RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of April 16, 2025 No. 85

About requirements to rules of implementation of activities for financing under concession of monetary claim (factoring)

Based on the paragraph of the seventh subitem 1.4 of Item 1 of the Presidential decree of the Republic of Belarus of November 11, 2024 No. 416 "About activities for financing under concession of monetary claim (factoring)", 8, Article parts one 9, of article 11 of the Law of the Republic of Belarus of November 10, 2008 No. 441-Z "About credit stories" and parts one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES: Article parts one

1. Establish the following requirements to rules of implementation of activities for financing under concession of monetary claim (factoring) (further - rules) the commercial organizations included in the register of the factoring organizations (further - the factoring organizations):

1.1. rules affirm governing body of the factoring organization which competence according to constituent documents of the factoring organization includes development, approval and change of rules;

1.2. rules cannot establish the rights and obligations of the Parties under the agreement of financing under concession of monetary claim (the agreement of factoring) (further - the agreement of factoring) and to be its part;

1.3. rules shall contain:

the list of the performed financing types under concession of monetary claim (factoring) (open factoring, the hidden factoring, factoring with availability or lack of the right of regress);

types of monetary claims which can be subject of the agreements of factoring signed by the factoring organization and the list of requirements to the specified monetary claims;

forms and types of the remuneration levied by the factoring organization for agreements of factoring, procedure for determination of amount of remuneration and its collection;

the list of documents and the information provided by the creditor and (or) the debtor to the conclusion of the agreement of factoring for each type of financing under concession of monetary claim (factoring), in case of need changes of its conditions and during its execution;

procedure for decision making about possibility of the conclusion of the agreement of factoring and conditions of provision of financing on the agreement of factoring based on assessment specified in paragraphs three and the fourth subitem 1.4 of this Item for each type of financing under concession of monetary claim (factoring);

operations procedure of employees of the factoring organization (its structural divisions) by consideration of the address of the creditor or debtor with the offer to sign the agreement of factoring and interaction of employees of the factoring organization (its structural divisions) in the course of the conclusion, execution, changes and cancellation of the agreement of factoring for each type of financing under concession of monetary claim (factoring);

forms of the standard agreements of factoring (in the presence) signed by the factoring organization by each type of financing under concession of monetary claim (factoring);

size and procedure of payments of penalty (penalties, penalty fee);

cases in case of which approach ensuring obligation fulfillment of the creditor and (or) debtor under the agreement of factoring, methods and the amount of such providing is required;

procedure of interaction of the factoring organization with the creditor and (or) the debtor within the signed agreement of factoring in case of exception of the factoring organization of the register of the factoring organizations, in case of decision making about the termination of its activities as a result of reorganization or liquidation;

types of the additional services rendered by the factoring organization connected with the monetary claim which is the subject of the agreement of factoring, procedure and conditions of rendering such services, types, procedure for determination of the size and collection of remuneration on each type of service;

the description of the measures directed to non-admission of conflict of interest * when implementing by the factoring organization of activities for the conclusion of agreements of factoring;

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* For the purposes of this resolution the conflict of interest is understood as situation in case of which interests of the factoring organization, her founders (participants), the owner of property, beneficial and other owners influence or can influence proper accomplishment of obligations of the factoring organization for creation of conditions for the conclusion and execution of agreements of factoring, agreements in ensuring obligation fulfillment, including implementation of reliable assessment by the factoring organization of capability of the creditor and (or) debtor to fulfill the obligations on these agreements.

1.4. in addition in rules criteria, technique, procedure and terms of assessment shall be determined:

the monetary claims offered to concession for each type of financing under concession of monetary claim (factoring);

financial condition of the creditor and its capability to fulfill the agreement obligations of factoring and to the agreement of ensuring obligation fulfillment (if the monetary claim to the debtor will be yielded by the creditor of the factoring organization for the purpose of ensuring obligation fulfillment of the creditor before it);

financial condition of the debtor and its capability to fulfill the obligations according to the yielded requirements, and also the agreement of factoring if the debtor is the party under such agreement;

capabilities fulfill the obligations person which signed the agreement of ensuring obligation fulfillment of the debtor and (or) creditor with the factoring organization;

1.5. rules may contain other provisions which are not contradicting this resolution and other acts of the legislation.

2. Bring in the resolution of Board of National Bank of the Republic of Belarus of June 22, 2018 No. 291 "About forming of credit stories and provision of credit reports" the following changes:

in the Instruction about procedure for submission of the data which are part of credit history in form 2501 "The data which are part of the credit history" approved by this resolution:

in part one of Item 11-1 of the word "or leasing activities" shall be replaced with words ", leasing activities or activities for financing under concession of monetary claim (factoring)";

add Item 40 with part of the following content:

"Representation by source of forming of credit history of the data which are part of credit history of the debtor, rights to claim against which are yielded to source of forming of credit history under the agreement of the hidden factoring, can be performed based on the data received by source of forming of credit history from the creditor who yielded rights to claim against the debtor.";

in Item 42:

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