About the Borrower's Liability
About the Borrower's Liability
"If the Borrower fails to perform or performs improperly obligations under the Bank Loan Contract, the Bank may:
- charge forfeit (penalty, fine);
- recover from money in the Borrower's bank accounts, except for the cases provided for by applicable laws of the Republic of Kazakhstan;
- transfer the debt for pre-trial collection and settlement to a debt collection agency;
- assign the right (claim) under the Bank Loan Contract in accordance with the provisions of the applicable laws of the Republic of Kazakhstan and the Bank Loan Contract;
- take legal action to recover the amount of debt under the Bank Loan Contract, and foreclose on the pledged property on an out-of-court basis, except for the cases stipulated by the Law of the Republic of Kazakhstan “On Mortgage of Immovable Property”, or through the court;
- apply other measures provided for by the Bank's internal regulatory document, the applicable laws of the Republic of Kazakhstan and the Bank Loan Contract."
Annex to the Banking Services Rules
