Payment for repository services – Q&A

Information on the upcoming changes into the Fee schedule for NSD Repository services

In this section of the website we’ve collected frequently asked questions about payment for repository services.

Additional information about receiving and paying for invoices by the Principal reporting agents, payment schematics and invoice formation is available in the presentation.

Information about sending payment documents on specified Identification (repository) code is available by the following link.

Payment documents samples

Frequently Asked Questions

Common questions related to billing

Which document defines general terms for paying for repository services?
**********
----------

----------
Who is the payer under invoice for the repository services?
**********
**********

Payer under invoice is sender of a message to the Repository or receiver of a certain service (e.g. provision of extract from the Contracts register). Therefore payer for the repository services in scope of reporting and recordkeeping information is a Reporting agent.

More information can be found in the presentation.

**********
----------

----------
How can I select different Fee schedule?
**********
**********

By submitting Declaration of accession to the fee schedule. Selected schedule shall come in effect starting next month following the month when the Declaration was submitted. Repository participants may choose between 1 “per trade” schedule and 5 fixed fee schedules.

**********
----------

----------
What payment documents are provided by the Repository?
**********
**********

Invoice, acceptance act and attachment to the invoice. The latter is provided only in electronic form and only for the Fee schedule 1.

Paper forms are sent by post or can be obtained at NSD’s office.

**********
----------

----------
What is the periodicity for billing?
**********
**********

Invoices are billed every month no later than 5th business day of the month, following the billing period.

**********
----------

----------
In what period repository services should be paid?
**********
**********

No later than last day of the month following the billing period.

**********
----------

----------
Which Repository software allows receiving invoices and other payment documents in electronic form?
**********
**********

Invoice, acceptance act and attachment to the invoice are received via Repository’s Web-client.

**********
----------

----------
In which currency invoice is billed? Are repository services VAT-eligible?
**********
**********

Invoice is billed in Russian rubles (RUB). VAT may be applied in accordance with the Tax code of Russia.

**********
----------

----------
I use several Identification (repository) codes. Does it mean that I’ll receive several invoice split between the codes?
**********
**********

Invoice is billed only to a Reporting agent (client) and only to a primary Identification code. In case you need to use another code, you may submit the relevant Request to NSD.

**********
----------

----------
If I received “main” and auxiliary Repository services (in accordance with the Fee schedule for NSD Repository's auxiliary services) during a month, will I receive one invoice or two?
**********
**********

Client shall receive one invoice which will include costs of “main” and auxiliary Repository services. Acceptance act and attachment (specification) to invoice will also be unified. Please note that no attachment to invoice is provided for clients using Fee schedule 2.1 – 2.5.

In case any Repository service (services) are subjected to VAT in accordance with the legislation in effect, NSD shall create separate invoice, acceptance act and attachment to invoice for all services with VAT.

**********

Reporting agents as payers for the services

I – as a client – have several Reporting agents which submit information on my behalf. Which Reporting agent shall receive the invoice regarding the trades reported on my behalf?
**********
**********

Each Reporting agent shall receive invoice which will be calculated depending on number of messages submitted to the Repository by such agent, number of trades kept in the Contracts register and other services provided.

If needed, Reporting agent may reimburse it’s client (clients) for expenses taken on it behalf. Repository does not regulate such processes.

**********
----------

----------
Is it possible for me as a Reporting agent to recompense my expenses by transferring it to my counterparties on whose behalf I submit information?
**********
**********

Yes, attachment to the invoice contains fields with parties’ names and codes for each operation performed by Reporting agent (the latter’s details also may be indicted there in case it’s party of the trade). This information is enough to reimburse expenses.

**********
----------

----------
In case I act as a Reporting agent for two parties of the trade (and such parties are also a Repository clients) does it mean that I shall pay “double” fee for trade registration and recordkeeping?
**********
**********

No, sender pays only for the messages (or it’s accounting in the Contracts register) in amount stipulated in the Fee schedule. “Double” fees are not applied.

**********

Billing of certain services

Does the number of CM092/CM094 forms counts when fee grade is determined in the Fee schedule 1?
**********
**********

No. At the same time any number of registered CM092/CM094 reporting forms shall cost 1 000 RUB per month. However, CM092/CM094 forms reporting will affect fixed limit for the Fee schedules 2.1 – 2.5.

**********
----------

----------
Is UTI generation service provided free of charge?
**********
**********

Yes, NSD does not charge clients for UTI generation solution in the Web-client.

**********
----------

----------
How NSD determines when to apply fee for the provision of consulting and information services (10 000 RUB)?
**********
**********

Fee is applied when client is provided with the service which won’t be covered by standard service: e.g. Repository should perform unconventional procedures for providing information from the Contracts register or in case third parties are involved to perform client’s request.

**********
----------

----------
How can I use the format and logical check and how this service is billed?
**********
**********

This service shall be launched on 1 October, 2016 and Repository participants will be able to connect to it by submitting application. Client (Reporting agent) shall be billed for the service regardless of it’s activity with the Repository until disconnection from the service.

**********
----------

----------
I’ve submitted Notification on rejection to submit information to the Repository (CM012 form) to the Repository and have a valid Power of Attorney issued to my Principal reporting agent with the right to receive invoices on my behalf. Will my Principal reporting agent be able to receive invoice on my behalf after 1 July, 2016?
**********
**********

No, since billing procedures shall be changed and client who receives the service also becomes payer and receiver of the invoice.

Notification on rejection to provide information to the Repository was developed especially for those clients who are not obliged to report but at the same time want to have a certain control over action of third parties reporting. Therefore submission of such Notification meant that client would enter into the Electronic data interchange agreement with NSD and use WEB-client to receive payment documents.

Since WEB-client is provided for all clients free of charge we’d like to recommend to use it in order to receive the service as well as payment documents in full.

**********
----------

----------
In case I refuse to reconcile trade data due to discrepancies when receive reconciliation request from counterparty (its Reporting agent), will I be billed for reconciliation denial message?
**********
**********

No, such message won’t be billed. But in case you’ll accept the received trade data, your confirmation message will be billed in accordance with the selected Fee schedule.

**********
----------

----------
Do I pay safekeeping and record fee in case contract (trade) was registered in the Contracts registered and closed on the same business day with CM093 form?
**********
**********

Yes. In accordance with the Fee schedule 1 condition, the fee shall be charged for each calendar month or its fraction from the date of a Contract Reporting Form registration in the Contracts Register. However, no safekeeping and record fee applies for contracts reported with CM08x forms.

**********
Ask question
— Mandatory fields
 
Send your request and our specialists will contact you as soon as possible
— Mandatory fields
 
Request details