Settlement of problem debt

Conditions and procedure for debt settlement and measures applied in relation to an insolvent lessee/borrower

Conditions and procedure for debt settlement

In the event of an overdue debt on obligations, the lessee/borrower has the right to visit the Company and (or) submit in writing or in the manner provided for in the leasing/loan agreement, a statement containing information about the reasons for the delay in fulfilling the obligation under the agreement, income and other confirmed circumstances ( facts) that determine his application to amend the terms of the contract, including those related to:

1) Deferment of payment of the principal debt and (or) interest;
2) Changing the payment repayment schedule (extension);
3) Writing off penalties (fines, penalties), commissions and other payments;
4) Other methods that do not contradict the legislative acts of the Republic of Kazakhstan and the terms of the agreement.

Consideration by the Company of changes to the terms of the agreement

The Company, in the manner and within the time limits provided for by internal regulations and current legislation, at a meeting of the authorized body(s), considers proposed changes to the terms of the leasing/loan agreement and in writing or in the manner provided for by the leasing/loan agreement and informs the lessee/borrower about (about):

1) On approval of the proposed changes to the terms of the leasing/loan agreement;
2) Their proposals to change the terms of the leasing/loan agreement (if necessary, to make a decision on granting restructuring, the Company may request a corresponding list of documents);
3) Refusal to change the terms of the leasing/loan agreement, indicating a reasoned justification for the reasons for such refusal.

Measures taken by the creditor in case of failure of the debtor to comply with the requirements

In accordance with the norms of the current legislation of the Republic of Kazakhstan and the terms of the contracts, in the event of non-fulfillment and/or improper fulfillment of the obligations of the lessee/borrower, the Company has the right, in the prescribed manner:

1) At any time (including without sending a preliminary written request to the lessee/borrower) write off in any currency all amounts of overdue debt of the lessee/borrower under the agreement (including, but not limited to, the amounts of: principal, remuneration, commissions, penalties (penalties, fines), duly documented, justified expenses and losses associated with violation by the lessee/borrower of obligations under the agreement) by direct debiting any bank accounts of the lessee/borrower and (or) presentation to the bank accounts of the lessee/borrower opened in any banks (organizations carrying out certain types of banking operations) in the Republic of Kazakhstan or abroad, payment or other documents on the withdrawal (write-off) of money from the accounts of the lessee/borrower, which do not require the acceptance of the lessee/borrower for their execution;
2) Declare unilateral termination of the leasing/loan agreement with a demand for the return of the amount of leasing financing/loan, remuneration, fines (penalties), indexations and amounts of additional expenses;
3) Take restrictive measures - seal the leased asset and/or temporarily confiscate the leased asset;
4) Reclaim the leased asset, including in court;
5) Apply any measures provided for by the legislation of the Republic of Kazakhstan and (or) the terms of the leasing/loan agreement, including changing the terms of execution of the leasing/loan agreement, filing a claim in court to collect the amount of debt under the leasing/loan agreement, as well as foreclosure for pledged property extrajudicially or judicially.