New Developments In Contract Registration - 22.09.2017

The Act No. 340/2015 Coll., on special conditions for the effectiveness of some contracts, the publication of these contracts and the register of contracts (the "Act") has been in effect since 1 July 2016, from which date contracts concluded with certain subjects, such as the state (the Czech Republic), state fund, etc., if the amount of the contract is above CZK 50,000, need to be published in the register of contracts (the "Register").

Since 1 July 2017, contracts to be published under the Act come into effect first on the day of their publication in the Register. If a contract is not published in the Register within three months of its conclusion, it is considered invalid from the outset, as if the contract had never been concluded.