On the Ratification of the Agreement on the Rules for the Issuance, Circulation and Repayment of Warehouse Certificates for Agricultural Products within the Framework of the Eurasian Economic Union
The Law of the Republic of Kazakhstan dated December 6, 2024 No. 142-VIII SAM.
To ratify the Agreement on the Rules for the Issuance, Circulation and Repayment of Warehouse Certificates for Agricultural Products within the Framework of the Eurasian Economic Union, concluded in Moscow on July 31, 2023.
President
Republic of Kazakhstan
K. TOKAEV
AGREEMENT on the rules for the issuance, circulation and repayment of warehouse Certificates for agricultural products within the framework of the Eurasian Economic Union
The Member States of the Eurasian Economic Union, hereinafter referred to as the Member States,
based on the Treaty on the Eurasian Economic Union of May 29, 2014,
sharing the desire to ensure transparency in the functioning of the agricultural products market,
Based on the interest of the Member States in expanding the practice of using warehouse certificates for agricultural products within the framework of the Eurasian Economic Union (hereinafter referred to as the Union) and in ensuring their sustainable circulation, as well as the availability of financial resources for holders of warehouse certificates,
respecting the principles of mutual respect, equality and openness,
have agreed on the following:
Article 1
For the purposes of this Agreement, concepts are used that mean the following::
"holder of a warehouse certificate" is a legal entity or individual who carries out business activities in accordance with the legislation of a member State and has the right to dispose of agricultural products stored in a warehouse in the quantity and quality specified in the warehouse certificate.;
"mortgagee" is a legal entity or individual who has the right to demand fulfillment of obligations secured by a pledge of agricultural products.;
"register of warehouse certificates" is an information resource of a Member State containing information about issued (issued) warehouse certificates, including transactions with warehouse certificates (including their repayment), restrictions (including their nature) on the circulation of warehouse certificates or on the exercise of rights under them, as well as information about holders warehouse certificates and mortgagees;
"warehouse" is a legal entity of a Member State that, in accordance with the legislation of the Member State, carries out the storage of goods and the provision of services for the storage of agricultural products as a business activity.;
"warehouse certificate" is a non-documentary, non-emissive security certifying the right of its holder to receive agricultural products from a warehouse in the quantity and quality determined upon the issue (issuance) of this paper, and granting the right to demand fulfillment of obligations secured by a pledge.
Other concepts used in this Agreement are understood in the meanings defined by the Treaty on the Eurasian Economic Union of May 29, 2014 and international treaties within the Union.
Article 2
1. This Agreement regulates the legal relations related to the issue (issuance), circulation and repayment of warehouse certificates within the Union, and defines the requirements for warehouse certificates.
2. The issuance (issuance), circulation and repayment of warehouse certificates within the Union shall be carried out in accordance with the legislation of the Member States, taking into account the provisions of this Agreement.
3. The circulation of warehouse certificates is carried out on the stock exchange and (or) the over-the-counter market in accordance with the legislation of the Member State.
4. The types of agricultural products for which warehouse certificates are issued (issued) are determined by the legislation of the Member State.
5. Warehouse certificates issued (issued) in the Member States, included in the registers of warehouse certificates and complying with the requirements of this Agreement, are mutually recognized by the Member States.
Article 3
1. In order to confirm the acceptance of agricultural products of a certain quantity and quality for storage, the warehouse issues (issues) a warehouse certificate issued in Russian and the official language (official languages) of the Member State (if this is provided for by the legislation of the member State).
2. The warehouse certificate contains the following mandatory information (details):
a) the number and date of issue of the warehouse certificate;
b) the name of the warehouse that accepted agricultural products for storage, its location and the number identifying the person as a taxpayer of the Member State;
c) the name of the holder of the warehouse certificate who deposited agricultural products, his location - for a legal entity, surname, first name, patronymic (if any), place of residence - for an individual, number identifying the person as a taxpayer of the member state (if any);
d) the type of agricultural products accepted for storage, their quantitative and qualitative characteristics;
e) the period for which the agricultural products have been accepted for storage, if such a period is established in accordance with the legislation of the Member State, or an indication that the products have been accepted for storage on demand.;
f) details of the permit for the provision of services for the storage of agricultural products with the release (issuance) warehouse certificates or a document confirming the inclusion of information about the warehouse in the register of warehouses of the Member State issuing (issuing) warehouse certificates (hereinafter referred to as the warehouse register);
g) the amount of remuneration for the storage of agricultural products (tariffs on the basis of which it is calculated) and the procedure for payment for the storage of these products or the date before which payment for storage services was made;
h) information on the procedure for ensuring the fulfillment of obligations under the warehouse certificate.
