Natalia Zhuk, the counsel of GRATA International Belarus, and Violetta Liudchyk, junior associate, took part in the webinar “Foreign exchange contract and non-monetary termination of obligations under the FEA contract”

The “Foreign Economic Activity” practice experts of GRATA International, Belarus gave recommendations on contractual work during the webinar held on February 24, 2023. The speakers highlighted the foreign exchange contracts registration aspects on the Belarusian National Bank portal.

Natalia Zhuk, Counsel and Head of “Contract Law” practice covered the following:

• general provisions and procedure of currency transactions;
• recommendations for the wording of the concluded foreign exchange contracts terms (terms of fulfillment of the non-resident's obligations under the contract, amount of monetary obligations, terms of the settlement);
• recommendations on legal support for the execution of foreign exchange contracts.

Violetta Liudchyk clarified when contracts need to be registered on the National Bank portal, in the speaking frame.

She explained the main changes from October 1, 2023, in the procedure of foreign exchange contracts registration, shared the action algorithm, and broke down common mistakes in the registration of contracts on the portal