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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of February 12, 2018 No. 106

About enhancement of the mechanism of realization and calculations for the cotton fiber made by the companies of JSC Uzpakhtasanoat

(as amended on 16-09-2019)

In pursuance of resolutions of the President of the Republic of Uzbekistan of November 28, 2017 No. PP-3408 "About measures for cardinal enhancement of management system cotton industry" and of January 18, 2018 No. PP-3483 "About the main indicators of production and supply of cotton fiber of harvest of 2017 in January-August, 2018", for the purpose of further enhancement of the mechanism of realization of cotton fiber the Cabinet of Ministers decides:

1. Take into consideration that according to the resolution of the President of the Republic of Uzbekistan of January 17, 2018 No. PP-3479 "About measures for stable providing industries of national economy with demanded types of products and raw materials" is established procedure for realization of cotton fiber:

to the domestic textile enterprises having production capacities on its conversion - through the exchange biddings;

To GPO "Davlat of Belgisa", the companies of JSC Uzpakhtasanoat, the Uzbek society of blind people and organizations of the Main Directorate of the Penitentiary of the Ministry of Internal Affairs of the Republic of Uzbekistan - under direct agreements within technology requirement and the available production capacities.

2. Determine that:

the realization of JSC Uzpakhtasanoat of cotton fiber made by the companies for export is enabled to nonresidents for foreign currency through the exchange biddings and under direct contracts;

storage and leave for export and to the organizations of the republic of the cotton fiber made by the companies of JSC Uzpakhtasanoat is made only from cotton terminals;

final acceptance of cotton fiber on quality and weight by foreign buyers and the organizations of the republic is performed on cotton terminals.

3. Approve:

Regulations on procedure for realization of cotton fiber and carrying out calculations according to appendix No. 1;

Regulations on procedure for realization of cotton fiber at the exchange biddings according to appendix No. 2 and to enact it since April 1, 2018;

Regulations on procedure for certification and weighing of cotton fiber according to appendix No. 3.

4. Determine that:

contracts (agreements) on the realization of JSC Uzpakhtasanoat of cotton fiber for export and to the organizations of the republic concluded before entry into force of this resolution shall be performed according to the acts of the legislation and contract (contractual) commitments existing at the time of their conclusion;

before commissioning of the Regulations on procedure for realization of cotton fiber at the exchange biddings supply of cotton fiber to the domestic textile enterprises having production capacities on its conversion is performed under direct agreements with JSC Uzpakhtasanoat.

5. Take into consideration that the realization of cotton fiber at the exchange biddings for national currency is enabled on the basis of 100 percent advance payment from the domestic textile enterprises.

Recommend to commercial banks to open to the textile companies renewable credit lines on revolving basis for financing of purchase of cotton fiber at the exchange biddings.

At the same time, the realization of cotton fiber for the domestic textile enterprises at the exchange biddings for national currency is enabled on basis:

15 percentage advance payment with carrying out final settlements within 90 days of harvest of 2017;

35 percentage advance payment with carrying out final settlements within 90 days of harvests of 2018 - 2020.

At the same time, obligation fulfillment can be provided with penalty, pledge, deduction of property of the debtor, the guarantee, guarantee, deposit and other methods, stipulated by the legislation or the agreement.

6. In case of realization and calculations for cotton fiber it is strict to Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas, Ministry of Finance of the Republic of Uzbekistan, State Customs Committee of the Republic of Uzbekistan, JSC Uzpakhtasanoat, Uzstandart Agency to observe the requirements established by this resolution and the legislation.

7. To provide to JSC Uzpakhtasanoat and JSC Uzbekiston temir yullari strict control of condition of fire safety at the companies of the cotton-processing industry, cotton terminals, and also when transporting cotton fiber by rail.

8. To deputy prime ministers of the Republic of Uzbekistan N. S. Otazhonov, Z. T. Mirzayev, Uztekstilprom association, Uzyogmoysanoat Association together with Council of Ministers of the Republic of Karakalpakstan and khokimiyats of areas to take system measures for increase in interest of the cotton-processing and oil and fat companies in cotton raw production process, including its collection and cleaning, for the purpose of ensuring further the production requirements with necessary amount of high-quality raw materials.

9. Recognize voided since April 1, 2018 some decisions of the Government of the Republic of Uzbekistan according to appendix No. 4.

10. To the Ministry of Finance, the interested ministries and departments together with the Ministry of Justice of the Republic of Uzbekistan to bring the regulatory legal acts adopted by them into accord with this resolution in a month.

11. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan - the chairman of the board of JSC Uzagrotekhsanoatholding N. S. Otazhonov and the chairman of the board of JSC Uzpakhtasanoat A. I. Maksudov.