Article 4
1. Information about the issued (issued) warehouse certificate is entered in the register of warehouse certificates.
2. In case of transfer of rights under a warehouse certificate, a corresponding entry is made in the register of warehouse certificates.
3. The register of warehouse certificates contains the information provided for in paragraph 2 of Article 3 of this Agreement, as well as the following information::
a) the name, location of the pledgee, and the number identifying him as a taxpayer of the Member State (in case of pledge of agricultural products);
b) on the transfer of rights under the warehouse certificate;
c) on the cancellation of the warehouse certificate;
d) on the limitation of rights under the warehouse certificate.
4. The procedure for the formation and maintenance of the register of warehouse certificates is determined by the legislation of the Member State, taking into account the provisions of this Article.
5. Accounting of rights based on warehouse certificates may be carried out with the involvement of organizations determined in accordance with the legislation of the Member State.
Article 5
1. A warehouse shall operate on the territory of a Member State and comply with the rules for the storage of agricultural products and the requirements for quantitative and qualitative accounting of agricultural products established in accordance with the legislation of the Member State.
The warehouse releases (issues) warehouse certificates from the date of issue, in accordance with the procedure established by the legislation of the Member State, of a permit for the provision of services for the storage of agricultural products with the release (issuance) warehouse certificates or from the date of inclusion of information about it in the register of warehouses in accordance with the procedure established by the legislation of the Member State.
2. The warehouse register contains the following information:
a) about the type of agricultural products that the warehouse specializes in storing;
b) the name, type, capacity, available storage volume, location of the warehouse and the place of storage of agricultural products;
c) the document confirming the registration of the warehouse in the register of warehouses, issued in accordance with the legislation of the Member State;
d) other information in accordance with the legislation of the Member State.
Article 6
1. Agricultural products accepted for storage under a warehouse certificate may, during the period of its storage, be the subject of a pledge, which is formalized by entering information on the restriction of rights under a warehouse certificate in the register of warehouse certificates.
2. If there is information about the pledge of a warehouse certificate contained in the register of warehouse certificates, the holder of the warehouse certificate may not take agricultural products from the warehouse until the obligations secured by the pledge are repaid.
3. A warehouse issues agricultural products to the holder of a warehouse certificate in the absence of information on restrictions on the exercise of rights under it in the register of warehouse certificates.
4. A warehouse that has issued agricultural products contrary to the requirements of paragraph 3 of this article to the holder of a warehouse certificate, in respect of which a pledge entry is contained in the register of warehouse certificates, shall be liable to the pledgee for repayment of obligations secured by the pledge of the warehouse certificate.
5. The holder of a warehouse certificate, which is not burdened with restrictions on the exercise of rights under it, has the right to demand the issuance of agricultural products in parts. At the same time, in exchange for the initial warehouse certificate, a new warehouse certificate is issued (issued) for agricultural products remaining in the warehouse.
Article 7
The relationship between the warehouse and the owner of agricultural products is formalized by concluding a public storage agreement. The standard form of a public storage agreement is determined by the legislation of a member State, taking into account the inclusion of the following mandatory information in it:
on the quantity and characteristics of agricultural products transferred for storage, as well as the quality indicators of agricultural products necessary to ensure their safety;
on the obligations of the warehouse to issue (issue) a warehouse certificate for a batch of agricultural products of uniform quality accepted for storage, within the time period established by the legislation of the Member State, to ensure the safety of agricultural products accepted for storage in the quantity and quality specified in the warehouse certificate, as well as to insure its civil liability under a public storage agreement and (or) become a participant in the fund (funds) for guaranteeing the fulfillment of obligations under warehouse certificates.
