OREANDA-NEWS. July 23, 2007. Russia and China start electronic money order exchange on 10th July 2007. The corresponding contract was signed within the framework of the meeting between the representatives of Russian Post and Group of companies Chinese Post. China is the first far-abroad country that signed such agreement.

In the Russian Federation electronic orders will be paid out in Russian rubles, in China in USA dollars and yuans. Maximal order sum shouldn't exceed 1 500 (one thousand five hundred) USA Dollars. The number of orders received in Russia and addressed to one addressee is unlimited.

Currently, technical base to render the service in both countries is completely ready. The technology meets the requirements worked out by the center of postal technologies of International Bureau, Universal Postal Union. The countries will perform collection and payment of international postal electronic money orders through this technical base.

Orders can be made from physical body to physical body, from physical body to juridical body, from juridical body to physical body. So money order will cover almost all market sectors.

Tariff rate for the service is equivalent to the current tariffs for international money orders amount from 2 to 5% depending on the sum of order.