RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 15, 2005 No. 37/8

About approval of the Provision "About System of Package Clearing of Small Retail and Regular Payments in the Kyrgyz Republic"

Having considered the project of the Provision "About System of Package Clearing of Small Retail and Regular Payments in the KR", according to articles 3 and 43 of the Law KR "About KR National Bank" the Board of KR National Bank decides:

1. Approve the Provision "About System of Package Clearing of Small Retail and Regular Payments in the KR" it (is applied).

2. To management of payment systems together with Legal department to make state registration of this resolution in the Ministry of Justice of the KR in accordance with the established procedure.

3. This resolution becomes effective from the moment of publication of the Provision "About System of Package Clearing of Small Retail and Regular Payments in the KR" in official publications of KR National Bank after state registration in the Ministry of Justice of the KR.

4. To management of payment systems to bring this resolution to the attention of commercial banks of the KR, JSC Settlement and Savings Company, the Central Treasury under the Ministry of Economics and finance of the KR, regional managements of KR National Bank and Representative office of KR National Bank in Batken Province.

5. After publication of the registered regulatory legal act to inform the Ministry of Justice of the KR on publication source (the name of the edition, its number and date).

6. To impose control of execution of this resolution on the vice-chairman of KR National Bank Moldokanov Sh. I.

Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of December 15, 2005 No. 37/8

Regulations on System of package clearing of small retail and regular payments in the Kyrgyz Republic

1. General provisions

1.1. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 14.06.2017 No. 2017-P-19/24-8-(NPA)

1.2. This Provision determines the basic concepts and rules of functioning of System of package clearing of small retail and regular payments in the territory of the Kyrgyz Republic (daleesistem).

1.3. This Provision extends to legal entities and physical persons when carrying out small retail and regular payments in non-cash form.

1.4. The system is intended for processing of small retail and regular payments of participants on which immediate carrying out final settlement is not required.

2. Terms and determinations

In this Provision the following terms and determinations are used:

The sender - bank sender, and also the participant of system initiating the payment document or the message in system.

The receiver - bank receiver, and also the participant of system receiving the payment document or the message from system.

Chargeback - the payment returned by bank receiver of payment after carrying out final settlement on mistakenly credited amount on its correspondent/current account.

Clearing - process of collection, processing, payment confirmation and calculation of mutual multilateral net line items of participants of system.

Clearing session - the period of time established in system during which clearing is performed. The clearing session comes to the end with final settlement on net line items of participants of system.

Clearing day - the period of time established in system during which clearing is performed. Clearing day can consist of one or more clearing sessions.

The client payer is the client of the sender at the expense of whose money calculation is perfromed.

The client receiver is the client of the receiver for benefit of whom money as a result of calculation arrives.

Priority code - the code determining priority of processing of payment documents in clearing. The code of priority is assigned for the payment document by the sender of payment.

Credit payment - the payment made by bank at the request of the payer about cash write-off from the account of the payer and their transfer into the account of the receiver.

Monitoring - tracking of processes of carrying out payments and risk management in system for the purpose of their restriction or prevention.

Final settlement - the calculation which is carried out on the accounts of financial credit institutions opened in National Bank of the Kyrgyz Republic (further - National Bank), through grossovy settlement system in real time. Final settlement is unconditional and irrevocable.

Paragraph fourteenth ceased to be valid.

Packet - set of the payments or messages sent to one bank receiver, grouped in identical type and settlement date of payments and created in electronic form.

Payment - execution of monetary commitment with use of cash, or transfer process by the payer of non-cash in the form established by the legislation.

Payment with use of bank payment card - the payment arriving in system from the participant after processing in the single interbank processing center. Payments with use of bank payment card are made in case of payment of goods, works and services, and also receipt of cash money via ATMs and terminals.

The payment document - the document of the established form which is drawn up by legal entity or physical person according to the legislation and based on which payment is made.

Personnel of system - the specialists of clearing center providing servicing, support and functioning of system.

Preavtorization (preliminary acceptance) - preliminary issue by the client of permission to bank during the certain period of time and (or) within certain amount to debit the settlement/current account in case of receipt of the invoice for payment from the specified receiver of money.

The processing center - the legal entity or his structural division performing collection, processing and mailing of information on the carried-out transactions to the issuer, ekvayer and the calculating agent.

Direct debiting - form of implementation of calculation in case of which the participant performs debiting of customer account and transfer of payment to the receiver based on the preavtorization operating during the certain period of time and (or) within certain amount.

Calculation - cash write-off from the settlement account of the payer and transfer on the settlement account of the receiver according to the submitted payment documents. Calculation is payment completion.

Retail and regular payments - payments on the averages and small amounts which are not urgent and/or regular.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info