Agreement on the organization of calculations between the National Bank of Ukraine and National Bank of the Republic Georgia
of January 9, 1995
The National Bank of Ukraine and National Bank of the Republic Georgia which are hereinafter referred to as with "Parties" agreed as follows:
Cross debt obligations and requirements of the Parties by results of trade and economic and other relations for 1992, 1993 and 1994, are subject to settlement at the intergovernmental level.
Calculations between business entities of Ukraine and the Republic Georgia are made in national currencies of Ukraine and the Republic Georgia, and also in currencies of the third countries, according to the laws existing in the territory of each state:
- through the Parties;
- through authorized banks.
The payment currency is determined by business entities in contracts (contracts) for delivery of products, rendering services.
The National Bank of Ukraine keeps to National Bank of the Republic Georgia correspondent account in karbovanets. The National Bank of the Republic Georgia keeps to the National Bank of Ukraine correspondent account and revaluates remaining balance on it according to the ruble exchange rate established by National Bank of the Republic Georgia to the coupon of National Bank of the Republic Georgia.
In mutual calculations the national currency rates are to each other established by each of the Parties independently according to the national foreign exchange legislation.
The parties periodically communicate about officially the established national currency rates.
The correspondent accounts of the Parties opened each other are used for implementation of the calculations between the Parties following from functions of national banks including for conversion interbank transactions, and also other transactions by agreement of the parties.
Calculations for all other transactions are perfromed through correspondent accounts of authorized banks.
Authorized banks of Ukraine are the commercial banks of Ukraine which obtained the general license of the National Bank of Ukraine for carrying out banking activities in foreign currency.
Authorized banks of the Republic Georgia are the commercial banks of the Republic Georgia which obtained the general license of National Bank of the Republic Georgia for carrying out banking activities in foreign currency.
The authorized banks of Ukraine and the Republic Georgia 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.
The parties recognize the obligations within the available means on the correspondent accounts opened for each other.
The parties guarantee that money which is on correspondent accounts of the Parties each other cannot be charged off, or transactions on them are suspended without the consent of bank - the account holder.
The parties do not bear responsibility on settlement of obligations of commercial banks.
Non-bank organizations of Ukraine perform all transactions on carrying out the foreign economic activity only through correspondent accounts of authorized banks of Ukraine.
Non-bank organizations of the Republic Georgia open accounts in authorized banks of Ukraine in the presence of the permission issued by National Bank and the Ministry of Finance of the Republic Georgia.
By calculations through the correspondent accounts opened in the Central or authorized banks, the Parties agreed as follows:
- payments (transactions) are made only in the presence of means on correspondent account;
- percent on correspondent accounts of the Parties are not charged;
- calculations are made by payment orders, payment requirements orders and letters of credit. As agreed by the parties other forms of calculations can be applied;
- statements are sent from correspondent accounts of the Parties each other, as a rule, no later than the next working day after carrying out payment (transaction). 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;
- in need of carrying out due payments delivery of documents through the courier with the power of attorney of the National Bank of Ukraine, National Bank of the Republic Georgia or commercial bank is allowed;
- documents by interbank calculations and payment documents are processed in Russian;
- according to the additional arrangement of the Parties payment documents and statements on correspondent accounts can be sent by telex, e-mail, or other means of electronic transfer of data.
This agreement becomes effective from the moment of signing by both Parties.
The agreement is effective till December 31, 1995. Effective period of this agreement is considered automatically extended for 1 year if from one of the Parties by December 20, 1995 the offer on its termination did not arrive.
The parties inform all bank institutions of the State on contents of this Agreement.
The Parties will solve all disputes and disagreements which can arise during the course of performance this agreement by negotiations.
It is made in Tbilisi on January "9", 1995 in Russian in duplicate, and both texts have identical legal force.
For the National Bank of Ukraine of the Republic
For Georgia National Bank
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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