Agreement between the Government of the Republic of Uzbekistan, Central bank of the Republic of Uzbekistan and Government of Ukraine, National Bank of Ukraine on the organization of calculations
of April 18, 1997
The government of the Republic of Uzbekistan, the Central bank of the Republic of Uzbekistan (further - Bank of Uzbekistan), on the one hand, and the Government of Ukraine, the National Bank of Ukraine (further - Bank of Ukraine), on the other hand, hereinafter referred to as "Parties",
agreed as follows:
Calculations and payments between the Republic of Uzbekistan and Ukraine are performed in national currencies of the Republic of Uzbekistan and Ukraine, and also in rubles of the Russian Federation and in freely convertible currencies according to the legislation existing in the territory of each state.
The specified calculations between the Republic of Uzbekistan and Ukraine are made:
- through the correspondent accounts of Bank of Uzbekistan and Bank of Ukraine opened each other;
- through direct correspondent accounts of authorized banks of the Parties;
- through correspondent accounts of authorized banks of the Parties in Bank of Ukraine.
The payment currency and form of calculations are determined by business entities (legal entities and physical person) of the Republic of Uzbekistan and Ukraine independently in contracts (contracts) for delivery of products, rendering services, performance of works.
1. The correspondent accounts of Bank of Uzbekistan and Bank of Ukraine opened each other are used only for implementation of the transactions following from functions of Central Banks of the states and also for other transactions according to the supplementary agreement of Bank of Uzbekistan and Bank of Ukraine.
2. Calculations for intergovernmental agreements are perfromed through the authorized banks which are specially stipulated in these agreements.
3. Calculations for all other transactions are perfromed through authorized banks of the Parties.
1. Authorized banks of the Republic of Uzbekistan and Ukraine perfrom mutual calculations and payments according to legislations of two states:
- through correspondent accounts in Bank of Ukraine,
- through direct correspondent accounts.
2. Authorized banks of Ukraine are the commercial banks which obtained the license of Bank of Ukraine for the right of carrying out transactions with currency values.
3. 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 special permission of Bank of Uzbekistan.
4. According to the accepted international banking practice and the legislation existing in the territory of each state, the authorized banks of the Republic of Uzbekistan and Ukraine operating correspondent accounts (LORO and NOSTRO) can perform on these accounts banking activities from among stipulated in licenses.
Opening and maintaining in authorized banks of Ukraine of accounts of legal entities (non-bank organizations) and physical persons of the Republic of Uzbekistan is made according to the legislation of Ukraine in the presence of special permission of Bank of Uzbekistan with the subsequent registration by specified persons of open accounts in Bank of Uzbekistan.
Opening and maintaining in banks of the Republic of Uzbekistan of accounts of legal entities (non-bank organizations) of Ukraine is made according to the legislation of the Republic of Uzbekistan in the presence of the individual license of Bank of Ukraine. Opening and maintaining in banks of the Republic of Uzbekistan of accounts of physical persons of Ukraine is performed according to the legislation of the Republic of Uzbekistan in the presence of the individual license of Bank of Ukraine. Opening by physical persons of Ukraine of accounts in banks of the Republic of Uzbekistan without the corresponding individual license of Bank of Ukraine only for the period of their stay in the territory of the Republic of Uzbekistan is allowed if other is not provided by the current legislation of Ukraine.
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.
The parties confirm that the means of authorized banks of one state which are on correspondent accounts of authorized banks of other state cannot be written off or transactions on them are stopped without the consent of bank account holder if other is not provided in the agreement on correspondence relations (except for execution of decisions of the international Arbitration Court).
1. For calculations and payments between Bank of Uzbekistan and Bank of Ukraine the operating correspondent accounts opened by Bank of Uzbekistan in Bank of Ukraine and Bank of Ukraine in Bank of Uzbekistan remain.
2. Through the correspondent accounts opened each other the Bank of Uzbekistan and Bank of Ukraine agreed upon calculations as follows:
2.1. Payments (transactions) are made only in the presence of means on correspondent account.
2.2. Transactions on correspondent accounts are made no later than the banking day following behind day of receipt properly of the processed payment documents.
2.3. Transfer of funds for correspondent accounts is made based on orders of Bank of Uzbekistan and Bank of Ukraine. Write-off of funds from correspondent account is made only based on written the order of bank - the account holder.
2.4. Percent on remaining balance on correspondent accounts are not charged and not paid except as specified when the credit balance on correspondent account is drawn up by the free deposit standing agreement.
2.5. Calculations are made by payment orders and letters of credit. Under additional approval other forms of calculations taken in the international practice can be applied.
2.6. Payment documents and statements on correspondent accounts are sent each other by courier special communication no later than the banking day following behind day of carrying out transactions. To the statement on correspondent account two copies of the summary payment order on the total amount of turnovers of correspondent account and lists in duplicate with settlement and cash documents are applied to them.
Statements on correspondent accounts are also sent each other by fax no later than the second day following behind day of carrying out transactions.
2.7. In case of readiness of Bank of Uzbekistan for work on electronic communication channels, calculations can be made according to the mutual arrangement of Bank of Uzbekistan and Bank of Ukraine through electronic payment system of Ukraine (SEP of Ukraine) or through the SWIFT system. The technology and procedure of electronic payments (transactions) makes a reservation the supplementary agreement.
2.8. In case of extreme situations delivery of documents in sealed packets through the courier with the power of attorney of Bank Uzbekistan or Bank of Ukraine, respectively is allowed.
2.9. Reconciliation with confirmation of remaining balance and turnovers on correspondent accounts as of the last date of the expired quarter is made quarterly no later than the 30th following the termination of quarter.
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