Theoretical and Legal Bases of the Organization of Bank Guarantee Relations in Commercial Banks
Keywords:
Guarantor, Principle, Bank Guarantees, Financial Guarantees, Liquidity, Beneficiary, Principal Lender, Lending, Opening Letters of Credit
Abstract
In this article, Bank guarantees are one of the most widely discussed issues by economists and lawyers. While economists think about the importance and types of bank guarantees in the formation of payment guarantees, reduction of receivables and payables, commission income, sales of goods, services, lending and other economic relations, lawyers focus on the guarantee of obligations, contractual relations, civil and business law approach. Both approaches imply the need to study bank guarantees. A guarantee is to give something as security. A bank guarantee is a guarantee and surety issued by a bank on behalf of its customers for various business obligations within the framework of certain regulatory documents. Commercial banks provide a bank guarantee that promises to reimburse the customer in the event of default.
References
1. Normative-legal documents and publications of methodological significance.
2. The Constitution of the Republic of Uzbekistan. -Tashkent, Uzbekistan. 2001
3. Law of the Republic of Uzbekistan "On Accounting". –T .: 2016 y.
4. Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan". –T .: 2019 y.
5. Law of the Republic of Uzbekistan "On Banks and Banking". –T .: 2019 y.
6. Decree of the President of the Republic of Uzbekistan No. PF-5992 of May 12, 2020 "On the strategy of reforming the banking system of the Republic of Uzbekistan for 2020 - 2025".
7. Decree of the President of the Republic of Uzbekistan No. PF-5978 of April 3, 2020 "On additional measures to support the population, sectors of the economy and businesses during the coronavirus pandemic".
8. Decree of the President of the Republic of Uzbekistan No. 5296 of January 9, 2018 "On measures to radically improve the activities of the Central Bank of the Republic of Uzbekistan".
9. Decree of the President of the Republic of Uzbekistan No. 5177 of September 2, 2017 "On priority measures to liberalize foreign exchange policy".
10. Decree of the President of the Republic of Uzbekistan No. PF-4947 of February 7, 2017 "On the Strategy of Actions for the further development of the Republic of Uzbekistan".
11. Resolution of the President of the Republic of Uzbekistan dated February 24, 2020 No PP-4611 "On additional measures for the transition to international financial reporting standards".
12. Umarov Zafar, Toshpulatova Shakhrizoda How to improve customer service in the banking industry // Наука и образование сегодня. 2019. №1 (36). URL: https://cyberleninka.ru/article/n/how-to-improve-customer-service-in-the-banking-industry
13. Umarov, Z. How to improve customer service in the banking industry / Z. Umarov, Sh. Toshpulatova // Наука и образование сегодня. – 2019. – No 1(36). – P. 29-32. – EDN YTVEYH.
14. Rakhimov, Akmal (2021) "ISSUES OF INCREASING CUSTOMERS SATISFACTION GRADE WITH BANKING SERVICES," International Finance and Accounting: Vol. 2021: Iss. 2, Article 15. Available at: https://uzjournals.edu.uz/interfinance/vol2021/iss2/15
15. Rahimov, A. (2019) "PRACTICAL AND THEORETICAL ASPECTS OF DEPOSIT OPERATIONS OF COMMERCIAL BANKS," International Finance and Accounting: Vol. 2019: Iss. 2, Article 21. Available at: https://uzjournals.edu.uz/interfinance/vol2019/iss2/21
2. The Constitution of the Republic of Uzbekistan. -Tashkent, Uzbekistan. 2001
3. Law of the Republic of Uzbekistan "On Accounting". –T .: 2016 y.
4. Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan". –T .: 2019 y.
5. Law of the Republic of Uzbekistan "On Banks and Banking". –T .: 2019 y.
6. Decree of the President of the Republic of Uzbekistan No. PF-5992 of May 12, 2020 "On the strategy of reforming the banking system of the Republic of Uzbekistan for 2020 - 2025".
7. Decree of the President of the Republic of Uzbekistan No. PF-5978 of April 3, 2020 "On additional measures to support the population, sectors of the economy and businesses during the coronavirus pandemic".
8. Decree of the President of the Republic of Uzbekistan No. 5296 of January 9, 2018 "On measures to radically improve the activities of the Central Bank of the Republic of Uzbekistan".
9. Decree of the President of the Republic of Uzbekistan No. 5177 of September 2, 2017 "On priority measures to liberalize foreign exchange policy".
10. Decree of the President of the Republic of Uzbekistan No. PF-4947 of February 7, 2017 "On the Strategy of Actions for the further development of the Republic of Uzbekistan".
11. Resolution of the President of the Republic of Uzbekistan dated February 24, 2020 No PP-4611 "On additional measures for the transition to international financial reporting standards".
12. Umarov Zafar, Toshpulatova Shakhrizoda How to improve customer service in the banking industry // Наука и образование сегодня. 2019. №1 (36). URL: https://cyberleninka.ru/article/n/how-to-improve-customer-service-in-the-banking-industry
13. Umarov, Z. How to improve customer service in the banking industry / Z. Umarov, Sh. Toshpulatova // Наука и образование сегодня. – 2019. – No 1(36). – P. 29-32. – EDN YTVEYH.
14. Rakhimov, Akmal (2021) "ISSUES OF INCREASING CUSTOMERS SATISFACTION GRADE WITH BANKING SERVICES," International Finance and Accounting: Vol. 2021: Iss. 2, Article 15. Available at: https://uzjournals.edu.uz/interfinance/vol2021/iss2/15
15. Rahimov, A. (2019) "PRACTICAL AND THEORETICAL ASPECTS OF DEPOSIT OPERATIONS OF COMMERCIAL BANKS," International Finance and Accounting: Vol. 2019: Iss. 2, Article 21. Available at: https://uzjournals.edu.uz/interfinance/vol2019/iss2/21
Published
2022-06-07
How to Cite
[1]
Botirovich, E.B. 2022. Theoretical and Legal Bases of the Organization of Bank Guarantee Relations in Commercial Banks. International Journal on Integrated Education. 5, 6 (Jun. 2022), 97-101. DOI:https://doi.org/10.17605/ijie.v5i6.3155.
Section
Articles
In submitting the manuscript to the International Journal on Integrated Education (IJIE), the authors certify that:
- They are authorized by their co-authors to enter into these arrangements.
- The work described has not been formally published before, except in the form of an abstract or as part of a published lecture, review, thesis, or overlay journal.
- That it is not under consideration for publication elsewhere,
- The publication has been approved by the author(s) and by responsible authorities – tacitly or explicitly – of the institutes where the work has been carried out.
- They secure the right to reproduce any material that has already been published or copyrighted elsewhere.
- They agree to the following license and copyright agreement.
License and Copyright Agreement
Authors who publish with International Journal on Integrated Education (IJIE) agree to the following terms:
- Authors retain copyright and grant the International Journal on Integrated Education (IJIE) right of first publication with the work simultaneously licensed under Creative Commons Attribution License (CC BY 4.0) that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors can enter into separate, additional contractual arrangements for the non-exclusive distribution of the International Journal on Integrated Education (IJIE) published version of the work (e.g., post it to an institutional repository or edit it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) before and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
