The Ministry of Finance explained when the customer has the right to write off penalties
The agency told what to consider for customers and suppliers who want to write off the penalty under the contract.
The legislators defined a specific list of grounds and conditions for which the penalty can be written off in resolution No. 783. We are talking about a penalty that was accrued for improper performance of the contract, but has not yet been paid.
Before making a decision to write off the penalty, the customer must verify the calculations for accrued and unpaid penalties with the counterparty. This is done according to the accounting documents that the customer has.
The supplier, contractor or contractor must confirm the existence of accrued and unpaid penalties. Otherwise, the customer will not be entitled to make a decision on writing off the penalty.
Document: Letter of the Ministry of Finance dated 02.02.2024 No. 24-06-06/8447
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