cases, a pledge of an exclusive right must be registered with Rospatent.

Our firm’s team recently supported an interesting security transaction involving financing from a large American fund in the Russian area. Another well-known brand (name not disclosed) of electronic cigarettes from the USA needed money to develop business in Russia.

The scope of the transaction included about 100 objects of intellectual property that were granted legal protection in Russia, including trademarks, domain names, inventions, utility models, industrial designs, Eurasian patents and other intellectual property objects.

We conducted a legal review of all pledged objects of intellectual property (legal title), prepared the relevant documents for the transaction, in particular, an agreement for the pledge of exclusive rights to trademarks and objects of patent law, to create a series of pledges under Russian law, ensuring the fulfillment of various obligations under the loan agreement . The cost of all pledged exclusive rights is not disclosed.

On the “shore” of the transaction, the parties need to take into account that not all intellectual property (IPR), as well as not all corresponding rights, are subject to pledge according to the law.

In practice, by the way, copyright (exclusive) rights to musical works, audiovisual works, works of design, computer programs, as well as rights to trademarks and industrial designs are most often pledged.

Due to the specific legal nature and possible problems when foreclosure on pledged rights, subsequently objects of patent law, such as inventions and utility models, as well as production secrets (know-how), are not in “collateral demand” in financial transactions.

Why does a bank need a pledge of intellectual property rights?

Obviously, banks first need money. Banks are interested in collateral when it will be possible to foreclose on the entire business as a whole, all property and property rights of the debtor, in the event of failure to fulfill loan obligations. A bank is of little interest in pledging exclusive rights belonging to a startup or an aspiring market player.

It’s another matter when the company is a manufacturing company or has a large volume of tangible and intangible assets in its portfolio. In case of non-payment of the debt, the bank can foreclose on real estate, securities, equipment, goods in circulation, as well as intellectual property rights owned by such a company.

Thus, from the point of view of structuring collateral, intellectual property may be of interest to banks precisely in conjunction with other objects, and not in isolation from them.

As a rule, manufacturing and technology companies, pharmaceutical companies, oil and gas companies, large IT developers and telecommunications companies have the widest base of tangible and intangible assets.

What types of collateral exist?

It is not at all necessary to pledge the exclusive right in full. And it is not at all necessary to mortgage the IPOs themselves. There are various schemes and types of collateral, in particular:

• pledge of an exclusive right (“classical pledge”);
• pledge of the right to use intellectual property (“pledge of the right to a license”);
• pledge of rights of claim to income from the use of intellectual property (“pledge of rights to royalties”);
• pledge of obligatory rights (“pledge of licensee’s rights”);
• pledge of sub-sublicensing rights, which, for example, was used by the Russian partner of the American fast food chain JOHNNY ROCKETS, JR Management, in 2013. the rights to use the Johnny Rockets brand in Russia under a sub-sublicense agreement due to certain financial problems, Kommersant wrote with reference to Rospatent records (trademarks according to state registrations Nos. 312674, 304004);
• pledge of rights that the pledgor will acquire in the future (“pledge of future rights”).

All these types of collateral relations have their own characteristics and specifics, and their conditions must be reflected in the corresponding collateral agreement. A pledge by force of law is not applicable in the field of intellectual property. As noted above, it arises on the basis of a contract (written agreement of the parties).

By the way, only a “classic pledge” is registered with Rospatent, when an exclusive right is pledged in full and only in relation to a registered IP (for example, objects of patent law, trademarks). The registration period is usually about two months, unless a request (notification) is issued from Rospatent. The cost depends on the subject of the pledge, the number of IPs and the fees of patent attorneys and lawyers servicing the transaction.

Is it possible to limit the rights of the pledgor under the pledge agreement?

Restrictions on the rights of the pledgor are permissible and are also prescribed in the pledge agreement. As a rule, during the term of the agreement, the pledgor has the right, without the consent of the pledgee, to use the pledged intellectual property in civil circulation, which “spurs up” the cost of the exclusive right.

