In finance, a non-deliverable forward (NDF) is an outright forward or futures contract in which counterparties settle the difference between the contracted NDF price or rate and the prevailing spot price or rate on an agreed notional amount. It is used in various markets such as foreign exchange and commodities. NDFs are prevalent in some countries where forward FX trading has been banned by the government (usually as a means to prevent exchange rate volatility). The possibility of concluding an agreement on granting the right to conclude a treaty in the future play an important role in the planning of economic relations, a prerequisite for effective development of economic entities, and therefore the subject of the article seems very relevant. The author's conclusions are based on an analysis of regulatory, doctrinal interpretation, jurisprudence, can be used for law enforcement and regulatory activities.
The steady increase in the birth rate continued throughout the year 2013; however, the structural difficulties in the labor market that remain in place leave no hope that the human capital will provide an increasing contribution to the economic expansion in the medium term. The contracted differentials result in a drain of qualified personnel, whereas the outflows of labor migrants undermine labor productivity in the economy. At the same time, the policy of targeted wage pushes causes increases in employers’ costs and discourages further job creation. In order to remain competitive, the economy needs a dynamic labor market; however, this is something that the social security system does not allow.