Prime Minister of the Republic of Uzbekistan
Abdullah Aripov

Appendix № 1

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of February 12, 2018 No. 106

Regulations on procedure for realization of cotton fiber and carrying out calculations

Chapter 1. General provisions

1. This Provision determines procedure and the mechanism of realization of cotton fiber and carrying out calculations through JSC Uzpakhtasanoat.

Calculations for cotton fiber between JSC Uzpakhtasanoat and the cotton-processing companies are performed according to the scheme according to appendix No. 1 to this Provision.

2. In this Provision the following basic concepts are used:

suppliers - the cotton-processing companies which are part of the joint-stock company "Uzpakhtasanoat;

EXW - "Ex-works" - ex works - goods gets JSC Uzpakhtasanoat from the warehouse of the supplier specified in the agreement;

By CFR - ports of the Far East - cost and freight - the goods are delivered to the port of destination of the buyer specified in the agreement, insurance of the main transportation, unloading and transfer are paid by the buyer;

index "A" - the price of cotton fiber expressed in cents for pound, determined by the weighted average values of the international cotton exchange;

the bulletin "Cotton Outlook" - the publication of the International cotton association which determines the price of cotton fiber of the different countries of exporters on daily basis by poll of the international traders (sellers), final buyers and producers of cotton fiber;

the Uzbek component - the name of the quotation of the cotton fiber produced and realized by the Republic of Uzbekistan;

c / f - designation of the price of cotton fiber in cents for 1 pound (weight measure, equal 453,59 of grams).

3. The cotton fiber produced by suppliers is implemented by JSC Uzpakhtasanoat with its delivery to cotton terminals (further - terminals) agrees to the commission agreements signed between them.

4. To GPO "Davlat of Belgisa", the companies of JSC Uzpakhtasanoat, the Uzbek society of blind people and organizations of Head department of execution of the punishment of the Ministry of Internal Affairs of the Republic of Uzbekistan cotton fiber according to the approved task of production and supply of cotton fiber is implemented under direct contracts (agreements) signed with JSC Uzpakhtasanoat in national currency at listed wholesale price taking into account the expenses connected with realization and also commission fee.

5. For JSC Uzpakhtasanoat regarding realization of cotton fiber the payment procedure of taxes and other obligatory payments in the Government budget of the Republic of Uzbekistan and the state trust funds as is applied to the broker payer of generally established taxes.

6. Relations in case of realization of cotton fiber between suppliers and JSC Uzpakhtasanoat are regulated by this Provision, other acts of the legislation and bilateral agreements of the commission.

Chapter 2. Procedure for determination of the prices of cotton fiber

7. In accordance with the terms of the commission agreement payment from JSC Uzpakhtasanoat to suppliers is performed in national currency at the listed wholesale price approved by the Ministry of Finance of the Republic of Uzbekistan on the terms of EXW - "Ex-works", irrespective of world market conjuncture.

The commission fee of JSC Uzpakhtasanoat constitutes 1 percent (excluding VAT) from the cost of the implemented cotton fiber.

8. The prices of the cotton fiber realized by JSC Uzpakhtasanoat for export are determined in foreign currency at the rate of average value of quotations of index "A" and its Uzbek component, and in case of its absence - proceeding from index "A" + by c 3,0 / f, published in the bulletin "Cotton Outlook", on the terms of CFR - ports of the Far East for 1 ton of cotton fiber of grade of "Birinchi", the class "Urta", 4 types, the 36th code (basic price). Proceeding from this price, the prices of other grades, classes, types and codes of cotton fiber, using coefficients according to appendix No. 2 to this Provision are determined. The procedure for fixing of the prices, payment term and deliveries are determined in contracts (agreements) for export of cotton fiber.

9. The costs of JSC Uzpakhtasanoat connected with realization of cotton fiber include:

costs on insurance (during the transporting and storage), delivery from warehouse of the supplier, to unloading, storage of cotton fiber in terminals, its shipment to buyers, transportation (including payment for issue of the phytosanitary certificate and the militarized protection on the republic territories, and also commission charges of transport freight forwarders) on the terms of CFR - ports of the Far East, transfer (loading unloading), fumigation and storage of fiber in ports within the normative terms established by ports, calculated for accomplishment of conditions of CFR - ports of the Far East;

costs on certification and weighing of cotton fiber on the rates approved with the Ministry of Finance of the Republic of Uzbekistan;

costs on declaring and customs clearance of cotton fiber;

banking expenses (guarantees, commission charges of bank for money transfer, verification of shipment documents and other expenses, including expenses on interest payment on the credits of banks), and also costs for loans Fund of the state support of agricultural industry under the Ministry of Finance of the Republic of Uzbekistan (further - Fund) and his financial agent, attracted to calculations for the cotton fiber which is purchased from suppliers;

commission fee of JSC Uzpakhtasanoat.

