The principle of good faith as an element of the legal mechanism for stimulating the debtor to proper execution of obligations and guaranteeing creditors' interests: analysis of judicial and arbitration practice

Introduction: from June 1, 2015 came into force the Federal Law of the Russian Federation dated 8 March 2015, No. 42-FZ (hereinafter - Law № 42-FZ) «On Amendments to Part One of the Civil Code of the Russian Federation}}, providing a number of innovations in legal regulation of contractual relations. Purpose: to address the problem, important for the development of Russian civil law, connected with revealing the principle of good faith as an element of legal mechanism for stimulating the debtor to proper execution of obligations and guaranteeing interests of creditors on the basis of the latest court and arbitration practice analysis. Methods: the following methods were used in the course of research: a general scientific dialectic method, universal scientific methods (analysis and synthesis, induction and deduction, comparison, abstraction, formal logical, systemic-structural), methods specific to legal science (a comparative legal method, systemic interpretation, a method of legal modeling). Results: a number of fundamental questions concerning optional obligations have not received proper authorization in the civil law doctrine. Main vectors for further development of good faith principles in legislation and law enforcement activity have been specified. Conclusions: the criteria of good faith of contractual law participants and their correct practical application will certainly promote to the establishment of optimal balance of the creditors' and debtor's interests, which is an essential guarantee for the maintenance of business cooperation, as well as for prevention of legal conflicts. It will also help to satisfy interests of property turnover participants. The principle of good faith needs further implementation into the special norms of the Civil Code since it is one of the essential guarantees for the realization of subjective civil rights.