LEGAL REGULATION OF NON-CASH PAYMENTS IN THE RUSSIAN FEDERATION

ABSTRACT

The current state of the economy of the Russian Federation is undergoing tremendous changes, which are associated with the development of socio-economic relations, the growth of scientific and technological achievements, as well as the introduction of information technologies into human life. To date, the priority direction in the development of the Russian economy is the transition to digitalization of the payment market, namely, the change of cash payments, non-cash. Every day more and more people give their preference to the use of non-cash means of payment, which provide mobility and convenience of making payments for goods and services. Non-cash settlements have a significant impact on the performance of the financial system.

АННОТАЦИЯ

Современное состояние экономики Российской Федерации претерпевает колоссальные изменения, которые связаны с развитием социально-экономических отношений, ростом научно-технических достижений, а также с внедрением информационных технологий в жизнь человека. В настоящее время приоритетным направлением в развитие экономики России, является переход к цифровизации платежного рынка, а именно смена наличных расчетов, безналичными. С каждым днем все большее количество людей отдает свое предпочтение использованию безналичных средств платежа, которые обеспечивают мобильность и удобство совершения оплаты товаров и услуги. Безналичные расчеты оказывают значительное влияние на показатели финансовой системы.

Keywords: non-cash settlements, money turnover, development of money circulation, forms of settlements, settlement documents

Ключевые слова: безналичные расчеты, денежный оборот, развитие денежного обращения, формы расчетов, расчетные документы.

The existing system of organizing non-cash payments was not formed immediately, it is the result of many years of changes and modifications of public relations. Non-cash money turnover is a key direction in the development of the modern economy, it is necessary to study its historical and legal principles.

Since ancient times, non-cash settlements have been understood as settlement relations expressed in a simple commodity exchange form. In this way, people satisfied their basic needs for food, clothing and tools. During the formation of such relationships, an idea of the commensurability of products, as well as the ability to compare their prices in one product, has developed.

Together with the expansion of territorial limits, as well as access to international commodity markets, new market conditions, principles and directions were created. The desire to follow these conditions led to the establishment of jewelry goods (furs, lace, pearls) as a "marketable" product first, and subsequently trade was conducted only on the basis of precious metals. The exchange of precious metals or their non–cash equivalent - a bill of exchange, contributed to the development of a trading network linking different parts of the world. Such a commodity today is money expressed in cash and non-cash form.

The system of development of monetary circulation has always been relevant, many scientists have devoted their works to this topic. One of the key concepts was the "evolutionary" theory of the origin of money, which appeared in the XX century and still exists today. The founders of this theory were: A. Smith, D. Ricardo and K. Marx, according to their concept, the origin of money is explained as the result of an evolutionary process that, regardless of anyone's will, has taken a special position in the economic system. They believed that money is a commodity that plays the role of a universal equivalent. The result of such a process in modern conditions was the conversion of money into a non-cash form of settlement.

Returning to the history of the emergence of non–cash payments, it should be mentioned - transfer letters, which became the founders of the modern letter of credit form of payments and were popular until the end of the XII century. The process of commodity exchange with the help of such letters took place in the following sequence: a person who had a sum of money, but did not want to transport it between continents, turned to another person "money changer" who had the necessary amount of money at the destination. The money changer issued a letter to the person who applied in return for the money received, with an instruction to another money changer (at the destination) to pay this person the specified equivalent amount of money. Such relations were gaining great popularity, since they reduced the risks associated with the transportation of money, but at this stage such relations did not receive legislative consolidation, there were situations with forged letters and demands for non-existent funds.

A new stage in the history of settlement relations was the consolidation of letters of exchange in the form of promissory notes in legal documents. According to scholars of history, the "promissory note" originates from the Promissory Note Charter of Bologna in 1569. Thanks to the promissory note, non-cash payments have become carried out without intermediaries. Here, it should be noted that the bill of exchange circulation in the Russian Empire was fixed only in the XVIII century, in the Bill of Exchange Charter adopted on May 16, 1729.

One of the important moments of the formation of the system of non-cash payments of the XVIII century, were the projects proposed by Count P.I. Shuvalov, which concerned the replacement of the transportation of copper money by bill circulation. The main ideas of these projects were fixed in the Decree of Empress Elizabeth Petrovna "On the measures of promissory note production", adopted on November 6, 1757. This document regulated the implementation of transfer operations between St. Petersburg and 50 other cities of the Russian Empire, replacing the complicated transportation of copper money with non-cash promissory note circulation.

Thus, in the XVIII century, the first regulatory legal acts appeared in Russia that consolidated the activities of banking organizations in non-cash settlement relations.

The development of promissory note and check circulation served as a start for the creation of a new form of non–cash settlements for that time - collection settlements. The essence of such operations consisted in the absence of an acceptance element, that is, the client's consent was not required to conduct banking operations. In addition, money transfers were carried out through banking institutions within the framework of contractual obligations between the parties. This form of non-cash payments is called "Letter of Credit". The main condition for such transactions was to provide the bank with documents confirming the fulfillment of obligations of one party to the other in order to receive money.

Thus, this stage of the development of the system of non-cash payments laid the prerequisites for the formation of the main forms of settlements, the use of which continues at this moment, but still, the regulatory framework was very poorly developed and mainly regulated the relations of promissory note circulation.

