Approved 
by the Meeting of founders
dated November 26, 2020
Minute No. 1

Articles of Association

 of the Entrepreneurs Association for the development of mutually beneficial relations
«International Association for Economic Development»

Moscow, 
2020

I.	GENERAL PROVISIONS

1.1.	 The Entrepreneurs Association for the Development of Mutually Beneficial Relations "International Association for Economic Development" (hereinafter referred to as the Association) was founded by completely capable citizens of the Russian Federation carrying out activities in the field of business development based on voluntary membership and created to represent and protect common interests, including professional ones, to achieve socially useful goals.
1.2. The Association is a non-profit corporate organization, does not pursue profit-making as the basic goal of its activities and does not distribute the profit received among the members of the Association; the founders of the Association acquire the right of membership in it and form its supreme body in accordance with the Civil Code of the Russian Federation.
1.3. The Association was established and operates in accordance with the Constitution of the Russian Federation, the Civil Code of the Russian Federation, the  Federal Law No. 7-FZ "On non-profit organizations", No. 129-FZ "On state registration of legal entities and individual entrepreneurs", other legislative acts, and these Articles of Association.
1.4.	The Association is a legal entity under the laws of the Russian Federation after its state registration, has separate property, has an independent balance, is authorized to conclude contracts on its own behalf, to acquire property and personal non-property rights and bear obligations, to be a plaintiff and a defendant in courts, arbitration courts.
1.5. The Association performs functions and has powers that are voluntarily delegated to it by the members of the Association.
1.6. The Association is the owner of its property, including property transferred to the Association by its members. The Association possesses, uses and disposes of the property it owns in accordance with the goals of its activities and the purpose of its property under the current laws of the Russian Federation.
1.7. The Association is liable to the full extent of its assets. The state and its bodies shall not be liable for the obligations of the Association, just as the Association shall not be liable for the obligations of the state and its bodies. The Association shall not be liable for the obligations of its members, the members of the Association shall not be liable for the obligations of the Association.
1.8. The Association has settlement and other bank accounts, including foreign currency account, a round seal with its name, stamps and forms in Russian.
1.9. Full name of the Association: 
in Russian: Ассоциация предпринимателей по развитию взаимовыгодных отношений «Международная Ассоциация Экономического развития»;
in English: «International Association for Economic development».
Abbreviated name of the Association:
in Russian: «Международная Ассоциация Экономического развития»;
1.10. Location of the Association: Russian Federation, city of Moscow.
1.11. The Association has the right to create branches in the Russian Federation and abroad and open representative offices in accordance with the laws of the Russian Federation, international law and the laws of the countries where branches are created and representative offices are opened.
1.12. The branch and representative office of the Association are not legal entities, they are endowed with property at the expense of the Association and act on the basis of the Regulations approved by it. The property of a branch or a representative office is recorded on a separate balance sheet and on the balance sheet of the Association. The heads of the branch and representative office are appointed by the Association and act on the basis of the power of attorney issued.
1.13. The branch and representative office carry out activities on behalf of the Association. The Association shall be liable for the activities of its branches and representative offices.
1.14. The Association may create other non-profit organizations, join international organizations in the interests of achieving the goals provided for by these Articles of Association in accordance with the current laws.

