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IFC Invests in Belarusky Narodny Bank to Expand Small, Medium Business Finance
IFC, a member of the World Bank Group, is joining the Bank of Georgia in supporting the growth strategy of Belarusky Narodny Bank, contributing to development of the banking sector and expanding access to finance for small and medium companies in Belarus.
Settlements under foreign trade contracts
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:
Format and terms of a foreign trade contract
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.
Definition of a foreign trade contract
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.
Addresses and telephones of Belarusian customs agencies
Customs information
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Belarus throws open the doors
After two decades in the shadows, Belarus is expected to throw open its doors to large-scale international investment this year. Numerous privatisations and M&A deals, involving international as well as domestic investors, are on the cards as the country restarts its stalled reform programme.
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IFC Invests in Belarusky Narodny Bank to Expand Small, Medium Business Finance
IFC, a member of the World Bank Group, is joining the Bank of Georgia in supporting the growth strategy of Belarusky Narodny Bank, contributing to development of the banking sector and expanding access to finance for small and medium companies in Belarus.