Convincing a creditor to agree to reduction of amount due on the increase of term of debt retirement, an enterprise must design this agreement in writing in order that a creditor could not afterwards contest this decision. Legal support is very important here, and all contract definitive agreements must be carefully tested lawyers.

Actually can be only two type of agreements :

agreement which allows an enterprise to make a bargain at once with all or by a few creditors simultaneously, for example, joint agreement between a debtor and basic creditors, in accordance with which creditors agree to diminishing of amount due in exchange on payment of debt banker's bills. This type of agreement will allow to avoid problems, related to the mistrust of creditors in relation to a debtor, because to all creditors identical rights will be given, all of them will go on an identical compromise, and an agreement will go into effect only after signing of him all sides, agreement in accordance with which a debtor and concrete creditor consent to abolish an old agreement and conclude a new treaty about the obligations of debtor. This type of agreement, opposite, will be used in those cases, when to the concrete creditor individual approach is needed.

Regardless of choice of type of agreement, if there are signatures of the authorized persons of creditor on him, an enterprise can be sure that his old obligations can not be claimed in a judicial order.

One of important custom controls is planning and restructuring of tax payments. The Russian legislation gives a few possibilities for the change of chart of payments taking into account the financial consisting of enterprise and his role of infrastructure of region. Normative acts, helping to change the terms of payment of taxes and collections, are below described.

Postponement of running payments

Possibility of change of term of payment of taxes and collections in 1998 years was foreseen Federal Law "On FEDERAL BUDGET ON 1998 years". A postponement and (or) arranging on the installment system on payment of taxes and other obligatory payments can given on a term, not exceeding the limits of current year, but not over six months. Postponements and (or) arranging on the installment system are given in the followings cases:

a. delay of financing from a federal budget (without collection of percents);

b. threat of bankruptcy at one-time payment of tax (percents are paid for using budgetary resources in size of a 1/2 rate of refunding);

c. considerable financial harm as a result of natural calamity, technological catastrophe or other extraordinary circumstance (percents are paid for the uses by budgetary resources in size of a 1/3 rate of refunding).

A bank guarantee or other methods of providing of execution of obligations come forward as providing. The mechanism of grant of postponements and (or) arranging on the installment system is entered Decision of Government Russian FEDERATION from Augusts, 12, 1998 №940.

In a relation a fine and forfeits, Law "On FEDERAL BUDGET ON 1998 years" gives a right the organs of local self-government and public of subjects of Russian FEDERATION authorities to make decision about an extra uncharge a fine for expiration of payments on taxes, included in the budgets of subjects of Russian FEDERATION and local budgets.

Restructuring of debt on being in January, 1 1998

In addition, Law "On FEDERAL BUDGET ON 1998 years" enables to restructure debts before a budget on being in January, 1, 1998 by the grant of postponement and (or) arranging on the installment system to four years on taxes and collections and to ten years on fines.