Significant conditions of concession agreements: what is important to consider when formulation of conditions of long-term obligations of the parties

The author analyzes the practice of arbitration courts on disputes on the execution and modification of concession agreements related to the long-term nature of the obligations of the parties. The influence of external factors on the fulfillment of the obligations of the parties, the specifics of the sectoral regulation of their activities, the grounds that the courts assess as sufficient to change the agreements are considered. It is concluded that judicial practice is casuistic in nature, as courts, assessing the sufficiency of the grounds for amending the agreements, analyze specific circumstances for compliance with statutory criteria for substantially changed circumstances.