trading transactions in which the buyer negotiates, enters into an agreement with the seller on the counter, reciprocal sale of his goods after a certain, sometimes long period of time. Such purchases are most often used in international trade and help achieve a balance between exports and imports. Payments for counter purchases can be made at the expense of own funds, on the basis of a loan or in the form of offset.

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Counterpurchases

A type of countervailing trade in which the exporter agrees to purchase or procure the purchase by some other firm of the importer's goods, the value of which is a certain percentage of the value of the exporter's goods. When counterpurchasing, two contracts are signed: one for export, the second for counterpurchase. The contracts do not specify specific goods supplied as part of counter deliveries, but only the delivery dates and amounts are fixed. Payments under these contracts are made independently of each other.

With the seller about the counter, reciprocal sale of their goods after a certain, sometimes quite long period of time. Such purchases are most often used in international trade and help achieve a balance between exports and imports. They provide for countermeasures to the exporter for the purchase of commodity mass from the importer within the limits of the cost of export (for example, in the amount of a certain percentage of the amount of the contract for the supply of goods). V.z. are carried out on the basis of obligations accepted by the exporter as a condition for the sale of his goods to the country of import in order to reimburse the costs of paying for imports in the event of a lack of foreign currency funds. Calculations according to V.Z. can be made at your own expense, on a loan basis or in the form of offset. V.z. provides for the conclusion of two legally independent, but actually interdependent purchase and sale transactions. In its entirety, it is conventionally divided into two parts: the conclusion of a primary contract, which provides for the seller to make a counterpurchase from the buyer, and the contract itself with all the ensuing obligations. Thus, V.z. formalized by two or three contracts of foreign economic activity.

Economics and law: dictionary-reference book. - M.: University and school. L. P. Kurakov, V. L. Kurakov, A. L. Kurakov. 2004 .

See what “COUNTER PURCHASE” is in other dictionaries:

Counter purchase; Turn in buying is a form of countertrade that provides for reciprocal obligations of the exporter to purchase commodity mass from the importer within the limits of the export cost. A counter-purchase involves the conclusion of two legally... ... Dictionary of business terms

COUNTER PURCHASE- a form of countertrade, a trading operation in which the buyer enters into an agreement with the seller for the counter, reciprocal sale of their goods after a certain, sometimes quite long period of time. Such purchases are used more often... ... Legal encyclopedia

COUNTER PURCHASE- (counterpurcha e) a transaction under which the seller supplies the buyer with goods on normal commercial terms and at the same time undertakes the obligation to purchase goods from him in the amount of a certain percentage of the amount of the main contract.… … Foreign economic explanatory dictionary

Counterpurchase- a transaction in which the seller undertakes to buy or ensure the purchase by a third party of goods for the amount agreed in the contract (usually part of the transaction amount). Unlike barter and compensation transactions, in this case two... ... A brief dictionary of basic forestry and economic terms

counter purchase of goods- A type of barter transaction, since it does not provide for direct settlements between its participants in cash. However, such a transaction does not provide for direct exchange. In the case of a transaction with a foreign partner, he undertakes... ... Technical Translator's Guide

COUNTER PURCHASE- COUNTER PURCHASE… Legal encyclopedia

- (see COUNTER PURCHASE) ...

PURCHASE OF GOODS, COUNTER- a type of barter transaction, since it does not provide for direct settlements between its participants in cash. However, such a transaction does not provide for direct exchange. In the case of a transaction with a foreign partner, he undertakes... ... Great Accounting Dictionary

COUNTER TRADE Legal encyclopedia

Form of foreign trade; foreign trade transactions, contracts, transactions providing for reciprocal obligations of exporters to purchase goods from importers for the full cost or part of the cost of exports (barter transactions, counter purchases);... ... Encyclopedic Dictionary of Economics and Law

Counter, parallel or advance purchases are understood as commercial transactions executed through several interrelated international sales contracts, providing for counter obligations of the exporter to purchase from the importer a batch of goods equivalent in value to its export supply (or in the amount of a certain share of this supply) . In this case, the conclusion of two or more de jure independent, but de facto related sales contracts is provided, the main content of which, despite the presence of commodity interdependence of the related contracts, consists of the obligation of each party to pay cash for the supplies received.

