Contracts in Financial Law: Concept and Features

Abstract

The paper examines the need to highlight at the legislative level an independent institution of the contract in financial law. Purpose and objectives of the study: to determine how relevant for the public branches of law at the present stage of development of domestic legislation is the formation of an independent institution of contractual relations, taking into account the convergence of public and private principles. Based on a formal legal analysis of the available scientific papers on the topic of the study, a conclusion is made about the importance of introducing the legal term “financial public contract” into legal circulation. Through comparison, the author comes to the conclusion that there is a dual understanding of the contract in financial law: on the one hand, as a formalized source of law, on the other, as an individual law enforcement agreement. At the same time, the latest interpretation of the financial public contract meets modern demands in the field of achieving government objectives by attracting the private sector both as a performer and an investor. The author’s understanding of the financial public contract is formulated. Improving the legal framework is possible only on the basis of sufficient doctrinal research on this issue, taking into account the opinion of law enforcers. It is necessary to continue to form a scientific and applied justification for the independent legal regulation of contracts in the public branches of Russian law, including financial law.