The second half of the XIX century became a stage of capitalist development, including the processes of industrialization of society, as well as the emergence of new credit and trade relations. All this served as an impetus for the development of new directions in non-cash payments. The first stage was the opening in 1898 of the Settlement Department at the St. Petersburg office of the State Bank. This department was created for the exchange of debt claims between participants, as well as the elimination of such claims by opening personal accounts in this organization by participants.

An important role in the formation of the system of non-cash payments was played by the period of the existence of the USSR, all cash flows were in the introduction of the State Bank. The settlement system of that time was divided into cash, which served the movement of income and expenses of the population, and non-cash, which organized the activities of settlement operations at enterprises, state and cooperative organizations among themselves. This state of affairs was confirmed by the Decree of the Central Executive Committee of the RSFSR "On the nationalization of banks" in 1917, which was aimed at nationalizing all banks in the country under the supervision of the State Bank and the emergence of a new body – the People's Bank of the Republic. By 1931, the main forms of settlements were adopted: acceptance, letter of credit and special accounts.

The further development of cashless payments began with the introduction of electronic computers into the economy, thanks to which cashless payments reached a new level of development. On the basis of all the changes taking place, numerous regulatory legal acts were adopted in Russia that streamlined the banking sector of that time. Subsequently, an equally important regulatory document was adopted, which became the basis for the modern banking system, the Law "On Banks and Banking Activities", which regulated the main directions, as well as the conditions, methods and methods of banking activity in Russia.

Since the 90s, the system of non-cash payments has changed significantly, there has been a gradual transition from paper to electronic document management. In this regard, it should be noted that the final stage of the formation of the regulatory framework for non-cash transactions was the adoption in 2002 by the Bank of Russia of Regulation No. 2-P of October 3, 2002 "On non-cash settlements in the Russian Federation" [5]. The adopted document regulated the procedure for filling in documents used for settlement operations both in paper and electronic form, established the basis of settlement operations conducted by credit organizations and their branches. However, this regulatory legal act had its drawbacks, since the basic forms of settlements and the basic conditions for their organization were not fixed by law, and the norms of the document did not apply to non–cash settlements of individuals. Only 10 years later, these gaps in the legislation were eliminated and spelled out in the adopted Regulation of the Bank of Russia dated 06/19/2012 No. 383-P "On the rules for the transfer of funds") [6]. The publication of this document officially fixed in its norms the existing forms of non-cash payments and the procedure for their implementation, and also introduced new ones: direct debit and settlements carried out using electronic money. In 2021, the Central Bank, to replace the previously existing Regulation of the Bank of Russia No. 383-P, approved a new Regulation of the Bank of Russia dated 06/29/2021. No. 762-P "On the Rules for the transfer of Funds" [7], which approved new rules for the transfer of funds by the Bank of Russia and other credit organizations, and also introduced a new type of settlement document – a payment order.

At the present stage of development of the non-cash settlement system, the process of organizing non-cash settlements is formed according to a clearly defined system and is presented as a set of institutions - state laws and regulations that regulate settlement mechanisms as a whole.

References:

1. The Civil Code of the Russian Federation (part two) of 26.01.1996 N 14-FZ (as amended on 08.07.2021) // The Collection of Legislation of the Russian Federation of January 29, 1996 N 5 art. 410. [Electronic resource] / [Electronic resource] — Available at. — URL: http://base.consultant.ru / (Accessed 12.04.2023). [in Russian].
2. Federal Law "On Banks and Banking Activities" dated 02.12.1990 N 395-1 (latest edition). The text of the Federal Law is published in the Bulletin of the Congress of People's Deputies of the RSFSR of December 6, 1990, N 27, Article 357. [Electronic resource] / [Electronic resource] — Available at. — URL: http://base.consultant.ru / (Accessed 12.04.2023). [in Russian].
3. Federal Law "On the National Payment System" dated 27.06.2011 N 161-FZ (latest edition). At the Meeting of the Legislation of the Russian Federation dated July 4, 2011, No. 27, Article 3872. [Electronic resource] / [Electronic resource] — Available at. — URL: http://base.consultant.ru / (Accessed 12.04.2023). [in Russian].
4. "Regulations on non-cash payments in the Russian Federation" (approved by the Bank of Russia 03.10.2002 N 2-P) (ed. from 06/19/2012). [Electronic resource] / [Electronic resource] — Available at. — URL: http://base.consultant.ru / (Accessed 12.04.2023). [in Russian].
5. Regulation of the Bank of Russia dated 06/19/2012 No. 383-P "On the rules for the transfer of funds" (with amendments and additions, intro. effective from 06.01.2019). [Electronic resource] / [Electronic resource] — Available at. — URL: http://base.consultant.ru / (Accessed 12.04.2023). [in Russian].
6. Regulation of the Bank of Russia of 29.06.2021 N 762-P (ed. of 25.03.2022) "On the rules for the transfer of funds". [Electronic resource] / [Electronic resource] — Available at. — URL: http://base.consultant.ru / (Accessed 12.04.2023). [in Russian].
7. Vavilova E.M. Cashless payments in the Russian Federation: problems of terminology. Economy. right. society. 2020;5(2):41-45. [Electronic resource] / [Electronic resource] — Available at. — URL: https://epo.rea.ru/ jour/article/view/304/292. (Accessed 12.04.2023).  [in Russian].