Financial contract as a type of public contract

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Purpose: To determine the financial contract as an agreement of two or more parties, one of which is a public entity or is it aimed at the establishment, modification or termination of the subjective rights and legal duties in the sphere of financial activities, ensures the effective achievement of the goal of mandatory provisions in the financial regulation. Methodology: Used methods of deduction, formal-legal, analytical, dispositive. Results: The article analyzes the nature of the contract in financial and legal regulation, as a version of a public contract. At the same time, attention is focused on comparing the financial-legal contract with the administrative-legal agreement, their commonality and differences. The conclusion is drawn that the use of generic, cross-cutting categories for many legal branches does not at all mean interpenetration of industrial designs into each other, but indicates the existence of systemic law, where each industry has a separate place, but nevertheless communicating with others. The evolution of contractual relations testifies to a certain transformation of private-legal instruments into public-legal instruments, when the state connects certain legal consequences with them and puts them in the appropriate legal form. The public nature of the contract in financial law is manifested in ensuring the implementation of the imperative order, the most effective, rational, and timely execution of the will of the public entity. In terms of financial contracts, as a variety of public contracts, it is not a question of interlacing imperative and dispositive regulation, but of the emergence of such a design when a dispositive method contributes to the formation of the most rational model for the implementation of an imperative prescription and plays a unique supporting role in implementing the dictates emanating from the public entity. That is why a financial contract is characterized as an agreement of two or more participants, one of which is or represents a public entity aimed at establishing, changing or terminating the subjective rights and legal obligations in the sphere of financial activity, ensuring the most effective achievement of the goal of the mandatory order in financial and legal regulation. Novelty/originality/value: Article possesses a certain scientific value and practical significance.


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