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Foreign economic activity. Types of compensation transactions (most important)

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92. Types of compensation transactions

The basis of the compensation deal is international countertrade and its forms, as well as export-import operations within the framework of industrial cooperation and scientific and technical cooperation. Types of transactions are classified depending on the nature of mutual counter obligations, the form of compensation for deliveries and the timing of their execution.

Framework Agreement is a contract that can be enforced by law. It contains a clear definition of the mutual obligations of the parties, the specification of goods supplied in countertrade, an indication of the calculation of their value: on CIF or FOB terms. In addition, the procedure for payment or other settlement of the balance during certain periods or after the expiration of the agreement is determined. The framework agreement allows the implementation of the obligations of the exporter through its branches or firms entrusted to it, as well as the transfer of export obligations to a third party for the sale of goods for counter-purchases in any market. In addition, the framework agreement provides for the linkage of sales contracts, which means, for example, that the exporter's obligations become effective only after the conclusion of the main export contract or after the seller (on counterpurchase) provides a performance guarantee.

Barter deals - represent a simple exchange of goods or services without regard to their monetary value and are implemented through barter agreements, which are sometimes called a compensation agreement. Non-fulfillment by one partner of delivery in accordance with the contract may be the basis for non-fulfillment of obligations by another. Ownership of goods supplied in barter transactions by each of the parties passes at the time agreed by the parties and specified in the contract.

Compensation transactions on a commercial basis - represent essentially the same barter, only with an estimate of the cost. They are implemented through agreements under which the exporter enters into a separate contract for the supply of goods to a foreign buyer and at the same time undertakes to purchase a certain volume of goods in the country of the buyer. That is, there are two sales contracts here: export and counter-purchase. Determination of the equivalence of the cost of counter purchases for the entire volume of the export delivery or its part depends on the terms of the agreement between the parties. Another way to implement compensation transactions with valuation can be transactions based on a single contract of sale, which represents the mutually linked obligations of the parties that depend on each other. Such agreements are characterized by two points: the first is related to the problem of settling the balance of payments in favor of one of the parties, which requires the opening of an account for mutual settlements. The second point is related to the problem of the further method of disposing of goods received from the importer.

Thus, offset transactions on a commercial basis include transactions with partial or full compensation on a two-way or three-way basis.

Compensation deals based on industrial cooperation - carried out as part of the supply of complete equipment and implemented through compensation agreements. They provide for the exporter's obligations to ensure the supply of equipment and technologies on the basis of long-term loans, the payments for which are carried out by the supply of finished products from enterprises or facilities built in the importer's country. Compensatory transactions of this nature are characterized by their scale, the use of a system of independent contracts and complex financial and organizational mechanisms.

List of normative legal acts

1. Civil Code of the Russian Federation (Civil Code of the Russian Federation) (parts one, two and three) (as amended and supplemented on February 20, August 12, 1996, October 24, 1997, July 8, December 17, 1999, April 16, May 15, November 26, 2001, March 21, November 14, 26, 2002, January 10, March 26, November 11, December 23, 2003, June 29, July 29, December 2, 29, 30 2004, March 21, May 9, July 2, 18, 21, 2005, January 3, 2006).

2. The Tax Code of the Russian Federation (TC RF) (as amended and supplemented on March 30, July 9, 1999, January 2, August 5, December 29, 2000, March 24, May 30, 6, 7, 8 August, 27, 29 November, 28, 29, 30, 31 December 2001, 29 May, 24, 25 July, 24, 27, 31 December 2002, 6, 22, 28 May, 6, 23, 30 June , July 7, November 11, December 8, 23, 2003, April 5, June 29, 30, July 20, 28, 29, August 18, 20, 22, October 4, November 2, 29, 28, 29, 30 December 2004, May 18, June 3, 6, 18, 29, 30, July 1, 18, 21, 22, October 20, November 4, December 5, 6, 20, 31, 2005).

3. Customs Code of the Russian Federation of May 28, 2003 No. 61-FZ (Labor Code of the Russian Federation) (as amended and supplemented on December 23, 2003, June 29, August 20, November 11, 2004, July 18, 31 December 2005).

