RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of April 21, 1998 No. 167

About measures for ensuring insurance protection of national exporters

According to the Law of the Republic of Uzbekistan "About insurance", for the purpose of insurance protection of national exporters in the international markets of the capital, goods and the services Cabinet of Ministers decides:

1. Determine that:

insurance of the export contracts performed on the terms of payment deferral and which are not provided with payment obligations of the first-class banks from policy and commercial risks is performed according to procedure according to appendix.

2. The insurance coverage from policy and commercial risks under the export contracts providing payment deferral is provided by insurance companies to exporters and commercial resident banks of the Republic of Uzbekistan.

Insurance of export cargo transportation is performed by legal entities, being the commercial organizations and having the license for implementation of insurance of the corresponding type, according to the legislation of the Republic of Uzbekistan and the international rules "Incoterms".

3. To impose control over the implementation of this resolution on the Deputy prime minister Hamidov B. S.

Appendix

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of April 21, 1998 No. 167

Procedure for provision of insurance coverage to exporters of the capitals, goods and services

I. General provisions

This procedure determines the mechanism of carrying out insurance of export contracts, and also provisions of insurance coverage of the credits of commercial banks by export contracts with the purpose of protection of interests of the state and national exporters from policy and commercial risks in the international markets of the capital, goods and services.

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