When determining the terms of payment, the contract usually establishes: the currency of payment, the payment term, the method of payment and the form of settlement, as well as reservations for reducing or eliminating currency risk. At the conclusion of the contract of sale, it is established in which currency the payment for the goods […]
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Types and structure of the currency system
The currency system is a combination of two elements – the currency mechanism and foreign exchange relations. The currency system can be considered from an economic and organizational and legal point of view: From an economic point of view, this is a combination of monetary and economic relations that have historically developed on the basis […]
The procedure and terms for presenting a check for payment
The check belongs to the category of negotiable documents, i.e. for transferring rights on a check to another person, there is no need to resort to the procedure provided for by civil law – the cession. All rights under it can be transferred to another person by means of a transfer inscription – an endorsement […]