YEREVAN, January 14. /ARKA/. Owners of motor vehicles, who have not signed a mandatory car insurance agreement in time, may be fined 5,000 drams for each 10 days of delay, the press office of Car Insurers’ Bureau of Armenia reports.

Under the amendments to the mandatory car insurance law and the Code of administrative offences, car owners will have to pay penalties if they do not sign the insurance agreement within 10 days as from January 1st 2014.

The Car Insurers’ Bureau recommends drivers to sign the agreement at least 10 days before the expiry of the previous agreement to avoid both penalties and queues in insurance companies, according to the report.

According to the amendments to the mandatory car insurance law, as from January 1 2014 no coupons will be provided anymore in signing the agreements and computer databases will be used instead for checking availability of such agreements, even in the cases when the car is not used.

The mandatory car insurance was introduced in Armenia on January 1 2011. ($1=408.16drams). –0—