Article 11. Repatriation of Assets With Respect to Foreign Trade Operations

Repatriation of assets with respect to foreign trade operations shall be understood to mean the fulfillment of obligations of a non-resident partially or completely by:

receipt of monetary resources or goods (performance of works, provision of services) pursuant to the obligations of a non-resident;

termination of a non-resident's obligation by way of offsetting a similar counter claim;

termination of the obligation which existed between the parties by another obligation between the same parties providing for a different subject or method of performance;

receipt of insurance payment.

Where a resident assigns the right to claim on non-resident to another resident, the corresponding obligation to ensure compliance with the asset repatriation requirement shall pass to the resident who has accepted the right of claim.

A resident (non-resident) shall be obliged to ensure the repatriation of assets with respect to foreign trade operations.

In case where the time limit for assets repatriation in the course of foreign trade operations has exceeded 180 days from the date on which a non-residentʼs obligation had arisen, those operation shall be qualified as a capital movement operation.

The procedure for exercising control and monitoring over the execution of foreign trade operations shall be determined by the Cabinet of Ministers of the Republic of Uzbekistan.