The procedure for a typical counterpurchase transaction usually consists of two parts:

1. conclusion of a contract providing for the exporter’s obligation to make a counterpurchase from the importer;

2. conclusion of the main, or primary, export contract.

Sometimes the parties, “to be on the safe side,” sign a third (basic or framework) contract (counterpurchase agreement), which is a contract containing formal obligations to specify the timing and scope of implementation of both components of this transaction.

Among transactions with counterpurchases, based on the correlation of the delivery time of the parties, the following can be distinguished:

Parallel transactions;

Transactions with advance purchase;

Gentlemen's agreements.

Parallel transactions involve the simultaneous signing of two separate contracts: one for the original export, the second for the counterpurchase. The procedure for developing such transactions has the following features:

Two international sales contracts are negotiated and legally signed at the same time, but are executed separately.

Contracts contain paragraphs on sanctions/fines for the exporter/importer for complete or partial non-compliance;

The execution of the contract, by agreement of the parties, can be transferred to a third party while maintaining responsibility for its execution on the exporter;

The costs that arise during the sale of the compensatory goods supplied to the exporter under this counterpurchase scheme must be included in the full cost of the goods supplied under the second contract.

Advance purchase transactions, in turn, are parallel transactions in which the development over time occurs in the reverse order compared to parallel transactions. In fact, the exporter purchases the goods he needs (or is guaranteed to be liquid) from the importer, and only then carries out the export delivery.

The gentlemen's agreement, which may have various indications of the timing of the execution of the main export contract and the counterpurchase, does not contain an enforceable obligation for the exporter to counterpurchase, although it is assumed that he agrees to purchase goods from the importer in an unspecified quantity. These types of transactions occur between firms in developed countries, and they are usually associated with government procurement programs for military equipment, aircraft, equipment for the production of nuclear fuel (enriched uranium) and nuclear power plants. Here, “gentlemanship” clearly reveals national and bloc politics and the real balance of power in the geopolitical arena regarding the participants in the gentleman’s agreement, providing the latter with real guarantees of appropriate execution.

So, any counter-purchase agreements require a counter-delivery of goods within a specified period, carried out on the basis of a complicated, through the “Special Conditions” clause of the international sales contract, or the specified contract and the counter-purchase or advance purchase agreements attached to it. Counterpurchasing is considered one of the most popular forms of countertrade.

Advance purchase is also known in international trade practice under other names: “advance compensation”, “tied advance purchase”, “junktim” transaction.

It is clear that “physically” the negotiation and signing of parallel contracts can occur at different times and in different places, however, the condition for the contracts to come into effect and cross-references to the relevant articles/paragraphs of both contracts ensure their “legal simultaneity”;

Countertrade refers to purchase and sale transactions in which a single document signed by the parties provides for mutual obligations of the parties either to conduct a non-monetary exchange of goods of equal value, or to accept partly cash and partly goods as payment for goods supplied by one of the parties. The second option characterizes the most general feature of countertrade, the first is its special case, called barter.

Countertrade is the oldest form of national and international trade, which flourished before the advent of money, which became the universal equivalent of exchange. Therefore, with the development of money circulation, countertrade largely lost its meaning, but in the second half of the 20th century. its use has expanded again for the following main reasons:

The uneven economic development of countries and entire economic regions does not allow developing countries to have sufficient foreign exchange funds for payments;

The aggravation of the problem of selling goods forces sellers, in order to increase the competitiveness of their goods and increase sales volumes, to offer them with full or partial payment by buyers by counter deliveries of goods;

Unsuccessful implementation of economic reforms, as, for example, in Russia, causes an economic crisis, accompanied by a crisis of non-payments, which forces entrepreneurs to return to the counter exchange of goods and limiting payments in money.

