ORDER of the MINISTRY OF ECONOMICS AND REFORMS of the REPUBLIC OF MOLDOVA, MINISTRY OF FINANCE of the REPUBLIC OF MOLDOVA and DEPARTMENT of the STATISTIC AND SOCIOLOGICAL ANALYSIS of the REPUBLIC OF MOLDOVA

of April 18, 2001 No. 17, on April 20, 2001 No. 47, on March 27, 2001 No. 21

About procedure for indexation of payments depending on the rate of inflation in case of payment of cost of the privatized state-owned property

In pursuance of the legislation on privatization Minister of Economic Affairs and reforms, Minister of Finance and CEO of Department of the statistic and sociological analysis of PRIKAZYVAYUT:

1. Approve the Instruction about procedure for indexation of payments depending on the rate of inflation in case of payment of cost of the privatized state-owned property it (is applied).

2. Determine that economic agents who participated in process of privatization (buyers) shall be guided by this instruction in case of payment of cost of the privatized state-owned property.

3. Oblige Department of privatization and management of state-owned property to observe when implementing settlings with buyers this instruction in case of payment of cost of the privatized state-owned property.

4. The instruction can be applied also in case of recalculation of the rate of inflation in case of payment of cost by installments for earlier privatized state-owned property.

5. This order becomes effective from the date of publication in "Monitorul Oficial al Republicii Moldova".

The instruction about procedure for indexation of payments depending on the rate of inflation in case of payment of cost of the privatized state-owned property

I. General provisions

1. This instruction about procedure for indexation of payments depending on the rate of inflation in case of payment of cost of the privatized state-owned property was developed according to the Law on privatization, the Law on the Privatization program for 1997-1998 and other regulations.

2. According to the current legislation the buyer shall pay the amounts provided in the purchase and sale agreement of object taking into account the rate of inflation from date of the conclusion of the agreement before date of the actual payment.

II. Procedure for indexation of payments depending on the rate of inflation in case of payment of cost of the privatized state-owned property

3. The rate of inflation calculated by Department of the statistic and sociological analysis under the Government of the Republic of Moldova is applied on each payment made according to the signed purchase and sale agreement of this object including in case of payment of cost by lump sum payment or by installments.

In case of payment of project cost by lump sum payment the amount which is paid at the scheduled time according to the agreement (further - the next payment) is indexed.

In case of payment of project cost each reeshelonirovanny payment is by installments indexed (further - the next payment).

4. The amount of the next payment for object increases by the size equal to the work of the amount of this payment on the rate of inflation from date of the conclusion of the agreement before date of the next payment according to the agreement and subsequently is recalculated for date of the actual payment.

5. If complete payment of project cost is paid till 30 days from the date of purchase and sale agreement signature, the next payment is not indexed depending on the rate of inflation.

6. If the purchase and sale agreement of object is signed after the 1st day of the corresponding month, the inflation index for this (first) month is calculated by division of official monthly rate of surplus of the inflation index on the number of days this month, the subsequent multiplication of this size on the number of days of date of the conclusion of the agreement until the end of this month and addition of the received size to 1 (unit).

7. If the next payment shall be made after the 1st day of the corresponding month, the inflation index for this (last) month is calculated by division of official monthly rate of surplus of the inflation index on the number of days in this month, the subsequent multiplication of this size on the number of days from the beginning of this month to payment date this month and additions of the received size to 1 (unit). The inflation index for this (last) month is considered at the level of the last month with subsequent its refining after receipt of the official inflation index for the corresponding month, production of recalculation and surcharge by the buyer of the underpaid amount or offsetting of the amount overpaid to them when implementing the next payments. The remaining balance of the overpaid amount returns to the buyer after complete payment of object.

8. If the buyer delayed date of the next payment, the rate of inflation is calculated for the entire period of date of the conclusion of the agreement before date of the actual payment according to the procedure, established by Items 6 and 7 of this instruction.

9. If the buyer pays one-timely more next payments (early payment of reeshelonirovanny payments), on all paid amount the rate of inflation calculated for the entire period of date of the conclusion of the agreement before date of the actual payment according to the procedure, established by Items 6 and 7 of this instruction is applied.

10. If the buyer delayed date of the next payment, it pays penalty fee in the amount of 0,1 of % of payment amount taking into account the amount calculated according to the rate of inflation for each day of delay.

11. If the buyer executed the next payment in time, but did not pay the amount calculated according to the rate of inflation, it pays penalty fee in the amount of 0,1 of % of this amount.

12. The department of privatization before date of the next payment for object calculates the rate of inflation for the corresponding period, determines the additional amount by this payment and tells it to each buyer in writing not later than 5 days before this date.

13. The additional amount of payment calculated for the rate of inflation for the corresponding period is determined by the monthly indexes of inflation by chain method on the following formula:

where:

Y - the additional amount of payment calculated for the rate of inflation for the corresponding period;

C - main amount of the next payment for object;

tk - the official inflation index for k-ty month (k = 1,2,... n-1, n);

m1 - the number of days of date of the conclusion of the purchase and sale agreement of object until the end of this month (the first month of the agreement);

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info