Azernews.Az

Contracts with business entities operating in the liberated territories of Azerbaijan are being digitalized, Azernews reports.

This issue is reflected in the amendment made by President of the Republic of Azerbaijan Ilham Aliyev to the decree "On strengthening the necessary state support for expanding access to financial resources for entrepreneurs operating in the liberated territories" and "On approval of rules for obtaining loans and providing guarantees on behalf of Azerbaijan."

According to the rules on providing state guarantees for loans to business entities operating in the liberated territories and subsidizing loan interest rates, after the conclusion of a loan agreement between the authorized organization and the business entity, this agreement (including the payment schedule), the mortgage agreement, and a document confirming the payment of a one-time guarantee fee will be submitted by the authorized organization to the Azerbaijan Business Development Fund Open Joint Stock Company in the form of an electronic document through the information system within five business days.

According to the amendment, in case of failure to submit documents electronically, copies of those documents will be sent through the information system.