Leasing

Type of leasing: Direct leasing Sale and leaseback

Method of providing leasing: By transferring funds to the supplier’s (seller’s) account for the leased asset.

Purpose of leasing: To provide leasing to corporate clients engaged in business activities for the acquisition of any non-consumable assets, including enterprises, property complexes, buildings, structures, equipment, vehicles, and other movable and immovable property used for business purposes.

Leasing currency: National currency of the Republic of Uzbekistan — Uzbek som. Foreign currency – direct transfer under the import contract.

Leasing term: From 13 to 36 months.

Interest Rate: According to the ALCO Protocol (from 23.99% per annum - in national currency)

from 12.99% per annum - in foreign currency

Risk commission: from 0.07% per day from the date of payment until the transfer of the leased asset (in national currency)

Risk commission: from 0.035% per day from the date of payment until the transfer of the leased asset (in foreign currency)

Minimum lease amount: not established

Maximum leasing amount: Not established; calculated individually based on the client’s creditworthiness, within the framework of the economic regulations of the Central Bank of the Republic of Uzbekistan.

Lease repayment: monthly, annuity or differentiated payments

Acceptable Types of Collateral:

• Option 1- liquid collateral in the form of property, cash deposits, bank guarantees, third-party guarantees, insurance policies, and other types, in an amount not less than 55% of the lease amount.

• Option 2 – advance payment of at least 40% of the leasing amount.

• Option 3 – a combination of Option 1 and Option 2 in the required proportion. 

Mandatory requirements for the lessee:

• Business entities registered in accordance with the legislation of the Republic of Uzbekistan;

• The existence of a basic demand deposit account with InFinBank JSC;

• No negative credit history of the lessee/guarantor;

• Sufficient current or projected cash flows of the lessee/guarantor to ensure timely servicing of the lease;

• The lessee/guarantor must have a liquid balance sheet, and business activities must not be unprofitable;

• Availability of the necessary permits and licenses for the activities carried out, if the lessee’s business is subject to licensing;

• Other requirements for the potential lessee/guarantor, collateral, and conditions for obtaining financing are regulated by the Bank’s Credit Policy and other internal regulatory documents.

Procedure for opening financing:

• Financing is provided after the borrower submits duly executed collateral and insurance for the pledged asset to the Bank.

List of Documents Provided by the Borrower:

• Application describing all leasing terms;

• Borrower’s certificate of state registration;

• Copy of the charter and founding documents of the enterprise, including all amendments;

• Copy of documents confirming the authority of the person to sign the loan agreement on behalf of the borrower, if the person acts as the borrower’s representative, including signature specimens;

• Financial statements in the form of a balance sheet and income statement for the last financial year, as well as for the first day of the current month, breakdown of fixed assets and accounts receivable and payable;

• Feasibility study (FS) or business plan for the project;

• Decision of the Lessee's authorized body to attract the necessary lease amount on the relevant terms and provide additional collateral for the loan;

• If accounts are held in other banks — certificates from the servicing banks confirming the presence/absence of the borrower’s debt under suspense account No. 2, loans, leases, and letters of credit, as well as information on account turnover for the past 12 months in the form of a letter from the servicing bank with a detailed breakdown in electronic format;

• Draft contract for the acquisition or sale of products in accordance with the business plan;

• Contracts and memoranda of understanding for product sales in accordance with the business plan;

• License and other required permits, if applicable to the lessee’s line of business;

• Documents on the additional collateral provided, in accordance with the “Procedure for accepting and evaluating collateral for credit operations carried out by the corporate lending divisions of InFinBank JSC.”

• Additional documentation may be required depending on the nature of the project.