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Use of facsimile signature in financial and commercial activities. Part 2

  • Author: Volodymyr Gurlov
  • Practice areas: Contract law
  • Date of publication: 23/10/14

This article is the second part of the series on the procedure of using a facsimile. Previously we had already examined general matters of this procedure.

The most problematic is situation when facsimile is used for signing prior and financial documentation. It is really important because specificity of drafting of these documents influences the size of object of taxation and regulates the process of getting and spending of money.

Definition “prior documents” is defined in the Principles of documental providing of records in accounting which approved by the Order of the Ministry of Finances of Ukraine dated the 24th of May 1995 no. 88. According to the Article 2.1 of these Principles, prior documents are written or digital documents  which fix and confirm commercial operations, including owner’s order and permission for their conducting.

According to the Article 2.5 of the Principles no. 88 using of a facsimile while drafting prior documents is allowed only through the procedure which is regulated by the civil law acts. The Articles 2.8 and 2.9 of the Principles no. 88 define an important clause that additional requirements for the procedure of drafting of prior documents about cash and bank operations, movement of securities, goods and material values and other property are regulated by the legal acts.

As follows, the procedure of using a facsimile while drafting prior documents is allowed if there is no direct or not direct legal prohibition.

The laws have a list of situations when a facsimile is not allowed. Below you can find a list of documents and legal act which regulates appropriate procedure of drafting:

-          Bank receipts – Article 1.9 of the Chapter IV of the Instruction on conducting cash operations by banks in Ukraine which is approved by the Decree of the National Bank of Ukraine dated the 1st of June 2011 no. 174;

-          Settlement document – Article 2.8 of the Chapter II of the Instruction on bank calculations in Ukraine in national currency which is approved by the Board of the National Bank of Ukraine dated the 21st of January 2004 no. 22. A settlement document is a paper document which has demand on transferring money from payer’s account to receiver’s account according to this Instruction;

-          Settlement checks – Article 7.6 of the Chapter VII of the Instruction on cashless settlements in Ukraine in a national currency which is approved by the Decree of the Board of the National Bank of Ukraine dated the 21st of January 2004 no.22;

-          Payment orders – Article 2.2 of the Chapter II of the Principles on the procedure of conducting cashless settlements in a national currency in Ukraine while a special period which is approved of the Decree of the Board of the National Bank of Ukraine dated the 23rd of December 2003 no.577;

-          There is a note about person who can get a cash from a cash register in an exit cash order – Article 3.5 of the Principles on conducting of cash operations in a national currency in Ukraine which is approved by the Decree of the Board of the National Bank of Ukraine dated the 15th of December 2004 no. 637. There is exception for getting money through a power of attorney;

-          Bills – Article 5 of the Law of Ukraine “On circulation of bills in Ukraine” dated the 5th of April 2001 no. 2374-III;

-          Payment orders in a foreign currency and in banking metals – Article 2.1 of the Principles of the procedure of conducting documents for transfer by banks, compulsory write-off and arrest of funds in a foreign currency and in banking metals which is approved of the Decree of the Board of the National Bank of Ukraine dated the 28th of July 2008 no. 216;

-          Tax bills financial reports – the Order of the State Fiscal Service of Ukraine “On approving of generalizing tax consultation on matters of using a facsimile while drafting prior documents, financial documents” dated the 22th of November 2012 no. 1047.

In order to this consultation, other documents (bank receipts, checks, acts, invoices etc.) can be signed with a help of a facsimile. If you want to avoid conflicts with the State Fiscal Service of Ukraine then using of a facsimile has to be regulated by some documents. We had talked about it previously

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