On the ratification of the Agreement on the Development in the Eurasian Economic Community of International Leasing of Agricultural Machinery, Machinery, Machinery, Equipment and Vehicles used in agro-industrial complexes

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On the ratification of the Agreement on the Development in the Eurasian Economic Community of International Leasing of Agricultural Machinery, Machinery, Machinery, Equipment and Vehicles used in agro-industrial complexes

The Law of the Republic of Kazakhstan dated November 25, 2011 No. 497-IV.

To ratify the Agreement on the Development of International Leasing of Agricultural Machinery, Machinery, Mechanisms, Equipment and Vehicles Used in Agro-industrial Complexes in the Eurasian Economic Community, signed in St. Petersburg on May 21, 2010.

President

Republic of Kazakhstan

N. NAZARBAYEV

AGREEMENT on the Development of international leasing of agricultural machinery, machinery, mechanisms, equipment and Vehicles used in agro-industrial complexes in the Eurasian Economic Community

The Governments of the member States of the Eurasian Economic Community, hereinafter referred to as the Parties,

Based on the provisions of the Treaty on the Customs Union and the Single Economic Space of February 26, 1999 and the Treaty Establishing the Eurasian Economic Community of October 10, 2000 (hereinafter referred to as the EurAsEC or the Community),

guided by the Concept of the Agro-industrial Policy of the EurAsEC member States, approved by the Decision of the EurAsEC Interstate Council dated March 24, 2005 No. 204,

Striving to implement a coherent policy in order to:

improving the level of technical equipment of the agro-industrial complexes of the Community States;

development of the production of agricultural machinery, machines, mechanisms, equipment and vehicles used in the agro-industrial complexes of the EurAsEC member States;

development of international leasing of agricultural machinery, machinery, mechanisms, equipment and vehicles used in agro-industrial complexes and manufactured in the EurAsEC member States;

to increase the competitiveness of agricultural machinery in the Member States of the Community;

increasing the production of basic agricultural products to ensure the food security of the EurAsEC member States and the Community as a whole;

formation of mechanisms in the Community to protect the rights and interests of subjects of international leasing of agricultural machinery, machinery, mechanisms, equipment and vehicles used in agro-industrial complexes and manufactured in the EurAsEC member States;

attracting investments in the agro-industrial complexes of the Community States,

have agreed on the following:

Article 1

For the purposes of this Agreement, the following concepts are used:

A lease agreement is an agreement under which the lessor undertakes to acquire ownership of the leased item specified by the lessee from a seller (supplier) determined by the lessee and provide the lessee with this item for a fee on the terms specified in the agreement for temporary possession and use. The lease agreement may provide that the choice of the seller (supplier) and the leased item is carried out by the lessor.;

leasing is a set of economic and legal relations arising in connection with the implementation of a lease agreement, including the acquisition of a leased item.;

subleasing is a type of leasing agreement in which the lessee transfers to a third party (the sublease recipient under the sublease agreement) for possession and use for a certain period for a fee in accordance with the terms of the sublease agreement the property received from the lessor under the lease agreement and constituting the leased object. At the same time, the lessee under the lease agreement, acquiring the rights of the lessor in relation to the sublicensee under the sublicensing agreement in accordance with the procedure and taking into account the conditions established by the legislation of the States of the Parties and the agreement, is not exempt from the obligations and responsibilities provided for by the lease agreement to the lessor.;

leasing activity is a type of investment/entrepreneurial activity related to the investment of the lessor's own and/or borrowed funds (investments) to purchase the leased item and transfer it to the lessee under the lease agreement;

the lessor is an individual (if provided for by the legislation of the states of the Parties) or a legal entity that acquires ownership of property and provides it as a leased asset to the lessee for a certain fee, for a certain period and on the terms specified in the lease agreement for temporary possession and use with or without transfer to the lessee of ownership of the leased asset upon termination of the contract leasing;

The lessee is a natural or legal person who undertakes to accept the leased item for a certain fee, for a certain period and on the terms specified in the lease agreement for temporary possession and use.;

resident is a natural or legal person who has the status of a resident in accordance with the laws of the states of the Parties.;

non-resident - a natural or legal person who does not have the status of a resident in accordance with the legislation of the states of the Parties.;

international leasing is a type of leasing related to the implementation of a lease agreement in which the lessor and the lessee are residents of different states of the Parties.;

The subject of leasing is any type of agricultural machinery, machines, mechanisms, equipment and vehicles used in the agro-industrial complexes of the EurAsEC member states.;

seller (supplier) is a natural or legal person who, in accordance with the terms of the contract of sale (delivery) concluded with the lessor, transfers ownership of the leased property to the lessor within a specified period. The seller (supplier) may simultaneously act as a lessee within the same leasing legal relationship.