II. goals and objectives of the association

2.1.	The Association is created by a group of citizens with the aim of coordinating the activities of the Association members in the following areas:
•	consolidation and coordination of the efforts of the Association members in the implementation of economic policy, promoting the growth of industrial and entrepreneurial activity, the establishment of mutually beneficial economic ties both within the states and at the international level, the unification of the material, scientific, technical and intellectual potential of the members of the Association.
•	formation of a favorable climate for the successful development of business and entrepreneurial activity, free trade mechanisms, approval of the principles of social partnership, increasing the economic, cultural, educational, informational level of entrepreneurs;
•	ensuring and developing business contacts with other international organizations, primarily of economic, scientific and technical, social orientation;
•	promoting the dissemination of information on development and activities, education of a wide range of entrepreneurs;
•	development of civil society in the field of entrepreneurship and business support, including representation and protection of the common, professional interests of the members of the Association.
The corporate object of the Association is achieving its corporate purpose.
2.2.	To achieve the above mentioned socially useful goals, the Association carries out the following activities:
•	summarizes and represents the interests of the members of the Association in international organizations and associations;
•	assists members within the competence of the Association in the establishment and development of enterprises of various forms of ownership and management, in their adaptation to the conditions of a market economy, production or commercial activity, in the establishment and expansion of international relations, in the implementation of programs and projects that meet the statutory interests of the Association;
•	advises and assists members of the Association on economic, legal, informational issues;
•	organizes the exchange and dissemination of information, experience and best practice among the members of the Association;
•	participates in the preparation and implementation of interstate treaties on economic, scientific, technical, legal, environmental and social problems in the prescribed manner;
•	organizes an independent examination of international and national draft laws, management decisions, scientific, technical, innovation and investment programs and projects;
•	develops and implements own programs and projects or in cooperation with other associations corresponding to the statutory goals of the Association;
•	establishes, independently or jointly with other organizations on a parity basis, foundations, contractual business cooperation agencies, consulting agencies, information and marketing centers, educational, scientific, cultural, advertising, tourism and other organizations;
•	creates information and editorial-publishing organizations, establishes other mass media;
•	makes civil transactions, acquires personal property and non-property rights, including copyright and publishing rights in accordance with the current laws;
•	holds exhibitions, seminars, conferences and other events that promote economic development and cooperation, improve the level of business and professional qualifications of enterprise managers, specialists, entrepreneurs;
•	carries out activities aimed at developing civil society in the field of entrepreneurship and business support;
•	interaction with federal and regional legislative and executive authorities, local government bodies in order to implement the goals of the Association;
•	interaction with Russian and foreign mass media and non-profit organizations within the framework of the statutory activities of the Association;
•	holding joint events between the members of the Association;
•	providing members of the Association with consulting, information, legal services;
•	publication and dissemination of information about the activities of the Association, providing access to information about the activities of the Association and its members;
•	participation in the activities of international organizations, associations in the implementation of Russian and international programs and projects related to the statutory activities of the Association;
•	formation of temporary and permanent teams of specialists, attraction of individual specialists for the implementation of the goals of the Association;
•	implementation of activities aimed at assisting the members of the Association in technical, organizational terms;
•	uniting and coordinating the activities of the members of the Association in order to strengthen the material and technical base on the basis of modern technical means;
•	representing the interests of the members of the Association in federal and regional legislative and executive bodies, local government bodies of the Russian Federation, Russian, foreign and international commercial and non-profit organizations;
•	investment of financial resources available, earned and attracted to achieve the goals of the Association;
•	financing social programs, carrying out charitable activities.
•	organizes work to develop and expand the territorial and substantive base of the Association's activities, its potential and structures, ensuring their competitiveness, effectiveness, public recognition, authority.
To achieve its goals, the Association, in accordance with the current laws, has the right to: maintain direct international contacts and communications, disseminate information on its activities by any available legal means freely, represent and protect the legitimate interests of the Association and its members, provide legal and other assistance to individuals and legal entities contributing to the implementation of the statutory goals of the Association, act as a founder and co-founder of business companies, as well as to carry out types of income-generating activities:
•	exhibition and fair;
•	provision of legal assistance and consulting services;
•	assistance in organizing business tourism and hotel business;
•	international monitoring and management;
•	consulting on education, training and advanced training of personnel;
•	editorial and publishing activities;
•	activities in the field of mass media;
•	promoting the provision of advertising services; business management; business administration;
•	scientific and technological services and related research and development; industrial analysis and research services.
•	publication of methodological, scientific, training and educational literature;
•	organization and holding of scientific conferences, seminars, lectures, forums.
2.3.	Members of the Association have the right to use its services free of charge. 
2.4.	The Association can carry out income-generating activities only insofar as it help achieve the goals for which it was created, and if it corresponds to such goals.

