Scientific journal NRU ITMO
Series "Economics and Environmental Management"
Registration certificate ЭЛ № ФС 77 – 55411 от 17.09.2013
registered by the Federal Inspectorate Service for Communication, Information Technologies and Communication Media

2014 (published: 15.09.2014)

Number 3(18)

Home > Issue > Analysis of Essence and Prospects of Forms of Settlements in Domestic and Foreign Economy between Business Entities

UDC 336.77

Analysis of Essence and Prospects of Forms of Settlements in Domestic and Foreign Economy between Business Entities

Vitsko E.A.

This article gives the study of forms of settlements between business entities in Russia and abroad. It specifies the role and the essence of each form of settlements, as well as their relationship with commercial credits. The comparative analysis of the points of view of national and foreign economists and the legal frameworks shows that the essence of the forms of payment studied is not described in all details, therefore substantiation for the essence of these forms is needed for their efficient use in the economy and business. The author concludes that the forms of payment studied are not directly related to the commercial credit, but in view of contemporary realities they directly contribute to the development and the strengthening of relationship between entities. The article shows regularities and specific features of the Russian bill market, and reasons preventing the use of commercial credits in the domestic economy are mentioned in it as well. Considering that the Central Bank is the main authority responsible for regulation and monitoring of money circulation in the country, we propose the to refer regulation and control over the issuance and circulation of promissory notes to the competence of the Bank of Russia. Furthermore, the author gives recommendations for the improvement of Russian legislation and the statistical database for the purpose of the expansion of the use of commercial credits.
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Keywords: commercial credit, commercial bill, bank credit, banking bill, accounting operations, traditional form of credit granting, open account credits, discount credits (cash discount), consignment, seasonal credits.

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