Contract registration with the bank
Registration of a resident's foreign trade contract with its bank under Bank of Russia Instruction No. 181-I: the contract gets a unique number.
Contract registration with the bank: a currency control procedure in which a resident registers its contract with a non-resident at an authorized bank. The procedure is set by Bank of Russia Instruction No. 181-I. It replaced the transaction passport, which was abolished in 2018.
How it works
The resident submits information about the contract to the bank: the parties, amount, currency and performance dates. The bank checks it and assigns the contract a unique contract number (UCN). From then on, the bank keeps a bank control statement under this number, which records payments, receipts and delivery documents.
Not every contract has to be registered. The obligation arises if the contract amount exceeds the threshold set by the instruction. The thresholds differ for imports and exports, and the registration deadlines are tied to the first transaction or the first delivery. Check the exact values in the current version of Instruction No. 181-I or with your bank.
Where it comes up in a payment
Registration lets the bank see the whole deal: how much has been paid, how much of the goods has arrived, and whether the two match. If an agent pays for you, the contract with the supplier remains yours. The bank still expects delivery and settlement documents under it. That is why a payment through an agent needs a package: the agency agreement, the payment order, the payment confirmation and the agent’s report.
What to watch for
- If you change the contract amount or term by a supplementary agreement, notify the bank so that the registration data is updated.
- If you close the deal or move the contract to another bank, the registration is removed or transferred under the rules of the instruction.
- Missing document submission deadlines leads to fines under the Code of Administrative Offenses.
We put together the currency control package for a payment through an agent from our pool. More on the Currency control page.
This is a general overview. We decide on your deal after reviewing the documents.
Request a quote
Describe the payment. We'll reply with a proposed route and terms. We name the agent in advance, and the rate and fee go into the payment order before your roubles are debited.