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Agreement between the Government, Central bank of the Republic of Uzbekistan and Government, National Bank of the Republic Georgia on the organization of calculations

of September 4, 1995

The government, the Central bank of the Republic of Uzbekistan and the Government, National Bank of the Republic Georgia, the hereinafter referred to as Parties,

agreed as follows:

Article 1

Calculations between the Republic of Uzbekistan and the Republic Georgia are made in freely convertible currency, according to the laws existing in the territory of each state.

Article 2

1. Central Bank of the Republic of Uzbekistan and National Bank of the Republic Georgia can establish correspondence relations by opening each other of accounts in freely convertible currencies, according to the laws existing in the territory of the states of the Parties.

2. Central Bank of the Republic of Uzbekistan and National Bank of the Republic Georgia also intend to authorize commercial banks on maintaining correspondence relations.

3. Correspondent accounts of commercial banks of the Republic of Uzbekistan are considered valid after their registration in the Central bank of the Republic of Uzbekistan.

Article 3

1. Authorized banks of the Republic of Uzbekistan are the commercial banks of the Republic of Uzbekistan which obtained the general license for carrying out banking activities in foreign currency, and having the special permission issued by the Central bank of the Republic of Uzbekistan.

2. Authorized banks of the Republic of Georgia are the commercial banks which obtained the general license of National Bank of the Republic Georgia for carrying out banking activities in foreign currency.

Article 4

1. Authorized banks of the Republic of Uzbekistan and the Republic of Georgia can credit each other on contractual conditions, according to the accepted international banking practice and according to the laws existing in the territory of the states of the Parties.

2. All payments registered between authorized banks, connected with purchase of goods and rendering services shall correspond to single customs rules and provisions of International Chamber of Commerce, and also the international banking practice.

Article 5

The parties do not bear responsibility on settlement of the arising obligations of authorized banks and do not guarantee balance of calculations for the transactions performed by them.

Article 6

Central Bank of the Republic of Uzbekistan and National Bank of the Republic Georgia will control implementation of the approved transactions between authorized banks, specified in this agreement, according to current legislations of the states of the Parties.

Article 7

1. Changes and amendments to this agreement are drawn up by separate protocols which are integral part of this agreement.

2. The Parties will solve disputes and disagreements which can arise during the course of performance this agreement by negotiations.

Article 8

This agreement becomes effective from the date of signing and will be effective until one of the Parties at least in three months in writing does not notify other Party on cancellation of the Agreement.

It is made in the city of Tashkent on September 4, 1995 in duplicate in the Uzbek, Georgian and Russian languages, and all texts are equally authoritative.

For the purposes of interpretation of provisions of this agreement the text in Russian will be used.

 

For the Government of the Republic of Uzbekistan

For the Government of the Republic Georgia

For the Central bank of the Republic of Uzbekistan

For National Bank of the Republic Georgia

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