of February 26, 1997 No. 1117
About commodity exchanges
The parliament adopts this law.
This law regulates creation and activities of commodity exchanges, the rights and obligations of their members, the organization of stock exchange trading, protection of the rights and legitimate interests of her participants.
Operation of this law extends to all commodity exchanges which are created or will be created in the territory of the Republic of Moldova if other is not established by the legislation.
For the purpose of this law the following concepts are used:
the buying body – the legal entity meeting the requirements established in article 13 of the Law on public procurements No. 131/2015;
the exchange contract – the agreement signed according to rules of commodity exchange which conditions are in advance determined by commodity exchange. Spot contracts, forward contracts, purchase and sale agreements or deliveries of goods, services or works, contracts of assignment of receivables, purchase and sale agreements in the mixed market belong to exchange contracts;
the forward contract – the purchase and sale agreement with the delayed term which conditions are in advance determined by commodity exchange;
the spot contract – the purchase and sale agreement with in advance determined conditions of commodity exchange, with immediate execution or execution within 10 working days from the date of manifestation of the firm agreement of the parties by means of the transaction made at commodity exchange;
the buying subject – the legal entity meeting the requirements established in article 4 of the Law on purchases in sectors of power, water resources, transport and post services No. 74/2020;
the market of receivables – the public market organized for sale or purchase of receivables;
the public market – the market in which negotiations according to offers are conducted and transactions on the conclusion of spot and forward contracts are made;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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