The main incentive for the development of countertrade in economically developed countries and between them is the aggravation of sales problems due to the oversaturation of markets with goods, which encourages sellers to artificially increase the competitiveness of their goods, meeting the desire of buyers to pay for their goods or even initiating such payments.

As counterpayments, sellers generally accept goods they need in their own production. For example, paint manufacturers sell their paints for payment partly in cash and partly in the supply of cans for packaging the paints, and the can manufacturers, in turn, receive paints for labeling and advertising. However, in a number of cases, the exchange of mutually necessary goods turns out to be insufficient for settlements or for the desired expansion of sales, and sellers counter-purchase goods in excess quantities or purchase goods that are completely unnecessary for them in production. In the 80s this practice turned into a trend that stimulated the formation of intermediary firms specializing in the sale of unwanted goods obtained during the implementation of counter transactions. Such intermediaries are looking for the opportunity to sell goods on the market of the country of the main seller, who has received the goods he does not need, or on the markets of third countries, receiving remuneration for their services.

The development of countertrade attracted banking capital to this area. Since it is very rare that counter deliveries of goods are carried out by the parties simultaneously, the party that supplies the goods first credits the other party. With various types of countertrade, such a period between counter deliveries can reach several months or even years. Banks provide countertrade participants with all types of loans: from short-term to long-term. In addition, banks act as guarantors of the parties’ fulfillment of obligations regarding counter deliveries and payment for goods delivered. Many banks offer services for working with “escrow” accounts, in which funds credited as payment for goods delivered are blocked until the opposite party fulfills its counter obligations.

Let's consider several possible options for foreign trade operations using the principles of countertrade.

Option 1. Firm A, let's call it the “main exporter,” entered into a sales contract with firm B, the main importer, and it does not matter which of the firms initiated the counter-obligations. In the sales contract, the parties indicated that the main importer would pay, for example, one half of the cost of the delivered goods in money, and the other half by supplying a certain product in a specified quantity at an agreed price. Thus, the main exporter assumed in the contract a very specific obligation to accept a certain product from the main importer as partial payment for the goods supplied by him.

To be sure of receiving payments for the goods delivered, the main exporter (firm A) may insist that the main importer (firm B) provide financial guarantees for the fulfillment of counter-obligations. These can be bank guarantees, standby letters of credit.

However, as practice shows, often the main importer, due to lack of funds, cannot simultaneously provide financial guarantees for the counter-delivery of goods along with payment of 50% of the total contract amount. In such cases, the parties can agree that the main importer will counter-supply the goods in advance, but against the main exporter’s bank guarantee for their value. This option for counterpurchasing has become quite widespread in domestic Russian trade, but underestimating the use of mutual guarantees often leads to unjustified losses for the parties.

Option 2. The main exporter and the main importer in the purchase and sale contract signed between them provide for the obligation of the main importer to pay, for example, 70% of the total contract amount in money, and for the remaining 30% to conclude an additional contract for the counter supply of goods within the established time frame, i.e. . become a counter exporter. Since the conclusion of a counter contract depends on both parties, they should consider the following recommendations to protect their interests:

To oblige the main importer to enter into a counter contract, the exporter must stipulate in the main contract that if the main importer, through his own fault, does not conclude a counter contract within the established time frame, then he will be obliged to pay the main exporter the remaining amount of the main contract. In addition, the main exporter may reserve the right to recover from the main importer damages caused by delay in fulfilling counter obligations.

To avoid possible accusations from the main importer that he offered the main exporter a counter-supply of goods he did not need or deliver at unacceptable prices, one should strive to stipulate in the main contract a list of goods acceptable for counter-supply, their main characteristics, prices or methods for determining them.

Option 3. The main exporter and the main importer in the sales contract concluded between them stipulate that the main importer will pay the full cost against the documents confirming the delivery of the goods, and the main exporter undertakes to buy counter goods for the entire or part of the amount of the main export contract.

