Certain restrictions on receiving and making payments in foreign currency

Uzbek law provides for many payment restrictions in foreign currency, mainly, in the area of export and import operations. For example, export payments rules in Uzbekistan include the following.

It is a statutory requirement established for all companies for any export contract by the Presidential Edict UP-1154 which prohibits delivery of goods without 15% advance payment. Furthermore, Presidential Edict UP-1363 requires a bank guarantee for the remaining portion of export value (85%), and State Customs Committee is strictly instructed not to allow delivery of exportable goods without a bank’s guarantee from a foreign counterpart. However, under Presidential Edict UP-1831 it is established from September 1, 1997 that a production enterprise with foreign investments which exports own production for freely convertible currency ...

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Certain restrictions on receiving and making payments in foreign currency

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All payments currently accepted via bank transfers only. Please complete a form below to receive an Agreement for our product and invoice.