Presidential Decree N7 dated 4 January 2000 contains provisions which have a bearing on the execution of settlements under foreign trade contracts. Individual entrepreneurs and legal entities which are parties to foreign trade contracts should take account of the following mandatory requirements:

Applicable legislation of Belarus mandates that foreign trade contracts be executed in writing. In accordance with Item 2 of Article 1116 of the Civil Code of the Republic of Belarus, a foreign trade contract concluded by a Belarusian legal entity or an individual citizen shall be made in writing regardless of the venue. If the contract is not executed in written form, it shall be declared void in line with Item 3 of Article 163 of the Civil Code.

A foreign trade contract is a narrower notion than “an international commercial contract”. Foreign trade contracts enjoy a legal status which reflects the state’s intention to promote the involvement of individual citizens and legal entities in foreign trade and sets forth specific measures of state foreign exchange, financial and customs controls.

Customs information