UrBC, Yekaterinburg, January 11, 2016. The Auction House of the Russian Federation (RAD) got its e-trading platform certified for holding government purchase auctions in accordance with Federal Act 44 FZ (On Buying Goods and Services for State and Municipalities’ Needs). The Russian Government’s Decree 2933-r to this effect was signed on December 31, 2016, the organization’s website states.

Under the terms proposed by Russia’s Economic Development Ministry, 44 FZ auctions can be held on electronic platforms that have previously been selected for selling public property in accordance with the Russian Government’s Decree 2488-r dated December 4, 2015.

This means that starting from December 31, 2016, customers acting within the 44 FZ contractual system are allowed to hold electronic auctions at RAD’s Lot-online, among other platforms.