Uzbekistan adopts new Law on E-commerce
In Uzbekistan, the new law "On Electronic Commerce" was signed by the president on September 29 which replaces the old version that has been in force since 2004.
The new version of the Law "On Electronic Commerce" was developed on the basis of the goals set in the "Digital Uzbekistan - 2030" strategy
According to the document, the contract in electronic commerce is formalized by agreeing the terms of the agreement between the parties by a confirmation of electronic documents and (or) messages.
E-documents have the same power as paper ones and are signed by hand.
Sellers in e-commerce are:
- Legal entities and individual entrepreneurs engaged in retail and (or) wholesale sales of goods (works and services) on the electronic trading platform;
- Self-employed persons engaged in retail sales of goods (works, services) on the electronic trading platform.
Payments can be made:
- with cash funds - providing the buyer with documents confirming that cash funds have been received through virtual terminals (E-POS) as a means of payment, as well as documents containing information about the seller and the sold goods. through;
- by transferring funds from a bank account - transferring funds from a bank account, including through a personal cabinet or through the system of a payment organization;
- using electronic money - by means of transferring funds in an electronic wallet opened in the electronic money system.
Operators of trading platforms, payment service providers and legal entities providing goods delivery services can implement "escrow" services in their information systems or bank accounts.
During the payment of the goods by the buyer, the provider of the " escrow " service has the right to keep the funds paid by the buyer until confirmation of the receipt of the goods. If the goods are not delivered or do not match the description, the escrow service provider will return the funds to the buyer or, if the goods are accepted by the buyer, the funds will be transferred to the seller's account.
The law will enter into force three months after its official announcement.