The security agreement of customs payment by introduction into the account of customs authority of money or by use of guarantees of banks when moving goods under customs control between customs authorities of state members of Eurasian economic community

of May 19, 2006

The governments of state members of Eurasian economic community (further - EurAsEC) which are hereinafter referred to as with the Parties based on the Constitutive treaty of Eurasian economic community of October 10, 2000,

aiming at development of transportations of goods, both between state members of Eurasian economic community (EurAsEC), and between state members of EurAsEC and the third states,

proceeding from need of providing customs payment, unification and simplification of customs procedures, as one of the main conditions of forming of common economic space,

agreed as follows:

Article 1

For the purposes of this agreement the following concepts are used:

"guarantor" - the bank registered in the territory of state member of EurAsEC, which issued the bank guarantee taking into account requirements of the legislation of the state;

"bank guarantee" - the commitment letter of the guarantor to pay sum of money in case of non-execution or improper execution by the principal of its obligation on customs payment to customs authority of one of state members of EurAsEC;

"beneficiary" - the customs authority of state member of EurAsEC which accepted the bank guarantee;

"principal" - the legal entity or physical person registered in accordance with the established procedure in the territory of state member of EurAsEC on behalf and at the expense of which the guarantor issues the bank guarantee on payment of the amounts of customs payments in case of violation by the principal of obligations when moving goods under customs control between customs authorities of state members of EurAsEC;

"the state of appointment" - state member of EurAsEC in which movement of goods and vehicles under customs control comes to the end;

"the state of departure" - state member of EurAsEC in which movement of goods and vehicles under customs control begins;

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