Article 17. The procedure and terms of payment of the insurance premium of the Law On Compulsory Insurance of Civil Liability of Auditing Organizations

Home / RLA / Article 17. The procedure and terms of payment of the insurance premium of the Law On Compulsory Insurance of Civil Liability of Auditing Organizations

1. The procedure and terms of payment of the insurance premium under the contract of compulsory liability insurance of auditing organizations are established by agreement of the parties.

2. Unless otherwise provided by the contract of compulsory liability insurance of audit organizations, the policyholder is obliged to pay the insurer a penalty for late payment of the next insurance premium as for the misuse of other people's money in the manner and amount established by the Civil Code of the Republic of Kazakhstan.

3. The insurer provides an opportunity to pay the insurance premium in a non-cash manner through the insurer's online resource.

The Law of the Republic of Kazakhstan dated June 13, 2003 No. 440.

This Law regulates public relations arising in connection with compulsory insurance of civil liability of audit organizations, and establishes the legal, economic and organizational basis for its implementation.

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Republic of Kazakhstan

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