The Option Agreement in Russsian Law

In 2015, in the course of civil law reform, the Civil Code of the Russian Federation explicitly fixed the possibility of using option constructions in civil circulation not only as a derivative - an institution of relations in the securities market, but also as a tool for constructing transactions that mediate a number of other economic relations. Now, the option constructions in Russian civil law are regulated in two forms. At the same time, despite the legislative regulation, the legal nature of the institution of an option in Russian law remains uncertain with the existence of both private law and administrative regulation. The aim of the paper is to study the insufficiently developed problems associated with the concept of the construction of options, identifying the right nature of the specified institution. To achieve these goals, it is necessary to solve a number of the following tasks: • study the concept of an option under Russian law in its various meanings; • to study the “basis” of the option – the «secondary” right; • identify the similarities and differences in the construction of options introduced into Russian civil law with the reform of the law of obligations in 2015; • analyze the ratio of optional structures with related: agreements with potestative conditions, a preliminary agreement, a contract with demand execution, a framework agreement; • establish the legal nature of the option as a derivative financial instrument.