Under this option, the main importer must ensure the protection of its interests by requiring the main exporter to provide, along with the documents against which payment is made, an irrevocable financial guarantee that it will fulfill its obligations to counterpurchase goods for the amount specified in the main contract. The amount of such a guarantee does not have to be equal to the amount of counter-obligations of the main exporter. Experience shows that 30% of the amount of counter-obligations is sufficient, but not less than 20% of the total amount of the main export contract, since with a lower value the main exporter may sacrifice the guarantee and not fulfill the obligations under counter-purchases.

Option 4. In a single document, usually in the form of a framework agreement, the main exporter undertakes to supply technological equipment of the industrial complex under separate contracts on the terms of a commercial loan, and also to counter-purchase at current market prices the products produced by this complex in repayment of the loan provided. At the same time, the parties agree on a payment schedule that the main importer must follow when planning production and allocating such a share of finished products that, taking into account the current price level, would ensure the fulfillment of counter obligations to repay the commercial loan. The agreement usually provides that counter-purchases will be carried out under separate contracts by counter-importers authorized by the main exporter.

Fulfillment of obligations to repay a commercial loan provided by the main exporter is usually guaranteed by reputable banks or, in especially large transactions, by the state. Such agreements are called compensation agreements.

General features. With all the options, there are often cases when the main importer does not have goods that could interest the main exporter for counterpurchase.

In these cases, the main importer may, in the main contract (or agreement), reserve the right to supply or offer for counter-supply goods from another manufacturer or seller. Moreover, under options 2, 3 and 4, he can stipulate the condition that counter contracts can be concluded with the main exporter directly by another manufacturer or seller of the goods, i.e. third party. Then the main exporter becomes a counter-importer, and the third party becomes a counter-exporter.

In these cases, the primary importer signs an intermediary agreement with the third party and acts as a representative or attorney, receiving an appropriate fee for his services.

With options 2 and 3, a situation may arise when the main importer himself does not produce the products needed by the main exporter, cannot find such products on the market and is forced to offer the main exporter products that are unnecessary for him. Then the main importer must take into account the following circumstances:

1. If the main exporter (A) agrees to purchase a product he does not need, it should be expected that in a balanced trade he will raise the price of his product to compensate for the costs that he will incur to pay the intermediary (D) for selling the unnecessary product.

According to a study carried out in 1986 by the United Nations Economic Commission for Europe (UNECE), the increase in prices for goods supplied under main export contracts, which provide for counter obligations for the purchase of goods unnecessary to exporters, depends on the ratio of the volume of counter obligations to the total amounts of the main export contracts . The change in prices (M) in relation to their normal level depends on the ratio of the volumes of counter obligations to the total amounts of the main export contracts (TV). According to UNECE, this relationship is as follows:

UNECE studies have shown that, despite such a significant increase in export prices, such transactions are in most cases profitable for the main importer, since counter-exports are usually goods that are poorly sold on the market, the independent sale of which would require much greater costs from their sellers.

The main exporter A may include in the obligation a condition that the counterpurchase will be made not by himself, but by another company D, which is either interested in purchasing such goods, or is engaged by the main exporter as an intermediary for the sale of goods it does not need.

If the counter-obligation contains a product that is manufactured (or sold) not by the main importer, but by a third company C, then the counter-obligation can be fulfilled without the participation of the main exporter and the main importer. With this option, it should be stipulated that the condition for the fulfillment of the counter-obligation by the main exporter A will be documents confirming the supply by company C of goods in the amount of the counter-obligation.

The main importer will pay firm C for the delivery either in money or with his products, but in an amount reduced by compensation for the increase in prices under the main contract and by his remuneration for assistance in selling the goods.

These are the basic conditions for carrying out countertrade operations on a civilized market. Russian entrepreneurs, when conducting foreign trade transactions with partners from foreign countries and CIS countries, as well as in domestic trade, must use those principles that can be applied in the difficult conditions of the modern Russian economy with the greatest benefit for the parties. In any case, some of the principles outlined may help to partially solve the problem of non-payments.