As for the possibility of disposing of the right, as a rule, the pledgor is deprived of it without the consent of the pledgee. The pledgee must control the process of disposal of the pledged right.

Moreover, the alienation of exclusive rights that are pledged is prohibited by law and by default. This is understandable: if the copyright holder transfers the exclusive right to a third party during the pledge period, then the subject of the agreement “disappears” and the loan becomes unsecured. Rospatent, by the way, will not register the alienation of rights without the consent of the creditor and during the period of pledge, if such consent is provided for in the agreement.

What are the risks and problems when pledging intellectual property rights?

According to our practice, when a transaction has already taken place or during the foreclosure procedure (realization) of the pledged right, the bank may encounter the following problems:

1. Difficulties in realizing pledged rights during foreclosure.

In particular, if the lender decides to sell the collateral at auction, he will need to find a buyer. But this is not so easy to do if, for example, a creditor forecloses on the pledged exclusive rights in isolation from other property and property rights.

2. Depreciation of the collateral.

From an economic point of view, the value of the pledged right, for example, to an invention or utility model, decreases along with the appearance on the market of new, improved, patented technologies and objects of patent law. This is especially clearly reflected in the IT sector and related industries.

3. Impossibility of realizing the pledged rights to trademarks with similar designations or in relation to similar goods (services).

It is important to remember that Rospatent may refuse to register the transfer of rights to a trademark if it is part of a series of trademarks, some of which remain unpossessed by the copyright holder. When refusing state registration, Rospatent may refer to possible misleading of consumers.

By the way, a similar situation can occur if the copyright holder has a business name that is confusingly similar to the pledged trademark, or the right to a trademark is partially pledged (that is, in relation to similar goods or services that remain with the copyright holder).

4. Loss of the collateral.

For example, a waiver by the copyright holder of the right to a trademark or disclosure of confidential information constituting the subject of know-how. In these cases, the collateral is lost and the loan transaction becomes unsecured. In such a situation, the bank is not insured against non-fulfillment of loan obligations by the debtor.

5. “Opacity” of the subject of collateral and the collateral transaction.

We are talking about copyright or related rights that can be pledged and pledged, for example, twice “in return” for two loans issued by two different banks, bypassing all the conditions and rules on subsequent pledge provided by law.

Obviously, the second bank will no longer be satisfied with the value of the pledged (exclusive) right in preference to the first bank even in the event of failure to fulfill loan obligations by the copyright holder, since the first bank can exercise its (preemptive) right by this moment and keep the pledged item for itself or transfer it to a third party. Accordingly, for the second bank such a pledge simply does not make sense initially, since it is not realizable.

Some of the risks described above can be minimized through appropriate obligations (conditions), which should be immediately written down in the contract. Meanwhile, some issues remain unresolved in principle, so it is better to refuse to structure a financial transaction through the pledge of relevant intellectual property rights or to secure such a transaction in another way. Therefore, it is necessary to assess risks and structure the transaction in each specific situation.

In this regard, it is recommended that finance lawyers, IP lawyers and patent attorneys work together as a team to provide clear advice to the business/bank/management on how to effectively secure a loan transaction.

For the future

Despite possible risks and problems, there is a demand for loans secured by intellectual property rights. As follows from the annual report of Rospatent for 2021, the number of such transactions is growing every year.

Due to the crisis due to the pandemic and certain economic difficulties, this security instrument will soon become more popular when making credit transactions.

Intellectual property is a very important, competitive and economically attractive intangible asset, among other property and property rights of companies. Banks are and will be paying closer attention to it in the future.

Let us recall that in March of this year, the Ministry of Economic Development proposed to the Central Bank to increase the “status” of OIS for banks and credit organizations. Today, such objects are classified by the Central Bank of the Russian Federation as “low quality” assets with high credit risks. Now they are proposed to be classified as collateral of the second quality category, which assumes moderate credit risk and a low probability of financial losses for the bank.