RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of December 5, 1997 No. 3418

About approval of the Regulations on the State-owned transport-forwarding company of Turkmenistan

Approve the enclosed Regulations on the State-owned transport-forwarding company of Turkmenistan.

Approved by the resolution of the President of Turkmenistan of December 5, 1997 No. 3418

Regulations on the State-owned transport-forwarding company of Turkmenistan

1. The state-owned transport-forwarding company of Turkmenistan, is referred to as as Turkmentransekspedition, is the state body performing the activities on the basis of complete cost accounting, self-financing and self-sufficiency and accountable to the Cabinet of Ministers of Turkmenistan.

Turkmentransekspedition according to the current legislation of Turkmenistan makes decisions concerning regulation of the financial and economic relations, funds of payment and work incentives, limits of maintenance costs of management personnel.

The number of staff of central office of Turkmentransekspedition and his structure affirm the Company in coordination with the Cabinet of Ministers of Turkmenistan.

2. Turkmentransekspedition in the activities is guided by the Constitution of Turkmenistan, the laws of Turkmenistan, acts of the President of Turkmenistan, Majlis of Turkmenistan and the Cabinet of Ministers of Turkmenistan, and also this Provision.

3. Turkmentransekspedition builds the work in close interaction with the interested ministries and departments, the companies and the organizations of all patterns of ownership.

4. The main objectives of Turkmentransekspedition are:

ensuring transport-forwarding servicing of the export, inward and transit cargoes performed by road, railway, aviation, sea and river transport (transport is referred to as);

cooperation increase on contractual basis with the transport-forwarding companies of the CIS countries and other foreign countries;

enhancement of work with cargo clients on attraction of freights, coordination of the markets of transport and transport-forwarding services;

implementation at the request of cargo clients of complex use of vehicles and determination of optimum route of cargo transportation;

attraction to transportations by transit through the territory of Turkmenistan of foreign freights of all modes of transport, implementation of the commercial transactions connected with it;

implementation on contractual basis of declaring of the freights exported from Turkmenistan;

ensuring cargo insurance at the request of cargo clients;

organization of advertizing activities;

implementation of the best practices of work of the leading international transport expeditions on the basis of implementation of the latest effective technologies.

6. According to Turkmentransekspedition's tasks assigned to it performs the following functions:

develops drafts of plans of freight transportation of the Company according to plans of the transport ministries and departments, performs accounting of the transported freights and currency receipts, constitutes the necessary reporting;

develops within the competence the sizes of contractual rates and charges for the provided forwarding services;

provides on the basis of agreements close interrelation of the Company with all transport organizations and their divisions concerning the organization and coordination of freight transportation, and also chartering and agency service of the Turkmen and foreign tonnage;

studies the directions of cargo flows, places of cargo congestion, will organize additional charge of vehicles along route, performs actions for rational and effective use of vehicles;

studies world market conjuncture of freight transportation, determines optimum conditions for transport-forwarding transactions.

6. Turkmentransekspedition has the right:

be participant of foreign economic activity, create in accordance with the established procedure structural divisions (branches, representations, the agencies) on transport-forwarding servicing, and also joint businesses, to develop and perform the measures directed to growth in volumes of cargo transportation and profitable receipts;

open currency and manatny accounts in bank institutions, issue checks, payment orders and requirements, to receive money from accounts and letters of credit, to accept accounts;

conduct negotiations and sign with organizations, the organizations, firms and certain physical persons of Turkmenistan and other countries agreements and other legal acts, including transportations, insurance, storages and others;

build, acquire, lease and lease service, residential and other premises, and also the transport and other technical means necessary for implementation of productive activity;

within the competence to receive information necessary for the organization and coordination of transportation processes from the transport ministries, departments or their structural divisions;

in case of approach of force majeur circumstances on accomplishment of transportations in the shortest possible time to approve with the transport ministries, departments or their divisions of change and to introduce amendments in route and the organization of transportation process;

make on its own behalf powers of attorney and claims to the organizations, the companies and citizens, to take measures to settlement of the made claim, to appear in court the claimant and the defendant;

sign with the ministries, departments and the forwarding organizations agreements (agreements) on freight forwarding in the international message;

represent to the transport ministries and departments:

a) requests for sending, receipt and transit of freights according to the main or additional plans;

b) monthly settlement materials (reconciliation statements) with transport organizations for transportation of goods and implementation of other work types;

c) information on the forthcoming export-import cargo flows and handling works.

7. To Turkmentransekspeditsy the Chairman appointed to position and exempted from it by the President of Turkmenistan heads.

8. Turkmentransekspedition's chairman:

independently resolves issues of productive activity of the Company;

performs employment; movement, dismissal of employees of central office;

provides control of respect for labor and production discipline, establishes internal rules and procedures of day, creates proper working conditions and rest for employees;

in coordination with the Cabinet of Ministers of Turkmenistan appoints to position and exempts the chief accountant and heads of leaders of structural divisions of the Company;

provides high-quality accomplishment at the scheduled time of orders of the President of Turkmenistan and the Cabinet of Ministers of Turkmenistan;

acts on behalf of the Company, represents its interests, resolves financial issues, signs contracts (contracts) including labor, issues powers of attorney, opens in banks settlement (manatny, currency) and other accounts, owns and uses the property transferred to the order of the Company;

issues orders, instructs also the orders obligatory for execution by all employees of central office and heads of structural divisions;

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