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

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.

4.2. If the information provided by credit institution is incomplete or false, and also does not meet the requirements of the existing legislation, the State Customs Committee refuses to it entering into the register. At the same time the applicant is notified on refusal in No. form 2, attached to Rules.

The repeated appeal of credit institution concerning entering into the register is considered after elimination of causes of failure.

4.3. The amount of the collection levied for entering of credit institution into the register is established by the Cabinet of Ministers of the Azerbaijan Republic, at the request of the payer collection is paid in national currency of the Azerbaijan Republic or foreign currency at the rate of National Bank of the Azerbaijan Republic on the maturity day.

4.4. Credit institutions join in the register of the 1st following after month of payment of the collection established for entering into the register, acquiring the right of provision of guarantees to customs payment (Appendix No. 4). At the same time the State Customs Committee determines the maximum limit of one bank guarantee provided by credit institution with condition of non-infringement of liquid indicators of bank. In case of excess of this limit the bank guarantee can be accepted by customs authorities only with the written permission of the State Customs Committee.

4.5. The maximum limit of general guarantees of customs payments, if the paid authorized capital of credit institution:

a) exceeds twice the minimum authorized capital determined by National Bank for banks - 0 million US dollars are established in the amount equivalent 2,;

b) exceeds the minimum authorized capital determined by National Bank for banks in time 1,5 - 0 million US dollars are established in the amount equivalent 1,;

c) exceeds the minimum authorized capital determined by National Bank for banks in time 1,0 - 5 million US dollars are established in the amount equivalent 0,.

4.6. The maximum limit of one warranty obligation of the customs payments provided by credit institutions (together with branches) to the served clients, if the paid authorized capital of credit institution:

a) exceeds the minimum authorized capital in time 2,0, 0 million US dollars are established in the amount equivalent 1,;

b) exceeds the minimum authorized capital in time 1,5, 0 thousand dollars of the USA are established in the amount equivalent 500,;

c) exceeds the minimum authorized capital in time 1,0, 0 thousand dollars of the USA are established in the amount equivalent 250,.

4.7. The credit institution is given opportunity of entering into the register for a period of 1 year. After the specified term the credit institution has the right again to address for entering into the register according to these rules.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info