Term of compensation

Time limit*
The date of arising the liability obligation for compensation
within 3 working days
Notification of investors
Guarantee Fund
Publish a notice in daily national newspapers and in the webpage of Fund setting out the term and procedure for payment of compensation
not later than within 45 days
Provide each investor with information regarding his or her investments;
Provide the Fund with information regarding the investors and their investments which are subject to compensation
a member of the management board, trustee in bankruptcy, moratorium administrator or liquidator of an investment institution (trustee)
within 5 months
the right to submit their positions regarding their investments and the value thereof to the trustee
within 5 months
Commencement of compensations 
Guarantee Fund, Credit institution(s) (specified in a resolution of the supervisory board)
Compensation shall be paid in money by a bank transfer to the account indicated by the investor
within 6 months
Completion of compensations
Guarantee Fund, Credit institution
within 18 months
The Fund may extend the terms under extraordinary circumstances and with good reason. A term may be extended by up to three months at a time, but not for more than a total of twelve months.
Guarantee Fund
Up to 5 years
Right of claim
If the Fund fails to pay compensation within the term specified or pays less compensation than prescribed, the investor has the right to file a claim against the Fund.


*Time limits are calculated from the date of arising the liability for compensation