Document from CIS Legislation database © 2003-2024 SojuzPravoInform LLC

AGREEMENT OF THE STATE PARTIES OF COMMONWEALTH OF INDEPENDENT STATES

of July 31, 2023

About rules of release (issue), the address and repayment within the Eurasian Economic Union of warehouse certificates on agricultural products

The state members of the Eurasian Economic Union which further are referred to as with state members

based on the Agreement on the Eurasian Economic Union of May 29, 2014,

separating aspiration to ensuring transparency of functioning of the market of agricultural products,

proceeding from interest of state members in expansion of practice of use within the Eurasian Economic Union (further - the Union) warehouse certificates on agricultural products and in providing their steady address, and also availability of financial resources to holders of warehouse certificates,

observing the principles of mutual respect, equality and openness,

agreed as follows:

Article 1

For the purposes of this agreement concepts which mean the following are used:

"the holder of the warehouse certificate" - the legal entity or physical person which is performing business activity according to the legislation of state member, having the right of the order the agricultural products which are stored in warehouse in that quantity and quality which are specified in the warehouse certificate;

"pawnbroker" - the legal entity or physical person having right to claim of obligation fulfillment, provided with pledge of agricultural products;

"the register of warehouse certificates" - the information resource of state member containing data about the issued (granted) warehouse certificates, including about transactions with warehouse certificates (including their repayment), about availability of restrictions (including their nature) on the circulation of warehouse certificates or on implementation of the rights on them, and also the information about holders of warehouse certificates and pawnbrokers;

"warehouse" - the legal entity of state member performing according to the legislation of state member as business activity storage of goods and rendering services in storage of agricultural products;

"warehouse certificate" - the bank not issued security certifying the right of her holder to obtaining at warehouse of agricultural products in the quantity and quality determined in case of release (issue) of this paper, and granting right to claim of obligation fulfillment provided with pledge.

Other concepts used in this agreement are understood in the values defined by the Agreement on the Eurasian Economic Union of May 29, 2014 and international treaties within the Union.

Article 2

1. This agreement regulates the legal relationship connected with release (issue), the address and repayment within the Union of warehouse certificates and determines requirements imposed to warehouse certificates.

2. Release (issue), the address and repayment within the Union of warehouse certificates are performed according to the legislation of state members taking into account provisions of this agreement.

3. The circulation of warehouse certificates is performed at the exchange and (or) the curb market according to the legislation of state member.

4. Types of agricultural products on which are issued warehouse certificates (are granted), determined by the legislation of state member.

5. The warehouse certificates issued (issued) in state members, included in registers of warehouse certificates and conforming to requirements of this agreement mutually are recognized state members.

Article 3

1. In confirmation of acceptance on storage of agricultural products of certain quantity and quality is issued by warehouse the warehouse certificate which is drawn up in Russian and state language (state languages) of state member (is granted) (if it is stipulated by the legislation state member).

2. The warehouse certificate contains the following obligatory data (details):

a) number and date of issue (issues) of the warehouse certificate;

b) the name of the warehouse which accepted agricultural products on storage, its location and number identifying person as the taxpayer of state member;

c) the name of the holder of the warehouse certificate which checked agricultural products, its location - for the legal entity, surname, name, middle name (in the presence), the residence - for physical person, number identifying person as the taxpayer of state member (in the presence);

d) type of the agricultural products accepted on storage, its quantity and quality characteristics;

e) the term for which agricultural products are accepted on storage if according to the legislation of state member such term is determined, or specifying that products are accepted on storage poste restante;

e) details of permission to rendering services in storage of agricultural products with release (issue) of warehouse certificates or the document confirming inclusion of data on warehouse in the register of the warehouses of state member issuing (granting) warehouse certificates (further - the register of warehouses);

g) amount of remuneration for storage of agricultural products (rates based on which it is calculated) and payment procedure of storage of these products or date to which fee on storage is made;

h) data on procedure for ensuring obligation fulfillment according to the warehouse certificate.

Article 4

1. Data on the issued (granted) warehouse certificate are entered in the register of warehouse certificates.

2. In case of assignment of rights according to the warehouse certificate in the register of warehouse certificates the corresponding record is made.

3. The register of warehouse certificates contains data, stipulated in Item 2 Articles 3 of this agreement, and also the data:

a) about the name, the location of the pawnbroker, number identifying it as the taxpayer of state member (in case of pledge of agricultural products);

b) about assignment of rights according to the warehouse certificate;

c) about repayment of the warehouse certificate;

d) about restriction of the rights on the warehouse certificate.

4. The procedure for forming and maintaining the register of warehouse certificates is determined by the legislation of state member taking into account provisions of this Article.

5. Accounting of the rights according to warehouse certificates can be performed with involvement of the organizations determined according to the legislation of state member.

Article 5

1. The warehouse performs the activities in the territory of state member and follows the storage precautions of agricultural products and the requirement to conducting quantitative and qualitative accounting of agricultural products established according to the legislation of state member.

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