Regulatory Alerts2000-08-13 | 476Added · Updated
Regulations on the Procedure for Carrying Out Factoring Operations by Commercial Banks in the Territory of the Republic of Uzbekistan
This document establishes the rules for commercial banks in Uzbekistan to provide factoring services, defined as financing where banks acquire the right to claim payments from third-party debtors without recourse. It mandates that payment claims must not exceed 90 days, prohibits factoring on debts from insolvent or loss-making entities, and requires specific documentation and notification procedures for contract formation. The regulations also detail accounting standards, risk classification, and the specific requirements for export factoring in foreign currency, while explicitly repealing the previous 1999 version of these rules.
More like this from CBU
We email you every new CBU publication the day it's published.
Topics
Share