The Lari as the Sole Lawful Means of Payment
Georgia's monetary unit is the lari, which consists of 100 tetri. The lari is the only lawful means of payment on the territory of Georgia, save for free industrial zones, free trade points and cases defined by the National Bank. Where an entrepreneur offers for sale property or services in Georgia, or advertises them, the price must be expressed only in lari; a different rule may be established only by a legal act of the National Bank. Cash settlement follows the rounding principle — the amount is rounded up or down to the nearest multiple of 5, the method and procedure of rounding being set by the National Bank's council. Banknotes and coins put into circulation are the unconditional obligation of the National Bank at nominal value, except banknotes and coins withdrawn from circulation or classified as numismatic values. For FX compliance this means that every public offer of the entrepreneur — a shop window, price list, website or advertisement — must be expressed in lari, and cash payments apply the rounding principle at the moment of sale. Technically these are two requirements in one: the unit of price and the mechanics of payment — and both are objects of supervision.