Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

It is registered

in the Ministry of Justice

Azerbaijan Republic

On January 8, 1998 No. 87

Approved by the State Customs Committee of the Azerbaijan Republic of December 25, 1997 No. 1103

Rules of consideration of appeals of banks and other credit institutions about entering into the register in the State Customs Committee of the Azerbaijan Republic

(The last edition from 14-05-2010)

1. General provisions

1.2. In the State Customs Committee the register of credit institutions is kept; the credit institutions entered in the register shall observe requirements of the customs legislation of the Azerbaijan Republic.

1.3. According to the Customs code of the Azerbaijan Republic the credit institutions providing guarantees for payment of the financial sanctions and customs payments provided by the customs legislation use the forms of the bank guarantee approved by these rules.

2. The documents required for entering of credit institutions into the register

2.1. The question of entering of credit institution into the register is considered by the State Customs Committee of the Azerbaijan Republic on the basis of the application submitted by it (Appendix 1).

In case of desire of the credit institution which submitted the application for entering into the register, acceptances of guarantees by customs authorities from its branches it shall specify in the statement also addresses of branches, their details, names and surnames of heads and chief accountants of branches.

2.2. The credit institution which submitted the application for entering into the register represents to the State Customs Committee:

a) balance of credit institution for the last accounting year and date certified by signatures of the director, chief accountant and under seal (the balance for the last accounting year is subject to approval by the auditor);

b) the copy of the license of National Bank of the Azerbaijan Republic for carrying out banking activities in foreign currency;

c) notarially attested specimen signatures of persons, competent to sign bank guarantees, and impress of a seal of the company;

d) copy of the document on results of the last audit inspection;

e) the certificate of accomplishment of economic standard rates in activities of credit institution for the last accounting year and date;

e) the turnover sheet for the last accounting year and the date certified by signatures of the first person, chief accountant and under seal.

2.3. The State Customs Committee considers the application of credit institution for entering into the bank register within 30 calendar days from the date of filing of application.

If necessary the State Customs Committee can send request about credit institution in National Bank of the Azerbaijan Republic. In this case the term of consideration of the application is estimated from the moment of submission of the documents stated above and shall not exceed two months.

3. Decision making conditions about entering of credit institutions into the register by the State Customs Committee

3.1. Availability at credit institution of the license of National Bank for carrying out foreign currency transactions.

3.2. Absence at credit institution of debt to customs authority.

3.3. Forming of authorized capital of credit institution at the level constituting at least the size of the minimum authorized fund determined by National Bank for commercial banks.

3.4. Accomplishment of economic standard rates by credit institution for the last accounting year and date.

3.5. Availability at credit institution of sufficient financial and economic opportunities (authorized fund) for provision of bank guarantees to customs authorities.

4. Entering of credit institutions into the register

4.1. After verification of the documents specified in Item 2 of these rules depending on the result meeting the requirements of Item 3, and also after reliability analysis of financial and economic provision of credit institution the State Customs Committee makes the decision on entering of credit institution into the register. To the applicant it is reported about it in the form specified in appendix No. 3 to Rules. The specified document is basis for payment of collection by credit institution for entering into the register.

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