Regulatory Alerts1999-04-14 | 756-IAdded · Updated
Law of the Republic of Uzbekistan On Leasing
The Law of the Republic of Uzbekistan defines leasing as a specific type of financial lease where the lessor purchases an asset for the lessee and provides it for use for over twelve months. It establishes the rights and obligations of lessors, lessees, and sellers, and specifies that leased assets are accounted for on the lessee's balance sheet. The law outlines conditions for ownership transfer, including when lease payments cover at least 90% of the asset's present value, and prohibits the lessor and lessee from being the same entity if the asset is acquired using the lessee's credit.
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