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The document ceased to be valid since January 1, 2020 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of December 23, 2019 No. 248

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 February 28, 2011 No. 18

About determination of the list of compulsory provisions of the agreement of bank loan

(as amended on 28-01-2019)

For the purpose of realization of Item 2 of article 34 of the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks) 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.  No. 257 is excluded according to the Resolution of Board of National Bank of the Republic of Kazakhstan of 29.10.2018

1-1. For the purposes of the resolution the following concepts are used:

1) bank - bank of the second level, including Islamic bank when carrying out the banking activity provided by the subitem 3) of Item 1 of article 52-5 of the Law on banks, Development Bank of Kazakhstan joint-stock company, the organization which is performing separate types of banking activities, having the license for implementation of banking loan activities;

2) syndicate of banks - two and more banks joint with the purpose of carrying out joint loan transactions and decrease in possible losses for each participant in case of insolvency of the borrower, when preserving legal and financial independence of the banks entering into syndicate;

3) credit line - the obligation of bank to credit the borrower on the conditions allowing the borrower most to determine time of receipt of bank loan, but within the amount and time determined by rules about domestic credit policy of bank for such form of crediting and the agreement on provision (opening) of credit line;

4) the agreement on provision (opening) of credit line - the agreement of bank loan signed on the conditions allowing the borrower most to determine in the agreement (agreements) or the statement (statements), being (being) integral (integral) part (parts) of the agreement on provision (opening) of credit line, the amount and time of receipt of loan, but within the amount and time determined by rules about domestic credit policy of bank for such form of crediting and the agreement on provision (opening) of credit line;

5) syndicated loan - the bank loan jointly created and provided by two and more banks, being members of syndicate of banks, to the borrower (group of the connected borrowers) based on one agreement of bank loan (with appendix to it, if necessary, and other documents);

6) remuneration - the payment for the granted bank loan determined in percentage expression to loan amount at the rate of the annual size of the money which is due to bank or, in the cases provided by this resolution in fixed amount.

2. The agreement of bank loan (further - the agreement) signed by bank contains the conditions established by the legislation of the Republic of Kazakhstan for agreements of the corresponding type, the conditions determined by agreement of the parties and also compulsory provisions according to the following list:

1) general terms of the agreement;

2) borrower's rights;

3) rights of bank;

4) obligations of bank;

5) restrictions for bank;

6) responsibility of the parties for violation of obligations;

7) procedure for modification of terms of the contract;

8) by provision of syndicated bank loan - the amount or share in loan of each participating bank of syndicate, including with distribution of share of possible losses for each member of syndicate in case of insolvency of the borrower;

9) No. 3 is excluded according to the Resolution of Board of National Bank of the Republic of Kazakhstan of 28.01.2019;

10) No. 3 is excluded according to the Resolution of Board of National Bank of the Republic of Kazakhstan of 28.01.2019;

11) the condition providing that in case of concession bank of the right (requirement) for the agreement to the third party of the requirement and restriction, shown by the legislation of the Republic of Kazakhstan to the creditor's relations with the borrower within the agreement, extend to legal relationship of the borrower with the third party to whom the right (requirement) is yielded.

3. General terms of the agreement contain:

1) date of the conclusion of the agreement;

2) the purpose of bank loan (further - loan) corresponding to the business plan or the feasibility statement on loan and (or) the statement provided by the borrower, except for the loan issued for the term of no more than 1 (one) month, the loan issued within credit line by payment card, the credit the overdraft, and also agreements on provision (opening) of credit line;

3) amount and loan currency;

4) loan term;

5) remuneration rate type (fixed or floating), the remuneration rate size (in annual interests or in fixed amount), the remuneration rate size in reliable annual effective comparable basis according to the resolution of Board of National Bank of the Republic of Kazakhstan of March 26, 2012 No. 137 "About approval of Rules of calculation of rates of remuneration in reliable, annual, effective, comparable basis (actual cost) on loans and deposits" (it is registered in the Register of state registration of regulatory legal acts at No. 7663), for date of the conclusion of the agreement.

Instruction of the size of rate of remuneration in fixed amount is allowed on the loan issued for the term of no more than one month, to the loan issued within credit line by payment card, the credit the overdraft and also the agreement on provision (opening) of credit line.

The size of annual effective rate of remuneration on loan with remuneration rate in annual interests or in fixed amount shall not exceed the extreme size determined by the resolution of Board of National Bank of the Republic of Kazakhstan of December 24, 2012 No. 377 "About limiting approval of the size of annual effective rate of remuneration" (it is registered in the Register of state registration of regulatory legal acts at No. 8306);

6) procedure of payments of floating rate of remuneration if the agreement provides floating rate of remuneration;

7) markup type by provision of commercial credit by Islamic bank (fixed or in percentage expression from goods purchase price);

8) repayment method (cash, via bank transfer);

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