PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of February 17, 2015 No. 69

About use of bills of exchange

For the purpose of creation of conditions for strengthening of competitiveness of the Belarusian goods and enhancement of financial mechanisms of stimulation of export:

1. Determine that:

1.1. in case of payment under the agreements in foreign trade providing export, exporters * has the right to accept from nonresidents as payment of the bill of exchange, issued or avalized the foreign banks corresponding to the criteria established by National Bank (further - bills of exchange) **;

1.2. accounting of bills of exchange ***, being settlement documents according to the agreements in foreign trade having the right to perform banks, the non-bank credit and financial organizations, and also other legal entities registered in the Republic of Belarus which authorized capital is created in the amount of at least 50 thousand euros for date of accounting of the bill of exchange.

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* For the purposes of this Decree "exporter" is understood as the individual entrepreneur, the legal entity registered in the Republic of Belarus, who signed the agreement in foreign trade providing export.

** For the purposes of this Decree the term "agreement in foreign trade" is used in the value determined in the Presidential decree of the Republic of Belarus of March 27, 2008 No. 178 "About procedure for execution of agreements in foreign trade", the terms "foreign banks", "nonresidents", "export" are used in the values determined respectively in subitems 1. 9, 1.10 and 1.15 Items 1 of article 1 of the Law of the Republic of Belarus of July 22, 2003 No. 226-Z "About currency control and currency exchange control".

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