III. MEMBERS OF THE ASSOCIATION

3.1.	Members of the Association can be completely capable Russian and foreign (legally located on the territory of the Russian Federation) citizens, Russian and foreign legal entities that share the statutory goals of the Association.
3.2.	Members of the Association have the right:
-	to receive information about the activities of the Association, get acquainted with its accounting and other documentation;
-	to make proposals on issues within the scope of the Association to the Association's governing bodies consideration;
-	to use the services rendered by it free of charge on an equal footing with other members of the Association;
-	to leave the Association at its own discretion at any time.
The Association Members have other rights provided by law.
3.3.	 The Association Members are obliged to:
-	contribute to the implementation of the goals and corporate object of the Association;
-	take part in events held by decisions of the governing bodies of the Association;
-	make admission and other contributions (fees) the amount and payment procedure of which are established by the General Meeting of the members of the Association; to make additional property contributions to the property of the Association by the decision of the General Meeting of the Members of the Association.
	The Association Members have other duties provided by law.
3.4. The decision on admission to the membership of the Association shall be made by the Board of the Association with subsequent approval at the General Meeting of the members of the Association. Before making decision of the General Meeting of the Members of the Association, a candidate for membership approved by the Board of the Association, who made an admission contribution (fee), shall enjoy all the rights of a member of the Association.
3.5. A member of the Association can terminate his/her membership in the Association at any time by submitting a written notification to the Board of the Association.
3.6. Membership in the Association may be terminated by the decision of the General Meeting of the Members of the Association, if its activities contradict the goals of the Association, as well as upon the recommendation of the Board of the Association. 

IV. Management of the association activity

4.1.	The governing bodies of the Association are the General Meeting of Members of the Association, the Board, the Director of the Association. The General meeting of founders elects the Board of the Association, the Director of the Association when creating the Association.
4.2.	The supreme body of the Association is the General Meeting of Members. The General Meeting of Members of the Association has the right to resolve all issues of its organization and activities.
4.3.	Regular meetings of the General Meeting of Members of the Association are convened by the Board of the Association at least once a year. Members of the Association are notified in writing of the convocation of the General Meeting of Members no later than one month before the day of its holding.
Extraordinary meetings of the General Meeting of Members are convened by the Board of the Association or by decision of at least one quarter of the members of the Association to resolve urgent issues that arise in the course of the activities of the Association and go beyond the competence of the Board of the Association. Extraordinary meetings of the General Meeting are convened no later than 15 days after the relevant statement or decision of the Board of the Association.
4.4.	The exclusive competence of the General Meeting of Members is:
-	to approve the Articles of Association, amend it;
-	to determine priority directions of the Association's activities, principles of formation and use of its property;
-	to elect members of the Board of the Association, the Director of the Association, terminate their powers, the members of the Board of Trustees ahead of schedule;
-	to elect the Audit Commission (Auditor) of the Association and terminate his/her powers ahead of schedule, to appoint an audit organization or an individual auditor;
-	to approve annual reports and accounting (financial) statements of the Association;
-	to make decisions on the creation of other legal entities by the Association, on the participation of the Association in other legal entities, on the creation of branches and on the opening of representative offices of the Association;
-	to determine the procedure for admission to the membership and exclusion from it;
-	to set the size of the admission and regular membership fees, additional property fees and the procedure for their payment;
-	to makes decisions on the procedure for determining the amount and method of payment of membership fees, on additional property contributions of the members of the Association to its property;
-	to approve the auditing organization or individual auditor;
-	to approve candidates for membership, according to which the Board of the Association made a decision and who made an admission contribution (fee); 
-	to resolve the issue of reorganizing and liquidating the Association, appointing a liquidation commission (liquidator) and approving the liquidation balance sheet.
4.5.	The general meeting of the members of the Association is entitled to resolve issues submitted for its consideration if more than half of the members of the Association are present at the meeting.
4.6. The decisions of the General Meeting are made by a simple majority of votes of the members of the Association present at the meeting. Each member of the Association has one vote when voting.
Decisions on issues of the exclusive competence of the General Meeting of Members of the Association are taken by a qualified majority of 2/3 of the votes present at the General Meeting of Members of the Association. 

