of October 4, 2011 No. ZRU-301
About exchange of credit information
Accepted by Legislative house on August 11, 2011
Approved by the Senate on August 26, 2011
The purpose of this Law is relations management in the field of exchange of credit information.
The legislation on exchange of credit information consists of this Law and other acts of the legislation.
If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about exchange of credit information then are applied rules of the international treaty.
In this Law the following basic concepts are applied:
credit deal - the agreement of the credit, loan, leasing, factoring, insurance and other agreements providing on credit money and other property including in the form of advance payment (receipt of advance payment), delay or payment by installments of payment for goods, works and services;
exchange of credit information - interaction of credit bureau, the subject, supplier and user of credit information on collection, processing, the analysis, storage, provision, use and protection of credit information for the purpose of forming of credit history and provision of the credit report;
the subject of credit information - the legal entity or physical person acting respectively as the borrower (debtor), the leasing recipient, the guarantor, the guarantor, the pledger, and also the insurer on credit deal;
the supplier of credit information - the legal entity or physical person providing to credit bureau credit information;
the user of credit information - the legal entity or physical person acting respectively as the creditor, the lessor, the pawnbroker, and also the insurer on credit deal.
Credit information - data on condition of credit deal, obligation fulfillment on the issued providing (pledge, guarantee, the guarantee, risk insurance of default of the credit and other types of providing), and also other information promoting determination of creditworthness, financial condition, solvency, payment discipline and other qualities of the subject of credit information
including data:
the subject and the supplier of credit information allowing to identify;
about obligations of the subject of credit information to pay sum of money under the civil agreement;
about the connected faces of the subject of credit information;
about the property connected with credit deal.
Credit history - the set of credit information created by credit bureau concerning the subject of credit information.
Credit history shall include data: allowing to identify subject of credit information;
about credit deals of the subject of credit information, and also about condition of their execution;
about obligations of the subject of credit information to pay sum of money under the civil agreement; about date of forming of credit history, and also about the credit bureau which created credit history.
Credit history can include also other data according to the agreement on exchange of credit information.
Credit history does not join data on obligations of the subject of credit information to pay sum of money from which completion date there passed more than five years.
The credit report - the document containing the complete or partial information which is part of credit history.
The form, content and procedure for provision of the credit report are determined by the agreement on exchange of credit information.
The credit report is provided to credit bureaus:
to the user of credit information - with the consent of the subject of credit information;
to the subject of credit information - on its request with indication of identification these all suppliers and users of credit information of this subject of credit information.
The credit report is submitted in time, not exceeding two working days from the date of receipt of request by credit bureau about its provision.
The credit report is provided only concerning one subject of credit information.
Credit bureau - the legal entity created in the procedure established by the legislation and rendering services in implementation of exchange of credit information.
Activities of credit bureau are performed based on the license.
The credit bureau which is not the small business entity having the right to have the round stamp containing its full trade name in official language and specifying of the location. In seal the trade name in any other language can be at the same time specified.
The trade name of credit bureau shall contain the phrase "credit bureau". The legal entity who is not meeting the requirements of this Law having no right to use the phrase "credit bureau" in the name.
The credit bureau has the right to have stamps, forms with the trade name and own emblem.
State registration of credit bureau and licensing for implementation of activities of credit bureau (further - the license) are made by the Central bank of the Republic of Uzbekistan.
For state registration of credit bureau and licensing the application with indication of the location (postal address) to which are applied is submitted to the Central bank of the Republic of Uzbekistan;
protocol of general meeting of founders on creation of credit bureau;
constituent documents of credit bureau; information about the head and founders of credit bureau;
documents, confirmatory that parameters and placement of the software and hardware complex providing protection of credit information against unauthorized access, destruction, change, use or disclosure conform to the requirements established by the Central bank of the Republic of Uzbekistan;
document of bank, confirmatory, forming of authorized capital of credit bureau
the bank payment document about payment of the state fee for state registration.
Within thirty days from the date of submission of documents for state registration and licensing the Central bank of the Republic of Uzbekistan performs state registration of credit bureau and grants the license.
Changes and amendments in constituent documents of credit bureau are subject to registration in the Central bank of the Republic of Uzbekistan according to the procedure, stipulated by the legislation.
The amount of the state tax for state registration of credit bureau is determined by the law. For issue of the license to credit bureau the state fee is not collected.
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