The agreement between the Government of the Republic of Belarus and the Government of the Azerbaijan Republic on creation of favorable legal, economic and organizational conditions for expansion of leasing activities

of August 28, 2012

The government of the Republic of Belarus and the Government of the Azerbaijan Republic which further are referred to as with the Parties

for the purpose of development of long-term and mutually beneficial cooperation, and also creation of the effective, equal and corresponding to world practice of international leasing legal, economic and organizational conditions for mutually advantageous leasing of the machinery and equipment in the states of the Parties, strengthenings of friendship between the states of the Parties

agreed as follows:

Article 1

The parties according to national legal systems of the states will promote creation of favorable legal, economic and organizational conditions for expansion of leasing activities for the following directions:

development of the simplified procedures of the conclusion and agreement cancelation of international leasing;

creation and providing complex system of insurance of export risks and subjects of contracts of international leasing with participation of insurance companies of the states of the Parties;

determination of conditions of providing obligations (pledge, guarantee, bank guarantee and/or other providing transaction of international leasing);

establishment in the agreement of international leasing of the optimum amount of participation of the leasing recipient in financing of the purchase and sale agreement of subject of the leasing acquired in connection with agreement performance of international leasing.

Article 2

The parties will build the modern and widely applied in the international practice relations in leasing activities for step-by-step implementation of this agreement.

Guarantee to subjects of the international leasing activities of the Party in the territories of the states legal protection which is provided with national legal systems of their states, international treaties which participants are the Parties, and provisions of this agreement.

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