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Notice on the procedure for aligning the periods of overdue debt formation in the "E-Kontrakt" system with the terms of import contracts

Dear Clients,

We inform you that the Bank's Management Board has approved a temporary procedure for aligning the periods of overdue debt formation in the "E-Kontrakt" system with the terms of import contracts. This procedure provides for mandatory coordination with state authorities.

Interaction Procedure:

1. Submission of Application: Business entities (clients) apply to the Bank to coordinate the terms of overdue debt within the framework of projects implemented on the basis of Government resolutions, as well as during the import of equipment, tools, components, and works for their installation and construction.
2. Processing and Forwarding: The Bank conducts an analysis of foreign trade contracts and relevant government decisions. If the possibility of aligning the terms with the contract conditions is confirmed, the Bank forwards the application to the relevant agencies: the Ministry of Investment, Industry and Trade, the Central Bank of the Republic of Uzbekistan, the Tax Committee, and the Customs Committee.
3. Data Update: The Customs Committee updates the debt terms in the "E-kontrakt" system.

Important Information:

• Execution of Payments: In cases of overdue accounts receivable under an import contract (and until the data is updated in the "E-kontrakt" system by the Customs Committee), clients may make payments only subject to the fulfilment of one of the following criteria:
• Release of goods for free circulation (or completion of works/provision of services);
• Use of guaranteed forms of payment (letter of credit, guarantees of foreign banks, insurance policy).

For questions and additional clarifications, please contact your Client Relationship Managers or the Currency Control Department.