PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of November 11, 2024 No. 416

About activities for financing under concession of monetary claim (factoring)

For the purpose of enhancement of state regulation of activities of the commercial organizations for financing under concession of monetary claim (factoring):

1. Determine that:

1.1. the commercial organizations have the right to sign agreements of financing under concession of monetary claim (agreements of factoring) under which they in total to the creditor (creditors) provide financing in the amount exceeding 3000 basic sizes for calendar year and at the time of concession of requirements the delay of execution of monetary commitments of the debtor before the initial creditor constitutes no more than 180 days, on condition of inclusion in the register of the factoring organizations (further - the register);

1.2. activities for the conclusion of the agreements specified in subitem 1.1 of this Item by the commercial organizations which are not included in the register are illegal and are forbidden;

1.3. the commercial organizations included in the register (further - the factoring organizations), are the faces performing financial transactions;

1.4. The National Bank realizes state policy in the field of the relations arising in case of the conclusion of the agreements specified in subitem 1.1 of this Item and establishes:

procedure for creation and maintaining register;

procedure for inclusion of the commercial organization in the register, introduction in it of changes, procedure and bases of exception of the factoring organization of the register;

requirements to goodwill of founders (participants), owners of property, beneficial and other owners of the factoring organizations;

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