According to Clause 5.7.4 of Bank of Russia Instruction No. 181-I, a Resident must register a Contract (Credit Agreement) without specifying the total amount of obligations within the following timeframes:
1. Upon debiting foreign currency or the currency of the Russian Federation under the contract (credit agreement), as well as upon crediting foreign currency or the currency of the Russian Federation from a non-resident, no later than the deadline for the resident to submit documents related to the execution of transactions, when carrying out the transaction as a result of which the amount of settlements under the import contract (credit agreement) will be equal to or exceed the equivalent of RUB 3 million, and under the export contract will be equal to or exceed the equivalent of RUB 10 million.
2. No later than the date of filing the goods declaration or the document used as a goods declaration, as a result of which the value of goods under the import contract will be equal to or exceed the equivalent of RUB 3 million (under the export contract, it will be equal to or exceed the equivalent of RUB 10 million).
3. When obligations under the contract (credit agreement) are fulfilled by methods other than those specified above, no later than the deadline for submitting the statement of supporting documents in connection with the fulfillment of obligations under the contract (credit agreement) in an amount equal to or exceeding the equivalent of RUB 3 million under the import contract (credit agreement) or equal to or exceeding the equivalent of RUB 10 million under the export contract.
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