The deduction of expenses for realization of cotton fiber is made after determination of the price of each grade, class, type and code.

10. The Ministry of Finance together with the Ministry of Economics of the Republic of Uzbekistan and JSC Uzpakhtasanoat annually till August 1 calculated and brings for approval in the Cabinet of Ministers of the limiting Republic of Uzbekistan the size of costs of JSC Uzpakhtasanoat on realization of cotton fiber for export and to the organizations of the republic. At the same time depending on actually incured costs increase in individual clauses of costs with the corresponding reduction of other cost items within the approved extreme sizes is allowed.

11. During the periods of action of the world prices for cotton fiber published in the bulletin "Cotton Outlook" (average value of quotations of index "A" and its Uzbek component on the terms of CFR - ports of the Far East) below the approved listed wholesale prices, the realization of cotton fiber is enabled in the amounts which are not exceeding the parameters provided in task for production and supply of cotton fiber.

12. At the same time if the world prices for cotton fiber develop:

below the approved listed wholesale prices including tax for value added, in case of realization to the organizations of the republic suppliers estimate the value added tax, proceeding from actually developed prices at the exchange, on the following formula: the actual sales price increased on 15/115 (the value added tax = the actual sales price 15/115);

above the approved listed wholesale prices including tax for value added, in case of realization to the organizations of the republic suppliers estimate the value added tax, proceeding from listed wholesale price.

12-1. Determine that since harvest of 2019 in case of realization of cotton fiber to the organizations of the republic the value added tax is estimated proceeding from the actual price of its realization irrespective of the developed world prices for cotton fiber, on the following formula: the actual sales price increased on 15/115 (the value added tax = the actual sales price * 15/115)

Chapter 3. Procedure for shipment and calculations for cotton fiber

13. Supply of cotton fiber to terminals is performed on the terms of EXW - "Ex-works".

Terminals provide transportation, free acceptance on safe custody and compulsory insurance from the moment of acceptance and before shipment for export and to the organizations of the republic of all amount of the cotton fiber produced by suppliers and accompanied with shipment documents irrespective of availability of notifications of JSC Uzpakhtasanoat.

Expenses on transportation to terminals and to insurance of cotton fiber are compensated by JSC Uzpakhtasanoat at the expense of the means received from realization of cotton fiber.

14. In case of discrepancy of quality and mass of cotton fiber to the indicators specified in the certificate of conformity (the act of inspection) of authorized division of the Uzstandart Agency, disagreements on the matter are solved with involvement of his representative. In case of confirmation of disagreements concerning quality and weight, all additional expenses connected with it are covered at the expense of authorized division of the Uzstandart Agency, and settlement between the supplier, by JSC Uzpakhtasanoat and the buyer are performed based on the actual quality and mass of the this batch after consideration of acts in 5-day time.

15. Statements of mutually reconciliation on harvest of specific year are drawn up within 30 days after completion of shipment of cotton fiber of the corresponding year.

Final settlements on harvest are perfromed during term according to the signed agreements.

In case of formation of negative difference between world and internal prices following the results of realization of cotton fiber of harvest of specific year, JSC Uzpakhtasanoat makes and represents to the Cabinet of Ministers of the Republic of Uzbekistan final settlement of the amount of negative difference for further carrying out settlement till October 31 of the next year.

When calculating the amount of the negative difference which is subject to compensation the amount of marginal exceeding of costs of JSC Uzpakhtasanoat taking into account Item 9 of this provision and the expenses which are not provided by this Provision vychityvatsya.

16. JSC Uzpakhtasanoat makes calculations with suppliers at the expense of the means which arrived under contracts for realization of cotton fiber, loans, and also the funds allocated for covering of negative difference, and other sources which are not prohibited by the legislation.

17. JSC Uzpakhtasanoat makes realization of cotton fiber according to the approved parameters of task for production and supply of cotton fiber.

At the same time during the periods when the world prices for cotton fiber develop:

below the approved listed wholesale prices, the amount of negative difference formed at JSC Uzpakhtasanoat taking into account expenses on realization and commission fee becomes covered by Fund for completed contracts based on calculations in accordance with the established procedure;

above the approved listed wholesale prices, taking into account expenses on realization and commission fee calculated quarterly, and also following the results of realization of cotton fiber of harvest of the corresponding year the amount of positive difference formed at JSC Uzpakhtasanoat goes on the received funds or for replenishment of current assets of Fund.

Chapter 4. Final provision

18. Persons guilty of violation of requirements of this provision bear responsibility according to the legislation.

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