RESOLUTION OF CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

of January 12, 2002 No. 1/4

About approval of the Regulations on clearing settlements in the Republic of Uzbekistan

List of amending documents

Based on Articles 3, "About the Central bank of the Republic of Uzbekistan" the Board of the Central bank of the Republic of Uzbekistan decides 7 and 51 Laws of the Republic of Uzbekistan:

1. Approve the enclosed Regulations on clearing settlements in the Republic of Uzbekistan in the new edition.

2. This resolution becomes effective after ten days from the moment of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

3. From the date of entry into force of this resolution to declare invalid Regulations on clearing settlements in the Republic of Uzbekistan (рег. No. 496 of 08.10.1998) and amendments No. 496-1 to it of 13.07.1999, No. 496-2 of 16.09.2000 and No. 496-3 of 24.05.2001.

 

Approved by the Resolution of Board of the Central bank of the Republic of Uzbekistan of January 12, 2002 No. 1/4

Regulations on clearing settlements in the Republic of Uzbekistan (new edition)

This Provision is developed according to the Civil Code of the Republic of Uzbekistan, the Laws of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan", "About banks and banking activity", "About the contractual legal base of activities of business entities", "About execution of court resolutions and acts of other bodies", other acts of the legislation of the Republic of Uzbekistan and determines procedure for carrying out clearing settlements in the territory of the Republic of Uzbekistan.

§ 1. General provisions

1. Action of this provision extends to all legal entities and physical persons - residents and nonresidents of the Republic of Uzbekistan, the perfroming clearing settlements (which are hereinafter referred to as with "clients").

2. Banks of the Republic of Uzbekistan will organize and perfrom clearing settlements in the following forms:

1) payments with payment orders;

2) payment under letters of credit;

3) payment under the collection;

4) payments with checks;

When implementing clearing settlements in the specified forms the following cash settlement documents are used:

1) memorial order (appendix No. 1);

2) payment order (appendix No. 2)

3) payment request (appendix No. 3);

4) collection order (appendix No. 4);

5) the statement on the letter of credit (appendix No. 5);

6) settlement check of commercial bank (appendix No. 6).

Also clearing settlements can be perfromed with use of plastic cards.

The specific form of clearing settlements and cash settlement documents between the payer and the receiver of means is determined independently according to the signed agreement (agreement).

3. If other terms are not provided by bank account agreement, the bank shall enlist into the customer account or list from its account money in day of receipt in bank of the relevant payment document if it arrived during the operational day of bank.

In case of receipt of the payment document after the termination of operational day the bank shall make payment no later than the next working day.

Banks have the right to stop account transactions of clients or to refuse their making according to the Law of the Republic of Uzbekistan "About counteraction of legalization of the income received from criminal activities and to terrorism financing.

4. Implementation of payments at the request of the client to the third parties is not allowed, passing the on-demand deposit account of the receiver of means, irrespective of availability of consent to it of the receiver of means, except cases, stipulated by the legislation.

5. Transfer of funds for the account of the receiver is performed only after write-off of these funds from the account of the payer unless calculations are made by settlement checks, and also plastic cards in cases, stipulated in Item the 96th this provision.

6. In case of insufficiency of money on the customer account for satisfaction of all requirements imposed to it, write-off of means is made according to the procedure of priority according to the Instruction about procedure for cash write-off from bank accounts of business entities (рег. No. 2342 of March 15, 2012) (Collection of the legislation of the Republic of Uzbekistan, 2012, No. 11, the Art. 127).

7. Mutual claims by calculations between the payer and the receiver of means are considered by the parties according to the procedure, established by the legislation.

Banks do not bear responsibility for charge and collection of penalty fee which the debtor shall pay to the creditor in case of non-execution or improper execution of agreement obligations.

8. The claims to bank connected with accomplishment of settlement transactions go the client to the servicing bank for clarification of the reasons.

Disputes between bank and its clients are solved mutually according to the signed bank account agreements. In case of impossibility of the decision of the arisen disputes by mutual consent, they are solved in court.

9. Banks when settlings with clients and carrying out the transactions can use memorial orders and payment orders.

10. Calculations between banks in the territory of the Republic of Uzbekistan are perfromed through their correspondent accounts opened the Center of calculations of the Central bank on electronic payment system in national currency. The electronic document management by calculations in banks will be organized according to the Provision "About Procedure of Electronic Payments through Interbank Payment System of the Central Bank" (рег. No. 1545 of 14.02.2006) and this Provision.

§ 2. Procedure for execution of cash settlement documents

11. Cash settlement documents without fail shall contain:

a) document number;

b) document date in the DD.MM.GGGG form, where "DD" - day, "MM" month, "GGGG" - year;

c) name of the payer;

d) account number of the payer;

e) the identification taxpayer number (ITN) (except the check);

e) bank name of the payer;

g) bank code of the payer;

h) name of a consignee;

i) account number of the receiver;

j) bank name of the receiver;

k) bank code of the receiver;

l) payment amount in figures and copy-book;

m) payment details (in the check it is not specified).

The settlement check of commercial bank shall contain in addition:

a) series and number of the check;

b) series and passport number (or the document equated to it) physical person;

c) final date of action of the check in the DD.MM.GGGG form, where "DD" day, "MM" - month, "GGGG" - year.

The statement on the letter of credit shall contain in addition:

a) effective period of the letter of credit;

b) number and date of the agreement according to which the letter of credit opens;

c) order number;

d) order date;

e) the name of the delivered goods, the performed work or the rendered services;

e) document type based on which payments for the letter of credit are made;

g) additional terms.

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