Concept and types of transactions

In this article we will cover the concept and types of transactions, in particular, we will talk about the general concept with subsequent graduation on types of transactions in foreign economic activities and types of transactions on the stock exchange.

Let's start by deciphering what is meant by the wording "concept and types of transactions".

The general concept and types of transactions are regulated by the Civil Code. According to which, the transaction recognized the actions of subjects of law, which are aimed at acquiring, terminating or changing civil obligations and rights.

Here it is formulated not only the concept, and types of transactions. Single-sided and multilateral types of transactions are singled out, in accordance with the Civil Code.

Russian legislation does not contain a specific definition of a foreign trade transaction. In accordance with the Russian doctrine and practice, foreign transactions include transactions that have the following characteristics:

1) subjects (persons) of different nationality take part in the transaction;

2) a specific circle of relations is outlined, in which spheres such transactions are concluded, for example, operations on import-export of services, goods, etc.

The external economic transaction is a contract of work, a barter, a contract for the provision of services aimed at providing technical assistance in the construction of industrial facilities, a contract for foreign trade or purchase.

Let's list the types of transactions in foreign economic activities related to sales contracts.

Single delivery agreement, implying a one-time agreement providing for the delivery of a certain quantity of a specific product to a specified date or a specified period of time, a period. Delivery of goods can be made as one, or several times within the established term. As soon as the commitments are accepted, the contract, and, consequently, the legal relations of the parties, cease. Single contracts can have short and long delivery times.

The contract with periodic supply provides for the periodic (regular) delivery of a specific quantity or lots of goods within the period specified in the terms of the contract. Short-term contracts are usually for one year, and long-term contracts can be concluded for 5, 10 or more years.

Contracts for the supply of equipment in sets, provide for the relationship between the buyer-importer and the exporter of equipment, and the specialized forms that are involved in completing this delivery. Under this contract, the general supplier is responsible for the organization and responsibility for the equipment, as well as for the quality and timeliness of the delivery.

Contracts are distinguished by the form of payment for the goods. Payment can be made in whole or in part in monetary and in commodity form. Agreements with a monetary form of payment provide for settlements in a specific currency agreed by the parties. At the same time, the contract stipulates the methods of payment: credit, advance payment, cash payment, and forms of payment : letter of credit, collection, bill of exchange, check.

In modern conditions, contracts with a mixed form of payment are often concluded, for example, during construction under the conditions of purposeful lending to a particular turnkey enterprise, costs are paid in part in commodity and partly in cash.

Barter transactions, concluded on the basis of commodity exchange and compensation agreements, providing for the exchange of agreed quantities of goods, are often used.

The compensation agreement provides for the delivery of goods by each party at the same cost. But, in such a transaction, as a rule, there are not two, but more goods for exchange.

Types of transactions on the stock exchange: cash and urgent. At the same time, these types of transactions on the stock exchange, in turn, can still be differentiated.