Article 2

The conditions established by this Agreement are applied by the Parties to the development of international leasing (subleasing) of agricultural machinery, machinery, machinery, equipment and vehicles used in the agro-industrial complexes of the EurAsEC member States.

Article 3

The Parties guarantee to the subjects of international leasing on the territory of their states the protection of rights and interests, which is ensured by the norms of international law and the legislation of the States of the Parties.

The Parties, in accordance with the legislation of their States, ensure the inviolability of property (objects of international leasing) and encourage, within the framework provided for by the legislation of their States, the mobilization of funds from commercial structures, banks and other financial organizations for the development of international leasing.

Article 4

Each of the Parties, in accordance with the legislation of its state, may, if necessary, decide to allocate budgetary funds to its resident lessees to reimburse part of the costs of paying lease payments under international leasing agreements. The procedure for providing budgetary funds to reimburse part of the costs of paying lease payments under international leasing agreements is determined by the Party.

The country of origin of the leased item cannot be the only or one of several conditions for a Party to make a decision on allocating budgetary funds to its resident lessees to reimburse part of the costs of paying lease payments under international leasing agreements.

Article 5

The Parties shall assist, within the framework provided for by the legislation of the States of the Parties, lessors (lessees) in the establishment and development of service centers providing services for the maintenance and repair of agricultural machinery, machinery, mechanisms, equipment and vehicles supplied under international leasing agreements to the economic entities of the EurAsEC member States.

Article 6

The leased item may be insured against the risks of loss (loss), shortage or damage from the moment the property is delivered by the seller until the expiration of the lease agreement, unless otherwise provided by this agreement. The parties acting as the policyholder and beneficiary, as well as the insurance period of the leased item, are determined by the lease agreement.

Article 7

This Agreement does not affect the rights and obligations of the Parties arising from other international treaties to which they are parties.

Article 8

By mutual agreement of the Parties, amendments may be made to this Agreement, which are formalized in separate protocols.

Article 9

Disputes between the Parties related to the interpretation and/or application of this Agreement are resolved primarily through consultations and negotiations.

If the dispute is not settled in this way within six months from the date of the official written request for consultations and/or negotiations sent by one of the Parties to the other Party, then, in the absence of any other agreement between them on the method of its resolution, either Party to the dispute may refer the dispute for consideration to the Court of the Eurasian Economic Community.

Article 10

After the entry into force of this Agreement, it is open for accession by other member States of the EurAsEC. The documents on accession to this Agreement shall be deposited with the depositary.

In respect of the acceding States, this Agreement shall enter into force on the date of receipt by the depositary of the instrument of accession.

Article 11

Each Party may withdraw from this Agreement by sending a written notification to the depositary no later than 6 months before the expiration of the corresponding five-year period of its validity.

Article 12

This Agreement shall enter into force 30 days after the date of receipt by the depositary, which is the Integration Committee of the Eurasian Economic Community, of the last written notification that the Parties have completed the internal procedures necessary for its entry into force.

This Agreement is valid for 5 years from the date of its entry into force. Upon expiration of this period, the Agreement is automatically extended for subsequent five-year periods, unless the Parties decide otherwise.

Done in St. Petersburg on May 21, 2010, in a single original copy in Russian.

The original copy of this Agreement is kept in the EurAsEC Integration Committee, which will send a certified copy to the signatories.

For the Government

Republic of Belarus

For the Government

Republic of Kazakhstan

For the Government

Of the Kyrgyz Republic

For the Government

Of the Russian Federation

For the Government

Republic of Tajikistan

President

Republic of Kazakhstan

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