Denomination agreement

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Let us remind you that the Decree of the President of the Republic of Belarus dated 04.11.2015 No. 450 "On the denomination of the official monetary unit of the Republic of Belarus" was adopted. The specified document entered into force on 07.11.2015. 

So, in accordance with Decree No. 450, in order to improve monetary circulation in the Republic of Belarus, from July 1, 2016, the official currency of the Republic of Belarus was denominated and until December 31, 2016, the circulating banknotes of the 2000 model in the form of banknotes are to be replaced with banknotes. sample of 2009 in the form of banknotes and coins in the ratio of 10 Belarusian rubles in banknotes of the 000 sample to 2000 Belarusian ruble in banknotes of the 1 sample. 

To put it simply, now we have two types of Belarusian rubles in parallel circulation from July 1 to December 31, 2016:

  • old non-denominated rubles, sample of 2000 (BYR);
  • rubles new denominated sample of 2009 (BYN).

The relationship between them is as follows:

1 white ruble of the sample of 2009 BYN = 10 Belarusian rubles. rubles of the sample of 000 BYR.

1 BYN = 100 kopecks 

Taking into account the fact that contracts concluded before July 1, 2016 contained indications of prices (cost), tariffs in old Bel. rubles BYR, then the question arises: Is it necessary to make changes to such agreements taking into account the denomination and convert the values ​​expressed in the agreement in BYR into new BYN rubles? 

Answer: it is not necessary to make changes to agreements concluded before July 1, 2016 specifically in connection with the denomination, since amounts in BYR are automatically transferred to BYN in accordance with the law. 

After July 1, 2016, the amount expressed in BYR will still have to be paid in new BYN rubles (BYR is transferred to BYN automatically, since after July 1, 2016, all non-cash payments between business entities must still be made in new currency BYN).

All contracts that are concluded after July 1, 2016 must operate with amounts in BYN (for convenience, you can additionally indicate how much it will be in BYR). If an agreement is concluded between July 1, 2016 and December 31, 2016 with a consumer, we recommend that you indicate the amounts in BYR and in BYN at the same time. 

Example: “The price of equipment under the contract is 10 Belarusian rubles. rubles BYR or 000 BYR BYN rubles (000 rubles 1 kopecks) ". 

However, for convenience, you can make changes to previously concluded agreements by correcting the amounts in BYR by amounts in BYN. To do this, you must sign an additional agreement to the contract. An additional agreement to the agreement is made in the same form as the agreement (we recommend to conclude an additional agreement to the agreement in writing). This can be done both specifically for adjustments of amounts in connection with the denomination, and at the first, not related to denomination, adjustment of the agreement. 

We recommend specifying new prices (tariffs) in the following formats:

“12 rubles 05 kopecks” (you can also specify “12 rubles 5 kopecks”, but at the subconscious level it is “12 rubles 05 kopecks” that are better perceived);

"12,05 rubles" (kopecks from rubles can be separated by either a comma or a period);

“12,20 rubles” (we do not recommend writing “12,2 rubles”, because in practice, due to the peculiarities of human perception, it is often forgotten that “0,2” is 20 kopecks, not 2 kopecks);

"12,00 rubles" (you can also specify without kopecks: "12 rubles"). 

Conclusion: 

  • In connection with the denomination, the existing obligations of the parties under civil law contracts and their size do not essentially change. Their nominal size changes (there is no change in the real amount of the obligation) due to the fact that 1 BYN = 10000 BYR (for example, a table with a price of 100 BYR in the old way will cost 000 BYN in a new way).
  • It is not necessary to make an adjustment to the par value (read, transfer from BYR to BYN) to an agreement concluded before July 1, 2016.
  • But this can be done for convenience by concluding an additional agreement to the existing agreement concluded before July 1, 2016, in which the old prices, tariffs, other values ​​expressed in BYR are indicated in a new way in BYN.
  • When concluding contracts from July 1 to December 31, 2016 with consumers (i.e. individuals), we recommend that prices, tariffs, and other values ​​be indicated both in old BYR rubles and in new BYN rubles.
Documents in the program
Related instructions
  • Contract extension

    Here is a description of a sample of an additional agreement on the extension of the contract, presented on our website in the Borius program

  • Termination of the contract / agreement

    Here is a sample supplementary agreement to terminate an agreement, agreement or contract available in our Borius software.