4. Law of the Russian Federation of May 21, 1993 No. 5003-I "On the Customs Tariff" (as amended and supplemented on August 7, November 25, December 27, 1995, February 5, 1997, February 10, May 4 1999, May 27, December 27, 2000, August 8, December 29, 30, 2001, May 29, July 25, December 24, 2002, June 6, July 7, December 8, 23, 2003, May 7, June 29, August 22, 2004, July 21, November 8, December 20, 2005).

5. Federal Law No. 14-FZ of April 1998, 63 "On Measures to Protect the Economic Interests of the Russian Federation in Foreign Trade in Goods" (as amended and supplemented on July 24, 2002, December 8, 2003).

6. Federal Law of July 19, 1998 No. 114-FZ "On Military-Technical Cooperation of the Russian Federation with Foreign States".

7. Federal Law of July 9, 1999 No. 160-FZ "On Foreign Investments in the Russian Federation" (as amended and supplemented on March 21, July 25, 2002, December 8, 2003, July 22, 2005 ).

8. Federal Law of July 18, 1999 No. 183-FZ "On Export Control" (as amended and supplemented on December 30, 2001, June 29, 2004, July 18, 2005).

9. Federal Law of August 7, 2001 No. 115-FZ "On counteracting the legalization (laundering) of proceeds from crime and the financing of terrorism" (as amended and supplemented on July 25, October 30, 2002, July 28 2004, November 16, 2005).

10. Federal Law No. 8-FZ of December 2003, 164 "On the Fundamentals of State Regulation of Foreign Trade Activity" (as amended and supplemented on August 22, 2004, July 22, 2005).

11. Federal Law No. 10-FZ of December 2003, 173 "On Currency Regulation and Currency Control" (as amended and supplemented on June 29, 2004, July 18, 2005).

12. Decree of the President of the RSFSR of November 15, 1991 No. 213 "On the liberalization of foreign economic activity on the territory of the RSFSR" (as amended and supplemented on October 27, 1992) (lost force).

13. Decree of the President of the Russian Federation of January 10, 2000 No. 24 "On the Concept of the National Security of the Russian Federation".

14. Decree of the President of the Russian Federation of June 21, 2001 No. 742 "On the procedure for importing into the Russian Federation and exporting from the Russian Federation precious metals and precious stones" (as amended and supplemented on August 5, 2002, September 30, 2003 ).

15. Decree of the President of the Russian Federation of March 9, 2004 No. 314 "On the system and structure of federal executive bodies" (as amended and supplemented on May 20, 2004, March 15, November 14, December 23, 2005).

16. Decree of the President of the Russian Federation of September 10, 2005 No. 1062 "Issues of military-technical cooperation of the Russian Federation with foreign states".

17. Decree of the Government of the Russian Federation of February 22, 2000 No. 148 "On the Customs Tariff of the Russian Federation - a set of rates of import customs duties and a commodity nomenclature used in the implementation of foreign economic activity" (with amendments and additions of March 16, April 8, 11 May, July 7, 28, August 3, November 27, 2000, July 6, August 23, 30, November 30, 2001, February 26, 2002).

18. Decree of the Government of the Russian Federation of August 27, 2004 No. 443 "On approval of the Regulations on the Ministry of Economic Development and Trade of the Russian Federation" (as amended and supplemented on May 20, 2005).

19. Decree of the Government of the Russian Federation of August 21, 2004 No. 429 "On the Federal Customs Service" (as amended and supplemented on June 10, 2005).

20. Decree of the Government of the Russian Federation of June 9, 2005 No. 364 "On approval of regulations on licensing in the field of foreign trade in goods and on the formation and maintenance of a federal bank of issued licenses".

21. Order of the State Customs Committee of the Russian Federation of August 5, 1998 No. 01-14/854 "On the establishment of points for receiving notifications on the importation of goods under the TIR procedure into the territory of the Russian Federation" (as amended and supplemented on August 12, 1999, April 27 2001).

22. Order of the State Customs Committee of the Russian Federation of October 3, 2000 No. 897 "On approval of the Regulations on customs escort of goods and vehicles" (as amended and supplemented on November 20, 2001, November 27, 2002).

Author: Bobkova O.V.

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