Agreement between National Bank of the Republic of Belarus and Central Bank of Turkmenistan on the organization of calculations
of August 9, 1996
The National Bank of the Republic of Belarus and the Central bank of Turkmenistan which are hereinafter referred to as with the Parties agreed as follows.
All calculations and payments for goods and services between business entities (legal entities and physical person) of the Republic of Belarus and Turkmenistan in agreements (contracts) signed between them are performed in national currencies of the Republic of Belarus and Turkmenistan, currencies of the State Parties of the Payment union, and also in freely convertible currencies according to the legislation of the states in the territory of which calculations are made.
The payment currency and forms of calculations are determined by agreement of subjects of foreign economic activity.
1 calculations specified in Article and payments are made via bank transfer through correspondent accounts of authorized banks of the Republic of Belarus and Turkmenistan.
Calculations for intergovernmental agreements are perfromed through the special accounts opened for these purposes in authorized banks including through the accounts opened by the Parties each other.
Authorized banks of the Republic of Belarus are the banks of the Republic of Belarus which obtained the general license of National Bank of the Republic of Belarus for carrying out transactions with foreign currency.
Authorized banks of Turkmenistan are the commercial banks of Turkmenistan having special permission of the Central bank of Turkmenistan with the right of maintaining correspondent accounts in foreign currency.
Authorized banks of the Republic of Belarus and Turkmenistan can credit each other on contractual conditions taking into account the accepted international banking practice and according to the legislation existing in the territory of each state.
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