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CIVIL CODE OF THE REPUBLIC OF KAZAKHSTAN

of July 1, 1999 No. 409-I ZRK

Special part

(The last edition from 28-10-2019)

Section 4. Separate obligation types

Chapter 25. Purchase and sale

§ 1. General provisions about purchase and sale
Article 406. Purchase and sale agreement

1. According to the purchase and sale agreement one party (seller) shall transfer property (goods) to the possession, economic maintaining or operational management to other party (buyer), and the buyer shall accept this property (goods) and pay for it certain sum of money (price).

2. The provisions provided by this paragraph are applied to purchase and sale of securities and currency values if legal acts do not establish special rules of their purchase and sale.

2-1. Features of purchase and sale of goods by Islamic bank when implementing of banking activity by it are established by the legal acts of the Republic of Kazakhstan regulating banking activity.

3. In the cases provided by this Code or other legal acts, features of purchase and sale of separate types of goods are determined by legislative and other regulatory legal acts.

4. The provisions provided by this paragraph are applied to sale of property rights if other does not follow from content or nature of these rights.

5. The provisions provided by this paragraph are applied to separate agreement types of purchase and sale (retail purchase and sale, delivery of goods, power supply, contracting, sale of the company) if other is not provided by rules of this Code about agreements of these types.

6. In case of sale of property according to the procedure, established for execution of judgments, the legal executive acts as the seller.

Article 407. The term of the contract about goods

1. Any thing with observance of rules of article 116 of this Code can be goods according to the purchase and sale agreement.

2. The agreement can be signed on purchase and sale of goods, available at the seller at the time of the conclusion of the agreement, and also goods which will be created or acquired by the seller in the future if other is not established by legal acts or does not follow from nature of goods.

3. The condition about goods is considered approved if the agreement allows to determine the name and goods quantity (essential conditions).

Article 408. Obligations of the seller on transfer of goods

1. The seller shall report to the buyer the goods provided by the agreement.

2. If other is not provided by the agreement, the seller shall report along with transfer of goods to the buyer of its accessory, and also the documents (the documents certifying the completeness, safety, goods quality, method of operation, etc.) provided by regulatory legal acts or the agreement relating to it.

Article 409. Completion date of obligation to transfer goods

1. Completion date to transfer by the seller of obligation goods to the buyer it is determined by the agreement and if the agreement does not allow to determine term - according to rules, stipulated in Article the 277th of this Code.

2. The purchase and sale agreement is recognized concluded with condition of its execution to strictly certain term if clearly follows from the agreement that in case of violation of term the buyer loses interest in agreement performance.

The seller has no right to perform such agreement before approach or after the expiration of the term determined in it without the consent of the buyer.

By legal acts or the agreement purchase and sale agreement performance cases in parts can be established (intermediate terms of a contract).

Article 410. The moment of discharge of duty of the seller to transfer goods

1. If other is not provided by the purchase and sale agreement, obligation of the seller to transfer goods to the buyer it is considered performed at the moment:

1) deliveries of goods to the buyer or person specified to them if the agreement provides obligation of the seller on the goods delivery;

2) provisions of goods in the order of the buyer if the goods be transferred to the buyer or person specified to them in the location of goods.

The goods are considered the buyer when to the term provided by the agreement, the goods are ready to transfer in the proper place made available and the buyer in accordance with the terms of the agreement is informed on readiness of goods for transfer. The goods are not recognized ready to transfer if it is not identified for the purposes of the agreement by marking or otherwise.

2. Obligation of the seller to transfer goods in cases when the obligation of the seller on the goods delivery or transfer of goods in the place of its stay to the buyer does not follow from the purchase and sale agreement, to the buyer it is considered performed at the time of delivery of goods to carrier or organization of communication for delivery to the buyer if the agreement does not provide other.

Article 411. Transition of risk of accidental death of goods

1. If other is not provided by the purchase and sale agreement, the risk of accidental death or accidental damage of goods passes to the buyer since the moment when according to legal acts or the agreement the seller is considered fulfilled the duty on transfer of goods to the buyer.

2. The risk of accidental death or accidental damage of the goods sold during its stay in transit passes to the buyer from the moment of the conclusion of the purchase and sale agreement if other is not provided by the agreement or business customs.

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