Joint stock commercial bank “Rysgal”



What kinds of pledges are accepted?

Main kinds of securing of pledges are: the real estate, personal property (agricultural machinery, cars, construction machinery etc.) guarantees of banks, and the guarantee of the third parties.
Main form of securing of credit is property pledge. Subject of a pledge can be any property including property rights (requirements) except the things withdrawn from a circulation which are the property of the Borrower or belong to him by the right of full economic jurisdiction and which can be a pledge subject according to the Law of Turkmenistan “ Concerning Pledges”.
Borrower, whom the property is secured on the right of full economic jurisdiction, carries out pledge of this property with the consent of the owner of this property.

Estimation of pledge,

Involving professionals in pledge estimation, the bank plans to receive comprehensive report in which certain securing parameters will be specified and the data concerning its cost will be proved. Conclusions of the expert are necessary for the creditor. If the estimated price does not conform to transaction parameters, the bank will deny financing. The potential borrower should search for other securing, or  lower the financing sum, having reduced amount of a loan and duration of crediting.

Requirements to pledge

The property and other forms of Bank securing obligations of the Borrower should satisfy the following requirements:

Property pledge remains in pledge till full execution of obligations under the credit contract and compulsory should be insured in bodies of insurance in favour of beneficiary bank.

Pledge replacement

If a pledge subject on the enforced circumstances, the depositor in reasonable term has the right to replace it with other equivalent property at approval by credit committee.