Agreement between National Bank of Kazakhstan and National Bank of Ukraine on the organization of interbank calculations
of October 14, 1997
The National Bank of Kazakhstan and the National Bank of Ukraine which are hereinafter referred to as "Party" agreed as follows:
1. All calculations and payments between business entities (legal entities and physical person) of the Republic of Kazakhstan and Ukraine are performed in national currencies of the Republic of Kazakhstan and Ukraine, and also in currencies of the third countries according to the legislation existing in the territory of the states of the Parties.
2. When implementing foreign economic activity the payment currency and form of calculations are determined by business entities of the Republic of Kazakhstan and Ukraine independently in the contracts (contracts) for delivery of products, rendering services, performance of works signed between them within the laws and rules existing in the territory of the states of the Parties.
1. 1 calculations specified in Article and payments are made through the banks of the Republic of Kazakhstan having the license of National Bank of Kazakhstan for carrying out banking activities in foreign currency and the banks of Ukraine having the right to carrying out transactions with currency values according to the license for banking operations granted by the National Bank of Ukraine (further - banks).
2. The banks of the Republic of Kazakhstan and banks of Ukraine perfroming mutual calculations and payments open direct correspondent accounts each other.
3. Calculations for intergovernmental agreements are perfromed through the banks which are specially stipulated in these agreements.
1. For calculations and payments between the Parties the operating correspondent accounts opened by National Bank of Kazakhstan in the National Bank of Ukraine (in legal tender currencies of Ukraine) and the National Bank of Ukraine in National Bank of Kazakhstan (in legal tender currencies of the Republic of Kazakhstan) according to the Agreement on the organization of calculations of January 20, 1994 remain.
2. Through the correspondent accounts of the Parties opened each other calculations only for the transactions following from function of Central Banks of the states are perfromed (including for own conversion transactions), calculations for other transactions are made only according to the supplementary agreement of the Parties.
1. Banks of the Republic of Kazakhstan and jars of Ukraine are opened each other or unilaterally by accounts in national currencies of the states of the Parties and in currencies of the third countries on the basis of the agreements on correspondence relations signed between them in which the technical procedure and conditions of implementation of payments and calculations is established.
2. The banks of the Republic of Kazakhstan and banks of Ukraine operating correspondent accounts (Loro and Nostro), can perform on these accounts on contractual conditions credit and deposit operations according to the accepted international banking practice and according to the legislation existing in the territory of the states of the Parties.
3. Responsibility for accomplishment of cross payment obligations and requirements for the calculations perfromed through banks is completely born by subjects of foreign economic activity.
4. The parties do not bear responsibility on settlement of the obligations arising between banks of the Republic of Kazakhstan and banks of Ukraine and do not guarantee balance of calculations for the transactions performed by them.
1. Through the correspondent accounts of the Parties opened each other the Parties agreed upon calculations as follows:
1.1 Payments (transactions) are made only in the presence of means on correspondent account.
1.2 Transactions on correspondent accounts are made no later than the banking day following behind day of receipt ought the processed payment documents.
1.3 Write-off of funds from correspondent account is made only based on written orders of bank - the account holder, certified by authorized persons according to card with specimen signatures and impress of a seal.
1.4 The means which are on the correspondent accounts of the Parties opened each other cannot be written off or transactions on them are stopped (on condition of availability of means on correspondent account) without the consent of bank - the account holder.
1.5 Percent on remaining balance on correspondent accounts are not charged and not paid except as specified when the credit balance on correspondent account is drawn up by the free deposit standing agreement.
1.6 Calculations are made by payment documents according to international standards.
1.7 Calculations through correspondent accounts of the Parties can be perfromed by means of electronic payments on system SWIFT, by telex or on system of the automated computer modem communication. The parties will take all necessary measures for the fastest implementation of electronic payments for carrying out calculations and will sign the free standing agreement about the organization of calculations by means of electronic means of communication in which the technology and procedure of electronic payments will be stipulated.
1.8 In case of extreme situations delivery of documents in sealed packets through the courier with the power of attorney of National Bank of Kazakhstan or the National Bank of Ukraine, respectively is allowed.
1.9 Reconciliation with confirmation of remaining balance and turnovers on correspondent accounts as of the last date of the expired quarter is made quarterly, no later than the 30th following the termination of quarter.
1.10 In case of force majeur circumstances (the force majeure circumstances which are not depending on will of the Parties) to which the natural disasters of accident, the fires, mass riots, strikes, military operations, blockade, embargo and other international sanctions, illegal actions of the third parties, currency restrictions, decisions of state governing bodies and other circumstances having direct influence on implementation of the functions by the Parties under the Agreement belong the Parties are exempted from liability for failure to carry out of the undertaken obligations if no later than ten days from the moment of approach of such circumstances, the Party which became subject to force majeure notifies in writing other Party on the incident and will ensure safety and recoverability of money. Completion date of obligations or is prolonged for the entire period of action of force majeur circumstances and liquidation of their effects, or established by the additional arrangement of the Parties.
1.11 The party which suffered losses in connection with force majeur circumstances can demand from the Party which became subject to force majeure, proofs of the taken place events. The proof of the taken place events and their durations are the documents confirmed with competent authority of the country where force majeur circumstances took place.
1.12 Documents by interbank calculations and payment documents are processed in Russian and/or in English languages.
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