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The document ceased to be valid since  August 8, 2021 according to the Resolution of Board of the Central bank of the Republic of Uzbekistan of April 2, 2021 No. 5/10

It is registered

Ministry of Justice

Republic of Uzbekistan

On December 10, 2003 No. 1290

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF UZBEKISTAN

of September 22, 2003 No. 23/4

About approval of Rules of implementation by pawnshops of activities and transactions

(as amended on 14-09-2019)

According to article 50 of the Law of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan" and the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of September 17, 2003 the Board of the Central bank of the Republic of Uzbekistan decides N402 "About Questions of Registration and Licensing of Activities of Pawnshops in the territory of the Republic of Uzbekistan":

1. Approve Rules of implementation by pawnshops of activities and transactions according to appendix.

2. Enact this resolution after ten days from the date of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

 

Acting as chairman of the board of the Central bank
M. Zhumagaldiyev

Approved by Board of the Central bank of the Republic of Uzbekistan of September 22, 2003 No. 23/4

Rules of implementation by pawnshops of activities and transactions

I. General provisions

1. Pawnshops provide to citizens short-term (for the term of not over three months) the credits on the security in the form of pledge (further - pledge) the personal estate intended for private consumption.

Pawnshops have the right to raise funds from commercial banks, loans from legal entities and physical founder persons. At the same time the total volume (remaining balance) of the raised funds shall not exceed actually created authorized capital.

2. Pawnshops have the right to accept on storage from citizens the personal estate intended for private consumption.

3. The pawnshop has the right to perform the activities based on the license for the right of implementation of the activities of pawnshop granted by the Central bank of the Republic of Uzbekistan.

The pawnshop has the right to carry out work with precious metals and gemstones based on the registration certificate issued in the procedure established by the legislation.

Features of implementation of works with products from precious metals and gemstones are established by the legislation.

4. The pawnshop signs with citizens contracts in case of presentation of the passport or other identity document.

In necessary cases the pawnshop has the right to require production of documents or other proofs confirming the property right on pledged or on storage property.

5. Acceptance by pawnshop in pledge or on storage of property, and also the address of collection on pledged property is performed according to the Civil code and the Law "About Pledge".

The property accepted by pawnshop can be issued to the owner only after repayment of all payments which are due to pawnshop.

6. Transfer of the rights to other persons from pawnshop of things is allowed not differently as by proxy the owner of property who is drawn up in accordance with the established procedure.

7. The pawnshop has no right:

use and dispose pledged or on storage of property;

charge percent, charge the fees and penalty (penalty, penalty fee), to apply other measures of responsibility for credit agreements, in the amount more than a half of the amount of borrowing in year;

enforce payments for consideration of the applications, servicing of loan accounts, issuance of credits, and also penalties for early repayment of the credits.

In case of loss, shortage of the property which is stored or in pledge, the pawnshop shall return to the owner its cost on the amount of assessment specified in the mortgage ticket or the safe receipt if does not prove that it occurred owing to force majeure circumstances.

In cases of damage of the property which is stored or in pledge, the pawnshop shall pay to the owner property damage in the amount of, determined by agreement of the parties, but not over a property value, specified in the mortgage ticket or the safe receipt if does not prove that damage happened owing to force majeure circumstances.

8. The pawnshop performs transactions according to these rules, rules about general terms of carrying out transactions and internal regulations.

Rules about general terms of carrying out transactions shall be approved by the supreme body of management of pawnshop based on these rules and contain the following data and procedures:

the limiting amounts and terms of the granted loans;

extreme sizes of rates of remuneration on the granted loans;

conditions of receipt of remuneration on the credits;

requirements to the providing accepted by pawnshop;

procedure for acceptance of property on storage;

rates and rates for the provided services;

rights and obligations of pawnshop and its clients, condition of approach of their responsibility;

procedure for issue to the pledger of duplicates in case of loss of the mortgage ticket;

other conditions, requirements and restrictions which the supreme body of management of pawnshop considers necessary to include in general terms of carrying out transactions.

8-1. The prices and rates for the services rendered by pawnshops are determined only in national currency.

9. General terms of carrying out transactions are open information and cannot be subject of trade secret. Rules about general terms of carrying out transactions are subject to placement in the place available to review by clients of pawnshop.

10. Internal regulations of pawnshop shall be approved by the supreme body of management of pawnshop and determine:

structure of pawnshop, its task, function and power;

rights and obligations of the head and chief accountant;

powers of officials and workers of pawnshop when implementing of transactions by them from his name and at his expense.

II. Procedure for registration and issuance of credits

11. Issuance of credit is on the security made based on the credit agreement and the pledge agreement concluded between pawnshop and the citizen.

The pledge agreement of things in pawnshop is drawn up by issue by pawnshop of the mortgage ticket in form according to the appendix N1.

12. The pawnshop has no right to accept as a deposit property concerning which the address of collection is not allowed.

13. The amount and loan term, and also remuneration rate size is determined by the granted loan by agreement of the parties taking into account requirements of these rules.

14. The property pawned as a deposit for receipt of the credit is estimated by agreement of the parties.

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