Minister Vahan Kerobyan met with representatives of various banks to discuss the draft law "On Amendments to the Civil Code of the Republic of Armenia."
With this project developed by the Ministry of Economy, it is proposed to replace the transfer to the particular account of the developer with the opening mechanism of the letter of credit.
The minister introduced the need for this change, noting that the proposals presented by specialists will also be considered.
The participants of the meeting presented their position on using the documentary letter of credit, taking into account the existing problems and banking risks in the construction field.
