How to keep yourself safe from unscrupulous counterparties?

On November 12, the Finance, Safety and Investment Committee met in session. The main topic of the discussion was the counterparty verification.

How to keep your company safe when choosing business partners? What can put the director of the company on guard when entering into an agreement with a counterparty? Florence Pinot, a managing partner of Mazars, and Marina Vasilistova, an analyst of Amarante Vostok, addressed these issues to the participants of the session.

As Marina Vasilistova notes, despite the fact that the current law does not oblige to perform the counterparty verification, the tax authorities and courts take notice of the companies’ diligence when choosing counterparties. During their speech the speakers gave examples of actual court practice and recommendations on verification and conclusion of agreements with counterparties.

Nowadays the counterparty verification procedure has been facilitated significantly due to the availability of special online resources. Florence Pinot cited a list of the primary internet portals containing free information for verification.

The topic of the session sparked off a lively discussion between the Committee members: experts from Sanofi, Renault, Taxcom and Clarins told about the counterparty verification methods of their companies and discussed their effectiveness. As it happens, the companies often use social networks both for external and internal verifications.

The materials of the session are available only to the members of the Franco-Russian Chamber of Commerce and Industry:

New chairpersons of the Committee

At the end of the session new chairpersons and deputy chairpersons of the Committee were elected unanimously. 

Florence PINOT, Managing partner, Mazars

Co-chairperson

Didier BALEDEN, Director General, AMARANTE VOSTOK

Co-chairperson

Sergey KALMYKOV, Head of Security Department, Renault Russia

Deputy Chairperson

Natalya DENISOVA, Head of Tax Division, Sanofi

Deputy Chairperson

Congratulations on their elections and may their work be efficient!