Contract registration with the bank
and currency control
Registering a contract with the bank is mandatory when the foreign trade contract amount reaches the threshold set by Instruction 181-I. We check the contract, prepare documents for the bank and then handle currency control until the contract is deregistered.
Most violations are missed deadlines for prepayment return or import of goods, wrong operation codes and discrepancies between DTs and bank data. All of this is visible in advance with regular reconciliation.
Specification
Specification · Contract registration and currency control. Standard terms · bank requirements for the document package may vary
Service
- Contracts
- import and export, including with China in CNY
- Documents
- bank package, query responses, supporting documents
- Options
- audit of contract currency terms
Terms
- Timing
- registration package in 1–2 days
- Documents
- contract check included
- Currency
- RUB
Process
- Start
- registration before first payment or DT
- Performance
- payments, DTs, statement reconciliation
- Completion
- deregistration
Price
- Base
- per registration
- Extras
- monthly contract support — on request
Service flow
- 01
Contract review
We check whether the contract amount requires registration and review the currency terms: payment and delivery deadlines, prepayment refund, payment currency, supplier bank details.
1 day - 02
Registration
We prepare the bank package; registration must be done before the first payment or the first DT, whichever comes first.
1–2 days - 03
Payment support
We check that payment orders show the UNK and the correct currency operation code, and answer the bank's queries on the payment purpose and economic rationale.
per payment - 04
Statement reconciliation
We reconcile the bank control statement with DTs and payments and explain discrepancies; for deliveries without a DT and for services we submit supporting documents on time.
monthly - 05
Deadlines and deregistration
We track repatriation and prepayment-return deadlines, amend the contract when terms change and deregister it once fulfilled.
until closing
Problems
A prepayment was made but the goods were not imported by the contract deadline — a repatriation breach and a risk of a fine.
We match contract deadlines with the real shipping and transport schedule and, if delayed, sign an amendment extending the deadline in advance.
The bank holds the payment to the supplier and requests documents and explanations on the deal.
We prepare the set in advance — contract, specification, invoice, supplier and delivery scheme data — and answer the request the same day.
DT and payment amounts in the bank control statement do not match because of exchange rates, partial deliveries or UNK errors.
We reconcile the statement monthly and, where needed, adjust the DT or give the bank explanations.
Documents
Documents for contract registration and currency control. The delivery term decides which date counts as performance by the non-resident — which matters for prepayment deadlines.
Incoterms
- EXW / FCA
- delivery at the seller's — allow for transport time in the contract import deadline
- CIF / CFR
- delivery date is loading at origin port, import comes later; factor this in for prepayments
- DAP
- delivery at destination — count the prepayment return deadline from this date
Documents
- Contract
- foreign trade contract with all amendments and specifications
- Party details
- non-resident details, country, beneficiary bank
- DT
- goods declarations under the contract — the bank receives their data from the FTS
- Supporting documents
- acts, invoices, delivery notes — where no DT is filed (EAEU, services)
- Payment documents
- payment orders with the UNK and currency operation code
FAQ
The thresholds are set by Bank of Russia Instruction No. 181-I and differ for import and export: currently RUB 3 million equivalent for import and RUB 10 million for export contracts. They change from time to time, so we check them on the contract date.
The UNK is the unique contract number assigned by the bank at registration. It is quoted in payment documents and in the goods declaration, and the bank and customs use it to link payments with deliveries.
Under Law 173-FZ it is the resident's duty to receive export proceeds, or get a prepayment back if imported goods are not delivered, within the contract deadlines. Breaches are fined, so contract deadlines should match the real delivery schedule.
Administrative liability under Article 15.25 of the Code of Administrative Offences: fixed fines for breaching registration and reporting rules, and fines as a share of the amount for non-repatriation. The bank may also hold payments and request explanations.
Yes, the contract currency does not matter — what counts is the amount of obligations in rouble equivalent. If it reaches the threshold, the contract is registered before the first payment or the first DT.
After all obligations are fulfilled, on transfer to another bank, on assignment of claims or on other grounds in Instruction 181-I. Before deregistration the bank control statement must be reconciled.