of August 29, 1996 No. 263-I
About external borrowings
In this law the following basic concepts are applied:
"external borrowings" - attraction by the Republic of Uzbekistan or its resident of assets (the credits, loans and others) foreign states or nonresidents with acceptance on obligations to provide to this foreign state or the nonresident, or according to their requirement to the third party during the caused period of time adequate assets, including payments for use of assets;
"the state external borrowings" - attraction of assets from foreign sources (foreign states, their legal entities and the international organizations) on which there are obligations of the Republic of Uzbekistan as the borrower or the guarantor of repayment of the credits (loans) by resident borrowers;
"external debt of resident" - set of its obligations which resulted from external borrowings;
"total external debt" - the amount of the external debt of residents which is not guaranteed by the state and the public external debt;
"borrower" - the Republic of Uzbekistan on behalf of the Cabinet of Ministers of the Republic of Uzbekistan or resident, made external borrowing or documentary completed intention to make external borrowing;
"creditor" - foreign state or the nonresident (legal entities and physical persons of foreign states) who provided or intending to provide assets under the agreement on external borrowing. If it is several nonresidents, then the nonresident performing functions of the authorized manager in group of creditors can be the creditor.
The relations connected with external borrowings are regulated by this Law and other acts of the legislation.
The relations connected with public debt are regulated by the separate law.
If international treaties of the Republic of Uzbekistan establish other rules, than those which to contain in the legislation of the Republic of Uzbekistan on external borrowings, then rules of international treaties are applied.
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