Agent's report and completion certificate

The agent must report to the principal on how it has performed the agreement. This rule comes from Chapter 52 of the Russian Civil Code. The parties set the procedure and deadlines for reporting in the agency agreement. If the principal has objections to the report, they must be raised within the period set by law or by the agreement. Otherwise the report is deemed accepted.

What is usually included

The agent’s report describes the payment itself:

• the amount in roubles under the principal’s payment order;
• the conversion rate and the amount in foreign currency;
• the date and details of the transfer to the beneficiary;
• the agent’s fee and expenses, such as bank charges;
• supporting documents: transfer confirmation, statements.

The completion certificate records that the agent’s service has been rendered and what it cost. The certificate and the report are often combined into one document.

Why they are needed

For accounting, they are the basis for recording the expenses and the agent’s fee. For currency control, they are proof that the money under the contract reached the supplier. When an importer pays through an agent, its bank statement shows only a rouble transaction under the agency agreement. The report shows how this payment links to the contract and the invoice.

What to watch for

The rate and the amounts in the report must match the payment order. The beneficiary’s details must match the invoice. The payment date matters for the contract deadlines. Get the report and check it right away, not at the end of the quarter.

In a deal through a broker, the agent provides its report and completion certificate, and we put them into the package for your bank together with the agency agreement, the payment order and the payment confirmation. The full list is on the Documents page.