V. Board of the Association

5.1. To manage the activities of the Association in the period between the General Meetings of the members of the Association, the Board of the Association - a permanent collegial executive body of the Association is formed.
 The Board is elected by the General Meeting of the Association members for a period of 5 years, in the amount of at least two people. Any member or members of the Association may be elected as a member of the Board of the Association.
The number of elected members of the Board shall be determined by the General Meeting of the Members of the Association. The remuneration of the members of the Board can be made within the estimate at the expense of the contributions of the members of the Association.
5.2.	The Board is headed by the Director of the Association, who is a member of the Board.
5.3.	The Board of the Association:
-	decides on admission to the membership and on exclusion from the membership;
-	considers issues that are submitted for discussion at the General Meeting of Members and Members of the Association preliminarily;
-	determines the forms of practical activities of the Association for the implementation of its statutory goals;
-	makes decisions on the establishment of the Association's funds and determines the procedure for their use;
-	convenes regular and extraordinary meetings of the General Meeting of Members and Members of the Association;
-	solves the issues of the Association's activities, submitted for its consideration by the members of the Board, the Director of the Association, the Audit Commission (Auditor) and members of the Association;
-	approves the structure and cost estimate of the Association, the forms and amounts of payment and material incentives for the work of the staff of the Association;
-	creates permanent or temporary sections in the areas of work, and also approves regulations on them.
5.4.	Meetings of the Board of the Association are convened by the Director of the Association as necessary, but at least once a quarter. The Director of the Association presides over the meetings of the Board.
5.5. Meetings of the Board of the Association are considered valid if more than half of the members of the Board are present. The decisions of the Board are taken by open vote by a simple majority of votes of the members of the Board present. 

VI. BOARD OF TRUSTEES

6.1. The Board of Trustees promotes the implementation of the Association's statutory goals.
6.2. The Board of Trustees may include prominent statesmen and public figures, scientists, business representatives interested in improving and developing entrepreneurship, contributing to the formation of entrepreneurship in the world.
The composition of the Board of Trustees and its term of office are determined by the General Meeting of the members of the Association for a period of 5 years on the proposal of the Director of the Association.
6.3. The Board of Trustees monitors the compliance of the activities of the governing bodies of the Association with the goals of the Association and other provisions of its Articles of Association. The Board of Trustees of the Association is authorized to make decisions if more than half of the members of the Board of Trustees of the Association are present at its meeting. Decisions of the Board of Trustees shall be made by a simple majority of votes of the Members of the Board of Trustees present, if a quorum is present.
6.4. Provides other types of support for the development of the Association.

VII. DIRECTOR OF THE ASSOCIATION

7.1. The Director of the Association is a sole executive body of the Association elected by the General Meeting of the Association Members for a period of 5 years and performs the following functions:
-	acts on behalf of the Association without a power of attorney, represents its interests in relations with other organizations, institutions, other legal entities and individuals, public authorities;
-	represents the interests of the members of the Association before federal, regional and local authorities and administration of the Russian Federation;
-	manages and disposes of the property, funds and affairs of the Association within the powers granted, performs all its functions on its behalf and contacts on the Association's affairs directly with all legal entities and individuals in the Russian Federation and abroad;
-	manages the current activities of the Association;
-	resolves, in agreement with the Board of the Association, issues related to the conclusion of contracts and agreements on behalf of the Association, concludes transactions and other legal acts, issues powers of attorney, opens accounts of the Association in banks, concludes agreements with banks for obtaining loans;
-	submits draft plans of its work, as well as the staff and number of the executive office of the Association Board for the approval of the Association Board;
-	issues orders and instructions on the activities of the Association, recruits and fires employees;
-	submits the structure and cost estimate of the Association to the Board of the Association;
-	submits annual reports on the activities of the Association to the Board of the Association;
-	organizes the execution of decisions of the General Meeting of Members of the Association and the Board of the Association and verification of their implementation;
-	performs other functions that meet the goals of the Association, not contradicting the current laws of the Russian Federation.

VIII. AUDIT COMMISSION (AUDITOR) OF THE ASSOCIATION

8.1. For the purpose of audit of financial and economic activities, examination of the cash register, property and reporting of the Association, the General Meeting elects the Audit Commission (Auditor) in the number determined by the General Meeting from among persons who are not members of the Board of the Association, but at least three people, for one year.
8.2. The competence of the Audit Commission (Auditor) of the Association includes the following authorities:
- check (audit) of the financial and economic activities of the Association based on the results of activities for the year, as well as at any time at the initiative of the Audit Commission (Auditor) or the decision of the General Meeting of the Members of the Association;
- requesting documents on financial and economic activities from the governing bodies of the Association;
- initiating the convocation of the General Meeting of the Members of the Association;
- drawing up an opinion based on the results of the audit of financial and economic activities, which should contain: confirmation of the reliability of the data contained in the reports and other financial documents of the Association; information on the facts of violation of the accounting and financial reporting procedure established by legislative and regulatory acts of the Russian Federation, as well as legal acts of the Russian Federation in the course of financial and economic activities.
8.3. The members of the Audit Commission (Auditor) are remunerated during the performance of their duties and compensated for the expenses associated therewith by the decision of the General Meeting of the Association Members.
The amount of such remuneration and compensation is established by the decision of the Board of the Association on the proposal of the Director of the Association.

