Article 12. Rights and obligations of the lessee of the Financial Leasing Act

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1. The Lessee has the right to:

1) own and use the leased item under the terms of the lease agreement;

2) to make demands to the seller regarding the quality and completeness of the leased item, the timing of its delivery and in other cases of improper performance of the contract concluded between the seller and the lessor;

3) unless otherwise stipulated by the lease agreement, suspend lease payments due in the event of a significant violation by the lessor of the terms of the lease agreement until the lessor fulfills its obligations to the lessee under the lease agreement.;

4) unless otherwise stipulated by the lease agreement, to reclaim the lease payments paid to them in advance, upon unilateral termination by the lessor of the lease agreement;

5) unless otherwise stipulated by the lease agreement, to abandon the leased item or require replacement of the leased item, terminate the lease agreement in cases where the leased item has not been delivered, has been delivered with a significant delay or has been delivered with irreparable defects that prevent the use of the leased item for its intended purpose, except in cases where the seller and the leased item are chosen by the lessee;

6) to claim damages in case of non-fulfillment or improper fulfillment by the lessor of the terms of the lease agreement;

7) unless otherwise stipulated by the lease agreement, require a corresponding reduction in the amount of the lease and lease payments if, due to circumstances for which he is not responsible, the conditions of use provided for in the lease agreement have significantly deteriorated.

2. The lessee is obliged to:

1) accept the leased item in accordance with the procedure stipulated by the lease agreement;

2) timely payment of lease payments;

3) use the leased item in accordance with its purpose in accordance with the lease agreement;

4) maintain the leased item in the condition in which it was transferred to it by the lessor, taking into account normal wear and tear and those changes in the leased item that are agreed by the parties;

5) carry out maintenance (including payment of necessary utility bills related to the leased item) and maintenance of the leased item, its routine repairs, at their own expense, unless otherwise provided by the lease agreement or legislative acts;

6) provide the lessor with unhindered access to the leased object, unless otherwise provided by the contract and the legislation of the Republic of Kazakhstan.

3. The lease agreement may provide for other rights and obligations of the lessee 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 relations arising in the process of financial leasing and is aimed at attracting investments based on leasing activities.

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Republic of Kazakhstan

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