Article 11. Rights and obligations of the lessor Chapter 2. Legal bases of leasing relations of the Law on Financial Leasing

Home / RLA / Article 11. Rights and obligations of the lessor Chapter 2. Legal bases of leasing relations of the Law on Financial Leasing

1. The Lessor has the right:

1) to claim unpaid lease payments due to him, as well as compensation for losses;

2) to monitor, in accordance with the lease agreement, the fulfillment by the lessee of the terms of the lease agreement;

3) in case of violation by the lessee of the obligations to return the leased item, to demand payment for the time of delay and compensation for losses;

4) claim the leased item from the lessee in cases stipulated by the legislation of the Republic of Kazakhstan.

2. The lessor is obliged to:

1) to acquire ownership from the seller of the leased item agreed with the lessee in order to transfer it to the lessee under the terms of the lease agreement;

2) notify the seller in writing at the conclusion of the purchase agreement that the leased item is intended to be leased to a specific lessee (sublicensee);

2-1) notify the seller in writing that the leased item has been transferred to the possession and use of a new lessee (secondary leasing, subleasing, change of persons in the obligation), within one month from the date of such transfer on the grounds provided for by the legislation of the Republic of Kazakhstan;

3) provide the leased item to the lessee on the terms stipulated in the lease agreement;

4) provide the authorized financial monitoring body with information and information in accordance with the Law of the Republic of Kazakhstan "On Countering the Legalization (Laundering) of Proceeds from crime, financing of terrorism and financing the proliferation of weapons of mass Destruction."

3. The lease agreement may provide for other rights and obligations of the lessor that do not contradict the legislative acts of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated July 5, 2000 No. 78.

This Law regulates the relations arising in the process of financial leasing and is aimed at attracting investments based on leasing activities.

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