Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

Agreement between National Bank of the Republic of Kazakhstan and National Bank of Moldova on the organization of calculations

of August 5, 1996

The National Bank of Kazakhstan and National Bank of Moldova which are hereinafter referred to as "Party" agreed as follows:

Article 1

1. Calculations between the Republic of Kazakhstan and the Republic of Moldova are made in legal tender currencies of the Republic of Kazakhstan and the Republic of Moldova, and also in freely convertible currencies according to the laws existing in the territory of each state:

- through the Parties;

- through the banks having the license for carrying out banking activities in foreign currency and special permission to the opening of correspondent account issued by National Bank of Kazakhstan or National Bank of Moldova (further - banks);

- through other agents authorized by National Bank of Kazakhstan and National Bank of Moldova on carrying out these transactions.

2. The banks participating in the called calculations open direct correspondent accounts each other.

3. The National Bank of Kazakhstan opens to National Bank of Moldova the account in legal tender currencies of Kazakhstan, and the bank of Moldova opens jar of Kazakhstan of accounts in legal tender currencies of Moldova.

4. In mutual calculations currency rates are to each other established by each of the Parties independently according to the foreign exchange legislation.

5. The parties communicate about the established currency rates in process of their quotation.

Article 2

1. Calculations through correspondent accounts of the Parties are perfromed for the provided goods, works and services by legal entities of the Republic of Kazakhstan and the Republic of Moldova in intergovernmental agreements.

2. Calculations for all other transactions are perfromed through banks.

Article 3

The banks of the Republic of Kazakhstan and banks of the Republic of Moldova operating correspondent accounts (Loro and Nostro), can credit each other on contractual conditions according to the accepted international banking practice and according to the laws existing in the territory of each state.

Article 4

The parties guarantee that the means of the Parties which are on correspondent accounts of the Parties cannot be written off without the consent of the account holder.

The parties do not bear responsibility on settlement of the arising obligations between bank of the Republic of Kazakhstan and the Republic of Moldova.

Article 5

1. Legal entities and physical persons - the residents of the Republic of Kazakhstan opening accounts in banks of the Republic of Moldova shall show special permission of National Bank of Kazakhstan to opening of the corresponding account.

2. Legal entities and physical persons - the residents of the Republic of Moldova opening accounts in banks of the Republic of Kazakhstan shall show the license of National Bank of Moldova for opening of the corresponding account.

Article 6

Payments on uncommercial transactions are made in generally established procedure in legal tender currencies of the country of the payer or receiver, and also in freely convertible currency, through correspondent accounts of banks, other agents authorized by National Bank of Kazakhstan and National Bank of Moldova on carrying out these transactions.

Article 7

The procedure for import and export of cash in currency of the Republic of Kazakhstan and the Republic of Moldova in the territories of the countries of the Parties is regulated by the foreign exchange legislation and the relevant regulating documents of the Republic of Kazakhstan and the Republic of Moldova.

Article 8

By the calculations through correspondent accounts of the Parties opened each other. The parties agreed as follows:

1. Payments (transactions) are made only in the presence of means on correspondent account.

2. Percent on correspondent accounts are not charged and not paid.

3. The reinforcement of correspondent accounts can be performed also due to provision of one state by the Government to the Government of other state of inter-government credit and be regulated by the free standing agreement.

4. Calculations between business entities of the states are made based on properly the processed payment documents according to the international banking practice.

5. Transactions on correspondent accounts are made no later than the banking day following behind day of receipt properly of the processed bank documents. Payment documents are processed in Russian.

6. Write-off of funds from correspondent account is made only based on written orders of the Party - the account holder, two officials who are drawn up by seals and signatures which samples account holders exchange.

7. Statements are sent from correspondent accounts of the Parties each other, as a rule, no later than the next working day after carrying out transaction (payment) on the account through courier mail.

To the statement from correspondent account two copies of the summary payment order on the total amount of turnovers of correspondent account and lists in duplicate with settlement and cash documents are put to them.

8. In need of carrying out due payments delivery of documents in sealed packets through the courier with the power of attorney of National Bank of Kazakhstan or National Bank of Moldova is allowed.

Full text available with active License only!

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

Effectively work with search system

Database include more 38000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.