Azerbaijan, Baku, March 2 / Trend A. Akhundov /
The Azerbaijani Cabinet of Ministers approved the procedure of considering the requests from banks and non-bank credit organizations (NBCO) to be included in the registry of the State Customs Committee, the decision of the Cabinet of Ministers said on Friday.
The decision takes effect from the date of signing on March 1.
According to the Azerbaijani Customs Code, the customs debt is ensured by the guarantees of the credit institutions having a license to conduct banking activities and included in the registry.
Maximum limits of guarantees ensuring the customs debt, are set at the following level:
|
If the amount of the authorized capital of a credit organization exceeds the minimum level set by the Central Bank |
Banks |
Non-bank credit organizations |
|
|
Obligation on a guarantee, $ |
Obligation on all guarantees, $ |
Obligation on one or several guarantees, $ |
|
|
by 2 times |
1,0 million |
2,0 million |
150,000 |
|
by 1.5 times |
500,000 |
1,0 million |
100,000 |
|
by 1.0 times |
250,000 |
500,000 |
50,000 |
According to the decision, if the debtor does not pay the customs debt secured by a bank guarantee on time, according to the report presented by the customs bodies, credit organizations must pay this amount at their own expense within 10 working days.
"A credit organization is liable for the full and timely implementation of obligations on the guarantees till it is excluded from the registry," the decision said. A credit organization, excluded from the registry, can re-apply for inclusion in the registry only a year after this."
The registry of bank and non-bank credit organizations will be posted at the State Customs Committee's website.