DECISION OF COUNCIL OF THE EURASIAN ECONOMIC COMMISSION

of September 15, 2017 No. 65

About approval of the Procedure for determination of financial stability of the legal entity applying for inclusion in the register of Authorized Economic Operators, and the values characterizing financial stability and necessary for inclusion in this register

According to Item 14 of the Regulations on the Eurasian economic commission (appendix No. 1 to the Agreement on the Eurasian Economic Union of May 29, 2014), Item 7 of Article 433 of the Customs code of the Eurasian Economic Union and Item 12911 of appendix No. 1 to the Regulations of work of the Eurasian economic commission approved by the Decision of the Supreme Eurasian economic council of December 23, 2014 No. 98, Council of the Eurasian economic commission solved:

1. Approve the enclosed Procedure for determination of financial stability of the legal entity applying for inclusion in the register of Authorized Economic Operators, and the values characterizing financial stability and necessary for inclusion in this register.

2. This Decision becomes effective after 10 calendar days from the date of its official publication, but not earlier than the date of entry into force of the Agreement on the Customs code of the Eurasian Economic Union of April 11, 2017.

Approved by the Decision of Council of the Eurasian economic commission of September 15, 2017, No. 65

Procedure for determination of financial stability of the legal entity applying for inclusion in the register of Authorized Economic Operators, and the values characterizing financial stability and necessary for inclusion in this register

I. General provisions

1. This Procedure determines:

a) indicators of financial stability of the legal entity applying for inclusion in the register of Authorized Economic Operators (further respectively – indicators of financial stability, the register), and procedure for their calculation;

b) criteria of indicators of financial stability and their importance;

c) procedure of payments of cumulative indicator of financial stability of the legal entity applying for inclusion in the register (further – cumulative indicator).

2. The legal entity applying for inclusion in the register is recognized financially steady if the value of cumulative indicator representing the amount of indicators of financial stability in points makes at least 50 points.

3. Measure values of financial stability are calculated the legal entity applying for inclusion in the register based on the data containing in accounting (financial) records which are constituted and (or) it is represented according to the legislation of state members of the Eurasian Economic Union.

Measure values of financial stability can be confirmed by auditing organization (the auditor performing activities as the individual entrepreneur) regarding reliability of their calculation and data based on which they are calculated if it is established by the legislation of state members of the Eurasian Economic Union.

Financial stability of the legal entity applying for inclusion in the register can be determined taking into account the forecast of credit rating agencies in the long term for 3 next years if it is established by the legislation of state members of the Eurasian Economic Union.

4. Measure values of financial stability are calculated as arithmetic average of the measure values of financial stability calculated for the last 3 accounting years based on annual accounting (financial) accounts of the legal entity applying for inclusion in the register.

5. Measure values of financial stability and cumulative indicator are calculated according to the Section II of this Procedure, and for the Republic of Belarus, the Republic of Kazakhstan and the Russian Federation also according to calculation according to appendix.

If the calculated measure values of financial stability are equal or exceed the values of criteria of indicators of financial stability established in the Section III of this Procedure, the importance of these indicators in points is accepted equal to the values established in the Section III of this Procedure.

If the calculated measure values of financial stability there are less values of criteria of the indicators of financial stability established in the Section III of this Procedure, the importance of these indicators in points is accepted equal to zero.

II. Indicators of financial stability and procedure for their calculation

1. Absolute measures of financial stability

6. The size of net assets (K) characterizes the determined annually real property value of the legal entity less its obligations and is calculated by formula:

Kcha = And - (TO + TO),

where:

And – all assets of the legal entity, except for receivables of founders;

TO – long-term obligations of the legal entity;

TO – short-term obligations of the legal entity.

7. The size of the authorized capital (K) characterizes the size of the authorized capital specified in constituent documents of the legal entity, in each reporting year.

8. Residual cost of fixed assets (K) characterizes the cost of fixed assets of the legal entity less their depreciation and is calculated by formula:

2. Relative indicators of financial stability

9. Values of relative indicators of financial stability are rounded to within 2 signs after comma.

10. The coefficient of autonomy (K) characterizes degree of independence of the legal entity of creditors, is determined as the equity relation to currency (result) of balance and calculated by formula:

11. The coefficient of general (current) liquidity (K) characterizes capability of the legal entity to provide the short-term obligations at the expense of current assets and is calculated by formula:

12. Profitability of equity (K) characterizes the relation of profit of the legal entity to cost of equity and is calculated by formula:

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