ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of April 15, 1998 No. 341

About approval of the Regulations on procedure and conditions of the organization of leasing in agricultural industry

The government of the Republic of Kazakhstan decides:

Approve the enclosed Regulations on procedure and conditions of the organization of leasing in agricultural industry.

 

Approved by the order of the Government of the Republic of Kazakhstan of April 15, 1998 No. 341

Regulations on procedure and conditions of the organization of leasing in agricultural industry

I. GENERAL TERMS

1. This Provision determines the basic rules of use of the means provided by the Law of the Republic of Kazakhstan of December 9, 1997 N 201-1 "About the republican budget for 1998" (daleesredstvo) on the program of the organization of leasing in agricultural industry (further - the Program) in the amount of 1 000 000 000 (one billion) tenges.

2. Funds are allocated for acquisition and operation of new agricultural machinery (further - lizingtekhnik), as a rule, the Kazakhstan production by agricultural producers on leasing basis with ensuring return of means to the republican budget.

3. The Ministry of Finance of the Republic of Kazakhstan (further - the Ministry of Finance) and the Ministry of Agriculture of the Republic of Kazakhstan (further - the Ministry of Agriculture) attract to program implementation as the agent the State fund of financial support of agricultural industry (further Fund), having signed with it the relevant agreement.

The fund in the relations with subjects of leasing acts as the representative of the Ministry of Finance and Ministry of Agriculture and pursues their financial and production and technological policy, controls target use and return of means.

4. The main subjects of leasing are:

Fund as the investor;

producers and suppliers of agricultural machinery (further - suppliers);

lessors - legal entities, residents of the Republic of Kazakhstan;

leasing recipients are agricultural producers;

banks of the second level as investors, guarantors, creditors, pledgers, pawnbrokers;

Can be additional subjects of leasing:

insurance companies;

transportation companies;

the companies on maintenance and repair of agricultural machinery.

The manufacturing plant also can act as the Lessor.

5. The Ministry of Finance transfers budgetary funds to the special account to "eskro" of Fund.

6. For coordination of work on accomplishment of the Program under the Ministry of Agriculture the leasing commission is created (further - the Commission). The structure of the Commission affirms the Minister of Agriculture.

7. The commission performs on competitive basis selection of authorized lessors (further - lessors).

The most important selection criterion of lessors is availability of the partner bank (further - Bank) providing:

a) guarantee of return of means to the budget;

b) joint financing and financing of leasing transactions;

c) timeliness of leasing payments.

8. The fund and the lessor sign the General leasing agreement about the main financial and specifications of leasing, obligations and the rights of the parties.

9. The lessors having debt to Fund have no right to participate in the Program of leasing of 1998.

II. DETERMINATION OF THE NOMENCLATURE AND SUPPLY RATES OF PRODUCTS OF MECHANICAL ENGINEERING

10. The main directions of the Program, the nomenclature and supply rates of products of mechanical engineering which operation is performed on leasing basis (further - the nomenclature and amounts) and expense budget of projects are determined and approved by the Commission. The realization of decisions of the Commission is enabled through Fund.

11. The nomenclature and amounts are created by lessors by orders of agricultural producers, the organizations for logistics of agro-industrial complex and affirm the Commission on the basis of the following main criteria:

a) minimum price and minimum transportation costs of delivery of specific types of agricultural machinery.

The commission for the purpose of maintenance of fixed prices and current of long time, at least three months, on lizingtekhnik charges to lessors to generalize and prepare offers on the solution of these questions. Not later than ten days prior to the beginning of quarter supplier plants based on calculations make offers on need of change of price level. Within ten days the Commission with participation of lessors considers them and makes the relevant decision;

b) indexation of cost lizingtekhnik is not made for calculation of leasing payments during all effective period of the leasing agreement;

c) security level (in comparison with standard rates) machines and the equipment of this type. Import machine-building products are acquired in coordination with the Commission;

d) qualities of machine-building products and its compliance to the advanced scientific and technical achievements;

e) creations of conditions of intereconomic use of agricultural machinery on the principles of cooperation.

12. The fund on the basis of means, nomenclatures, amounts creates quotas for each lessor which are fixed in General agreements and are obligatory for execution (further - quotas).

III. CARRYING OUT LEASING TRANSACTIONS

13. The lessor and the leasing recipient, with the assistance of as necessary Bank, on the basis of quota and the order sign the leasing agreement in which enshrine financial and specifications of leasing, guarantee, obligation and the right of the parties.

14. The lessor on the basis of quota:

1) signs contracts, with the assistance of as necessary Bank:

a) with suppliers (producers) of products of mechanical engineering;

b) with transportation companies about transportation of products of mechanical engineering to base of the leasing recipient or the lessor;

c) with insurance companies;

Will organize 2) and controls shipment and transportation of these products;

Pays 3) from own means:

a) to the supplier mechanical engineering products cost;

b) transportation company cost of transport services;

c) insurance company cost of insurance services.

4) in case of shortage or lack of own means for accomplishment of the subitem 3, the lessor takes for these purposes the credit in Bank, having signed with it the corresponding credit agreement.

15. The bank transfers funds into the settlement account of the supplier (or with the consent of the supplier gives payment guarantees), according to the provided invoice of the lessor for payment to the supplier of cost of machines and the equipment after the lessor confirms compliance on quality and completeness to requirements of state standard specification and TU of the received equipment and execution of shipment documents by the supplier.

16. Product acceptance of mechanical engineering by the leasing recipient is drawn up by the delivery-acceptance certificate signed by representatives of the leasing recipient and the lessor. Products of mechanical engineering only accepted under the act by the leasing recipient are recognized Fund object of leasing and it is considered lizingtekhniky.

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