The OJSC Belarusian Universal Commodity Exchange was established in 2003 in order to improve the mechanism of government regulation in the field of domestic and foreign trade and to develop formal wholesale market.
The exchange auctions are held in strict conformity with Rules of exchange trade for goods included in the List of commodities, admitted to exchange trade.
The auctions are divided into four commodity sections:
• Section of metal products,
• Section of timber,
• Section of agricultural products,
• Section of industrial and consumer goods.
Accreditation means registration at the Exchange on the basis of contracts on exchange service, the recognition of legitimacy and powers to participate in the auctions.
It is possible to take part in the auctions independently or through intermediaries (exchange brokers).
According to the Rules of exchange trade foreign legal entities can take part at the auctions only as visitors of the auctions (i.e. to make transactions at the Exchange on its own behalf and at own expense).
Traiders must receive digital signature before the accreditation.
Access to the Trading system and personal section of website is possible only with the digital signature.
After the receiving of digital signature the applicant (his/her authorized representative) must form a service contract agreement at personal section of website, sign it with digital signature and send to the Exchange the electronic form of the document.
Legal and natural persons involved in entrepreneurial activities in the prescribed manner, provide:
1. Legalized extract from the commercial register of the country of the applicant, containing information on registration, legal address, powers of officials of the applicant, with translation into Belarusian or Russian (the translator's signature must be notarized in Belarusian or Russian)*, since the issuance of which passed no more than one year
2. Legalized power of attorney to the trader (Annex 8 to the rules of exchange Trade) translated into Belarusian or Russian (the translator's signature must be notarized in Belarusian or Russian)*
3. Copies of trader’s passport pages, containing the identity of the individual (the original passport must be provided for verification)
* Note: The translation into Belarusian or Russian language shall be for the whole document (extract, power of attorney), including its details (stamps, seals).
In the event that an agreement on exchange services for visitor signed by an authorized person by proxy, additional legalized power of attorney should be provided.
Legalization of documents:
1. For countries that joined to the Hague Convention of 1961, abolishing the requirement of legalization for foreign public documents, it is necessary to put a special stamp on power of attorney and extract - Apostille. For further legalization of the documents (extract, power of attorney) must be translated into Belarusian or Russian, the translator's signature notarize in Belarusian or Russian
2. Documents certified by a stamp, which are intended for use in countries with which Belarus has concluded treaties on legal assistance (Poland, Lithuania, Latvia, China, countries of the Commonwealth of Independent States, China, Czech Republic, Hungary, Cuba) does not require legalization. Statement must be translated into Belarusian or Russian, the translator's signature notarized in Belarusian or Russian. Power of Attorney must be certified by a notary, that is, head of the company before a notary public shall place his signature on power of attorney and, the notary certifies the credentials and authenticity of the signature of the Principal. Notarized power of attorney must be translated into Belarusian or Russian, the translator's signature notarized in Belarusian or Russian
3. For countries that had not acceded to the Hague Convention and had not signed agreement on legal assistance with the Republic of Belarus, legalization of documents provided at the Consular Department of the Ministry of Foreign Affairs and consular establishments of the Republic of Belarus
Information on procedure of legalization of documents can be found on the official website of the Ministry of Foreign Affairs of the Republic of Belarus.
More information about Belarusian Universal Commodity Exchange www.butb.by
Representative of „ BUCE” in Latvia SIA „ Business support services”