The purpose of this Law is to regulate relations in the field of consumer credit.
If an international agreement of the Republic of Uzbekistan establishes rules other than those provided for by the legislation of the Republic of Uzbekistan on consumer credit, the rules of the international agreement shall be applied.
Consumer credit is a credit provided to an individual (consumer) for the purchase of goods (works, services) to satisfy his consumer needs.
A financial consumer credit is a credit provided to the consumer in the form of cash to pay for purchased goods (services).
Commodity consumer credit is a credit provided to the consumer in the form of installment payments for purchased goods, work performed or services rendered.
Organizations providing commodity consumer credit are manufacturing enterprises or organizations selling consumer goods (work, services).
The object of consumer credit may be goods (work, services) intended for the consumer needs of an individual.
The object of consumer credit may not be real estate, as well as other property withdrawn from circulation or limited turnover in accordance with the law.
Consumer credit is granted under a consumer credit agreement (hereinafter referred to as the agreement) on the terms of payment, maturity and security in accordance with the rules for the provision of consumer credit.
Consumer credit is granted to individuals who have income from the results of their activities, a pension and other income (hereinafter — income).
The rules for the provision of consumer credit are established by the organization providing the consumer credit in accordance with this Law.
The rules for granting a consumer credit should be accessible to the general public and contain the conditions for the provision of a consumer credit, as well as information about the size of the credit, the period for which it was granted, the interest rate, and the schedule for making payments by the consumer.
Sale of goods (work, services) on credit is made at prices valid on the day of sale. A subsequent change in the prices of goods sold (works, services) does not affect the obligations of the parties to the contract.
To obtain a consumer credit, a consumer submits a consumer credit organization, a credit application and other documents containing information about his income, in accordance with the rules for providing a consumer credit.
surname, name, patronymic, series and number of the passport (or document replacing the passport) and the place of residence of the consumer;
An organization providing a consumer credit, within five working days after receiving a credit application, makes a decision on granting or on a reasoned refusal to provide a credit.
In the case of a motivated refusal to provide a consumer credit, the organization providing the consumer credit is obliged to inform the consumer in writing.
When considering a credit application by an organization providing a consumer credit, an analysis is carried out on the subject of:
surname, name, patronymic, series and number of the passport (or document replacing the passport) and the place of residence of the consumer;
amount of advance payment for advance payment of the cost of the purchased goods (work, service), if this is a requirement of the organization providing a consumer credit;
liability of the parties in case of non-performance or improper performance of obligations under the contract;
in the case when the object of a consumer credit is property, transactions with which in accordance with the law require notarization.
Changing the terms of the contract is possible by agreement of the parties, unless otherwise provided by law.
The contract may be terminated by the consumer within a month from the day of written notification of the organization that provided the commodity consumer credit in case of purchase of a product (work, service) of inadequate quality and in the absence of the possibility of exchange for a similar product (work, service) of good quality. Upon termination of the contract, the organization that granted the commodity consumer credit shall return to the consumer the amount of money paid for the purchased goods (work, service).
The consumer has the right to refuse an unused financial consumer credit within two weeks from the date of conclusion of the contract by written notice to the organization that provided the financial consumer credit.
The organization that provided the consumer credit has the right to unilaterally terminate the contract if the consumer does not use the consumer credit within one month from the date of conclusion of the contract by written notice to the consumer.
receive reliable and complete information about their rights and obligations, including all costs associated with the provision of consumer credit;
demand the fulfillment of the terms of the contract in the manner and terms established by the contract;
demand replacement of the purchased product (work, service) of inadequate quality or terminate the contract in the absence of the possibility of exchange for a similar product (work, service) of good quality;
demand from the organization providing the consumer credit compensation for losses incurred as a result of non-performance or improper performance of obligations under the contract.
use the financial consumer credit received at the bank or other credit institution for the intended purpose in accordance with the contract;
repay the received financial consumer credit and pay the accrued interest on it in the manner and terms established by the contract.
The consumer may have other rights and bear other obligations in accordance with the law and the contract.
request from the consumer the documents necessary to provide a consumer credit and fulfillment of obligations under the contract;
demand early repayment of the amount of the granted consumer credit and payment of accrued interest on it in case of late payment.
provide the consumer with reliable and complete information about his rights and obligations, including all costs associated with providing a consumer credit;
provide financial consumer credit or goods (work, service) in the manner and term established by the contract;
replace the product (work, service) with a similar product (work, service) of good quality when providing a commodity consumer credit, making, in case of a difference in price, the necessary recalculation with the consumer;
reimburse the consumer for losses incurred as a result of non-performance or improper performance of obligations under the contract.
An organization providing a consumer credit may have other rights and bear other obligations in accordance with the law and the agreement.
the contract may be concluded before or after the entry into force of the contract for the purchase of goods (services) by the consumer;
the consumer is obliged to notify in writing the manufacturer or organization that sells consumer goods (services) in writing about the receipt of a financial consumer credit.
The provision of financial consumer credit is carried out by transferring money by a bank or other credit organization to the bank account of a manufacturer or an organization selling consumer goods (services) produced in the Republic of Uzbekistan.
The consumer is entitled to repay the amount of the received consumer credit ahead of schedule and pay the accrued interest on it. In this case, interest is paid by the consumer only for the period of actual use of the consumer credit.
The volume of consumer income, as well as the security provided for them to fulfill obligations under the contract, should be sufficient to repay the amount of the consumer credit and pay the accrued interest on it.
Information about the contract for the provision of financial consumer credit and its performance by the borrower is placed in the State Register of Credit Information and is provided by the Credit bureau for the formation of a Credit history and is used in the manner prescribed by law.
If the consumer does not fulfill his obligations under the contract, the guarantor or surety is obliged to return the amount of the consumer credit and pay the accrued interest on it at the first request of the organization providing the consumer credit, after the expiration of its repayment in accordance with the legislation and the agreement.
Persons guilty of violation of the legislation on consumer credit are liable in the prescribed manner.