RESOLUTION OF THE PLENUM OF THE SUPREME COURT OF THE KYRGYZ REPUBLIC

of May 31, 2018 No. 12

About some questions of court practice in case of the dispute resolution according to loan agreements

The constitution of the Kyrgyz Republic guarantees everyone judicial protection of its rights and freedoms provided by the Constitution, the laws, international treaties which participant is the Kyrgyz Republic, the conventional principles and rules of international law. Everyone has the right to protect the rights and freedoms by all methods which are not prohibited by the law.

Things, including money and securities, and also other material and non-material benefits belong to objects of the civil laws.

The loan agreement - one of the most widespread methods of emergence of the civil relations.

The parties of the civil relations began to resort to judicial protection of the violated rights, freedoms and interests protected by the law following from the loan relations even more often.

Due to the introduction of amendments to the civil legislation and enforcement since July 1, 2017 of the Code of civil procedure of the Kyrgyz Republic (further - GPK of the Kyrgyz Republic), by results of the carried-out generalization of court practice on this category of cases, and also for the purpose of ensuring the correct and uniform application of the legislation in case of the dispute resolution according to the loan agreements Plenum of the Supreme Court of the Kyrgyz Republic, being guided by the p. 3 of article 98 of the Constitution of the Kyrgyz Republic, article 18 of the constitutional Law of the Kyrgyz Republic "About the Supreme Court of the Kyrgyz Republic and local courts", decides:

1. Draw the attention of courts of the Kyrgyz Republic that the dispute resolution according to loan agreements and the credit is performed according to Chapter 34 (loan and the credit) of the Civil code of the Kyrgyz Republic (further - group of companies of the Kyrgyz Republic). St.st.724-728 groups of companies of the Kyrgyz Republic regulate procedure for the conclusion of the loan agreement, obligation of the borrower and effect of violation by the borrower of the loan agreement, and Art. of Art. 734 - 736-5 groups of companies of the Kyrgyz Republic - procedure for the conclusion of the credit agreement, obligation of the creditor and effect of violation of the credit agreement.

2. According to the loan agreement one party (creditor) transfers to the possession to other party (borrower) the money or other things determined by patrimonial signs, and the borrower shall return to the creditor the same amount of money (loan amount) or equal quantity of other things of the same sort and quality received by it.

The loan shall be drawn up in writing in agreement type, the receipt or other document confirming transfer (obtaining) of money or things if its amount exceeds ten times at least settlement indicator, and in cases when the party is the legal entity, irrespective of the amount.

The loan agreement shall be signed in notarial form if its amount exceeds at least settlement indicator by five hundred times.

The agreement is considered concluded after the date of transmission of money or things.

According to item 3 of Art. 725 of group of companies of the Kyrgyz Republic and the Art. 80 GPK of the Kyrgyz Republic it is necessary to understand any written confirmation of receipt by the borrower of money or things (acts, agreements, references, letters of personal and business nature containing the data concerning the transaction, including received by fax, electronic or other connection or the different way allowing to establish their reliability) proceeding from one of loan agreement parties as the "other document" confirming loan agreement availability.

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