IX. PROPERTY AND assets OF THE ASSOCIATION

9.1.	The Association possesses separate property consisting of fixed and current assets, buildings, structures, foreign exchange and other funds, as well as other property necessary for the implementation of its statutory goals.
9.2. The sources of funds of the Association are:
- regular and one-time receipts from the members of the Association (admission, membership and targeted fees);
- voluntary property contributions and donations from legal entities and individuals;
- funds received from the sale of information materials related to the statutory activities of the Association;
- income received from placing funds on bank deposits;
- dividends (income, interest) received on shares, bonds, other securities and deposits;
- other sources not prohibited by the laws of the Russian Federation.
The property transferred to the Association by its members is the property of the Association. The Association Members do not retain the rights to the property transferred by them to the Association, including membership and other fees, including after withdrawal from the Association.
The asset contribution required for the implementation of income-generating activities of the Association is formed by the Association members in the amount of ten thousand rubles in equal shares, by transferring funds to the account of the Association.
9.3. The Association is mainly funded by the Association members. The initial annual membership fee shall be paid by each candidate for membership in the Association simultaneously with the admission fee. The second and subsequent annual membership fees shall be paid by each member of the Association during the first calendar month following the reporting financial year.
9.4. Contributions can be paid in money, or other property and non-property rights that have a monetary value. Their cost is estimated in rubles as agreed by the General Meeting of the Association. The Association members lose their right to dispose of the property transferred as a contribution. 
9.5. The amount of contributions, as well as changes related to the term and forms of making an admission fee shall be established by the Board of the Association.
9.6. The admission and annual membership fees are used for the maintenance of the management apparatus and the provision of the activities of the Association, provided for by these Articles of Association.
9.7. The funds of the Association are used to:
-	reimburse costs associated with the implementation of specific programs of the Association;
-	reimburse expenses for business trips and hiring specialists on the activities of the Association;
-	pay for rent of premises, transport, means of communication, purchase of the necessary equipment and other property intended for the Board of the Association;
- remunerate the Director of the Association, members of the Board of the Association;
-	reimburse expenses for holding conferences, exhibitions, symposia, seminars and other events of the Association;
-	reimburse other expenses determined by the Board of the Association.
9.8. The financial year of the Association is established from January 1 to December 31 of the calendar year. The balance of the Association is drawn up at the end of each year.
9.9. Accounting and reporting of the Association is performed in the manner prescribed by the laws of the Russian Federation.

X. AMENDMENTS AND additions TO THE ARTICLES OF ASSOCIATION

10.1. Changes and additions to these Articles of Association shall be approved by the General Meeting of the Association members. Changes and additions to the Articles of Association come into force from the after their state registration.

XI. REORGANIZATION AND LIQUIDATION OF THE ASSOCIATION,
FINAL PROVISIONS

11.1. Reorganization (merger, accession, division, separation, transformation) or liquidation of the Association shall be carried out by decision of the General Meeting of the Association Members or by a court decision.
In the event of the reorganization of the Association, all its rights shall pass to the assignee(s).
11.2. The liquidation of the Association is carried out by the liquidation commission formed by the General Meeting of the Association Members.
The general meeting of the members of the Association establishes the procedure and terms for liquidation, as well as the time limit for filing claims of creditors in accordance with the current laws of the Russian Federation. 
The liquidation commission shall pay funds to the creditors of the Association in liquidation in the order of priority established by the laws of the Russian Federation. If the property of the Association is insufficient, it shall be distributed among the creditors in the appropriate sequence in proportion to the amounts of claims to be satisfied. If the funds available to the Association are insufficient to meet the claims of creditors, the liquidation commission has the right to sell the property of the Association. 
If the use of the property of the Association in liquidation is not possible in accordance with its constituent documents, it turns into state revenue.
The liquidation of the Association is considered complete, and the Association - ceased to exist, after making a corresponding entry in the Unified State Register of Legal Entities.
11.3. If certain provisions of these Articles of Association conflict with the current laws and regulatory legal acts of the Russian Federation, the corresponding provisions of the laws and regulatory legal acts of the Russian Federation shall apply, and the necessary amendments and additions are made to the Articles of Association.