Електронний багатомовний

термінологічний словник

Electronic Multilingual Terminological Dictionary


Accounting and Auditing

Ratification

The process of making an agreement official: The agreement requires formal ratification by the league's athletic directors. If the resolution passes, the year-long ratification process will begin [Cambridge dictionary].
Ratification is approval by the highest body of state power of an international treaty and consent to its binding for the state. Ratification (from the Latin ratus — approved + fico — I do) is the process of giving legal force to a document (for example, a contract) through its approval by the relevant body of each of the parties. The legal nature of ratification and the procedure for its implementation is determined by the Vienna Convention on the Law of International Treaties of 1969 and national legislation (in Ukraine, the Law "On International Treaties of Ukraine" of 2004). Before ratification, such a document, as a rule, has no legal force and is not binding on the party that has not ratified it. The fact of ratification is formalized by a special document called a letter of ratification. The parties either exchange instruments of ratification or, in the case of a large number of parties, transfer the instruments of ratification to the depositary. The depository may belong to one of the signatory parties or be a third party. Most often, ratification is used to give legal force to international treaties. According to international treaties, ratification is one of the ways of expressing the state's consent to the binding nature of the treaty.

Sources:

Ratification (2003). Legal encyclopedia. Ukrainian encyclopedia named after M. p. Bazhana. Retrieved from: https://uk.wikipedia.org/wiki/%D0%A0%D0%B0%D1%82%D0%B8%D1%84%D1%96%D0%BA%D0%B0%D1%86%D1%96%D1%8F

Ratification (2023). Cambridge dictionary. Retrieved from: https://dictionary.cambridge.org/dictionary/english/ratification

Part of speech Noun
Countable/uncountable Countable
Type Abstract
Gender Neutral
Case Nominative