Article 722. Repayment of the loan item of the Civil Code of the Republic of Kazakhstan

Home / Codes / Article 722. Repayment of the loan item of the Civil Code of the Republic of Kazakhstan

1. The borrower is obliged to repay the loan item in accordance with the procedure and terms stipulated in the agreement.

Unless otherwise provided by the agreement, the loan item is considered returned at the time of its transfer to the lender or the transfer of the corresponding money to his bank account.

If the deadline for repayment of the loan item is not set by the agreement, it must be returned by the borrower within thirty days from the date of the lender's request.

The loan item provided without a condition for payment of remuneration may be returned ahead of schedule. The loan item provided with the condition of payment of remuneration may be returned ahead of schedule with the consent of the lender or if this is provided for in the contract.

The loan fee may be paid ahead of schedule at any time, unless otherwise stipulated by the agreement.

2. With the consent of the lender, the borrower's obligations can be fulfilled: under a money loan agreement, by accepting things defined by generic characteristics against the debt; under a loan agreement, by accepting money against the debt. The cost of these items is determined by agreement of the parties.

3. If the agreement provides for the return of the loan item in parts (in installments), then if the borrower violates the deadline set for the return of the next part of the loan item, the lender has the right to demand early repayment of the entire remaining part of the loan item along with the remuneration due, as well as to satisfy its claims by foreclosing on the pledged property (subparagraph 4) paragraph 2 of Article 321 of this Code).

4. If the agreement provides for the payment of remuneration on a loan within the time limits ahead of the repayment of the loan item itself, then in case of violation of the deadline set for payment of remuneration, the lender has the right to demand from the borrower the early repayment of the loan item along with the remuneration due, as well as to satisfy its claims by foreclosing on the pledged property (subparagraph 4) paragraph 2 of Article 321 of this Code).

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases