THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND SUPERVISION OF THE FINANCIAL MARKET AND THE FINANCIAL ORGANIZATIONS

of April 28, 2008 No. 55

About approval of Rules of issue by banks of the second level of bank guarantees and guarantees

According to item 4 of Article 331 of the Civil code of the Republic of Kazakhstan, the subitem 4) of Item 1 of article 9 of the Law of the Republic of Kazakhstan of July 4, 2003 "About state regulation and supervision of the financial market and the financial organizations" the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) DECIDES:

1. Approve the enclosed Rules of issue by banks of the second level of bank guarantees and guarantees.

2. This resolution becomes effective after fourteen days from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

3. To department of strategy and analysis (Dilimbetova G. A.):

1) together with Legal department (Sarsenov N. V.) to take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution;

2) in ten-day time from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan to bring this resolution to the attention of the interested divisions of the Agency, Consolidation of legal entities "Association of financiers of Kazakhstan".

4. To service of the Chairman (Kenzhe A.) take measures to publication of this resolution in mass media of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of the Agency Kozhakhmetov K. B.

Approved by the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of April 28, 2008 No. 55

Rules of issue by banks of the second level of bank guarantees and guarantees

1. These rules are developed according to the Civil code of the Republic of Kazakhstan (General part) of December 27, 1994, the Law of the Republic of Kazakhstan of July 4, 2003 "About state regulation and supervision of the financial market and the financial organizations" and establish requirements to issue by banks of the second level (daleebanka) of bank guarantees and guarantees.

2. Issue by bank of the bank guarantee and guarantee is performed according to requirements of these rules, the civil legislation of the Republic of Kazakhstan, the legislation on public procurements, rules about domestic credit policy and rules determining general terms of carrying out the transactions approved by the board of directors of bank.

3. Issue by bank of the bank guarantee and guarantee is made in case of accomplishment of the following conditions:

1) availability at bank of the license for carrying out the banking activities provided by subitems 15), 16) of Item 2 of article 30 of the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan";

2) availability of written consent of person debtor to provision by bank of information about him and the issued bank guarantee or the guarantee in the database of credit bureaus with the subsequent submission by bank of the specified data to credit bureaus.

4. For the purposes of these rules, issue by bank of the bank guarantee or guarantee, and also presentation of requirements for obligation fulfillment according to the bank guarantee or the guarantee provides their registration in writing.

5. The bank guarantee agreement or guarantees shall contain:

1) the name of legal person debtor or surname, name, (middle name - in the presence) physical person debtor at the request of whom the bank issues the bank guarantee or the guarantee;

2) the name of legal person creditor of the debtor or surname, name, (middle name - in the presence) physical person creditor for benefit of whom the bank issues the bank guarantee or the guarantee;

3) the bank name, issued the bank guarantee or the guarantee;

4) number and date of the bank guarantee agreement or guarantee and number, and document date (ov) in which need of issue of the bank guarantee or guarantee is provided;

5) the maximum sum of money which is subject to payment according to the bank guarantee agreement or guarantees if other is not established by the bank guarantee agreement or guarantees;

6) providing methods according to the issued bank guarantee or the guarantee if other is not established by the bank guarantee agreement or guarantees;

7) the term for which the bank guarantee or the guarantee, or circumstance (event) in case of which approach the obligation of the bank which issued the bank guarantee or the guarantee (effective period of the bank guarantee or guarantee) stops is issued if other is not established by the bank guarantee agreement or guarantees;

8) conditions under which there comes the banking liability (payment implementation) according to the issued bank guarantee or the guarantee.

6. Depending on structure of the parties participating in the obligation, the bank on behalf and at the expense of the debtor for ensuring obligation fulfillment of the debtor before the guarantor can issue the counter bank guarantee (further - counterguarantee) for benefit of other bank guarantor which issued the bank guarantee for benefit of the debtor's creditor.

7. The agreement of bank counterguarantee shall contain:

1) the name of legal person debtor or surname, name, (middle name - in the presence) physical person debtor at the request of whom the bank issues bank counterguarantee;

2) the bank name, issued bank counterguarantee for benefit of bank guarantor;

3) the name of bank guarantor for benefit of which at the request of the debtor the bank issues bank counterguarantee;

4) the name of legal person creditor of the debtor or surname, name, (middle name - in the presence) physical person creditor for benefit of whom the bank guarantor issues the bank guarantee;

5) number and date of the agreement of bank counterguarantee and number and document date (ov) in which need of issue of bank counterguarantee is provided;

6) the maximum sum of money which is subject to payment under the agreement of bank counterguarantee if other is not established by the agreement of bank counterguarantee;

7) providing methods on the issued bank counterguarantee if other is not established by the agreement of bank counterguarantee;

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