Council of Federation approves bill simplifying vessel mortgage
![](/img/en_news_image.jpg)
The Council of the Federation has approved the bill simplifying vessel mortgage. The Bill on introduction of amendments into Article 24 of the Code of inland water transport excludes the requirement of obligatory notarial certification of the vessel mortgage contract.
The document brings the Code into conformity with the Law on Mortgage thus simplifying the procedure, cutting temporary and material expenses of the contract parties which is to facilitate the development of the market of credit services.