Article 8
The Member State ensures the placement in the information and telecommunication network "Internet" in accordance with the procedure established by the legislation of the Member State.:
an online resource providing a single point of access to information from the register of warehouse certificates of a Member State;
information about organizations that carry out safety and quality expertise of agricultural products (name, location, and number identifying the person as a taxpayer of the Member State);
legislative and other regulatory legal acts regulating the circulation of warehouse certificates in the Member State, the procedure for the formation and maintenance of the register of warehouse certificates, as well as drafts of such acts;
information on the procedure and conditions for ensuring the fulfillment of obligations under warehouse certificates;
a standard form of a public storage agreement between a warehouse and the owner of agricultural products;
the list of warehouses that have been granted permits for the provision of services for the storage of agricultural products with the release (issue) warehouse certificates or which are included in the register of warehouses.
Article 9
1. Ensuring that warehouses fulfill their obligations under warehouse certificates is carried out in accordance with the legislation of the Member State and provides for a set of organizational and legal measures aimed at protecting the rights and legitimate interests of holders of warehouse certificates from non-fulfillment by warehouses of obligations under warehouse certificates issued (issued) by them., including through the formation of a fund (funds) in the member States to guarantee the fulfillment of obligations under warehouse certificates or insurance of civil liability of warehouses to holders of warehouse certificates.
2. The requirements for the system for ensuring the fulfillment of obligations under warehouse certificates established in the member States are determined by the Council of the Eurasian Economic Commission on the basis of proposals from the member States.
3. The Member State shall ensure on its territory, in accordance with the legislation of the Member State, control over the observance by warehouses of the rules for the issue (issuance) and repayment of warehouse certificates, rules for the storage of agricultural products, safety requirements and requirements for quantitative and qualitative accounting of agricultural products.
4. The Member State shall ensure that an expert examination of the quality of agricultural products for which warehouse certificates are issued (issued) in the territory of the Member State.
Article 10
Reservations to this Agreement are not allowed.
Article 11
Disputes related to the interpretation and/or application of this Agreement are resolved in accordance with the provisions of the Treaty on the Eurasian Economic Union of May 29, 2014.
Article 12
This Agreement is an international agreement concluded within the framework of the Union and is included in the law of the Union.
Article 13
By mutual agreement of the Member States, amendments may be made to this Agreement, which are formalized in separate protocols and are an integral part of this Agreement.
Article 14
This Agreement shall enter into force upon the expiration of 30 calendar days from the date of receipt through diplomatic channels of the last written notification on the completion by the Member States of the internal procedures necessary for the entry into force of this Agreement, but not earlier than June 1, 2026.
Done in Moscow on July 31, 2023, in one original copy in the Russian language.
The original copy of this Agreement shall be kept in the Eurasian Economic Commission, which, as the depositary of this Agreement, will send each member State a certified copy thereof.
For the Republic
Armenia
For the Republic
Belarus
For the Republic
Kazakhstan
For Kyrgyz
The Republic
For the Russian
The Federation
I hereby certify that this text is a complete and authentic copy of the Agreement on the Rules for the Issuance, Circulation and Repayment of Warehouse Certificates for Agricultural Products within the Framework of the Eurasian Economic Union, signed on July 31, 2023 in Moscow.:
for the Government of the Republic of Armenia - Prime Minister of the Republic of Armenia Nikol Pashinyan;
for the Government of the Republic of Belarus - the Prime Minister of the Republic of Belarus R.A. Golovchenko;
for the Government of the Republic of Kazakhstan - by the Prime Minister of the Republic of Kazakhstan A. A. Smailov;
for the Cabinet of Ministers of the Kyrgyz Republic - Chairman of the Cabinet of Ministers of the Kyrgyz Republic - Head of the Presidential Administration of the Kyrgyz Republic A.U. Japarov;
for the Government of the Russian Federation - Chairman of the Government of the Russian Federation M.V. Mishustin.
The original copy is kept at the Eurasian Economic Commission.
Associate Director
Legal Department
Of the Eurasian Economic Commission
A.D. Avdeev
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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