Law “On e-commerce” approved 

According to the parliamentary press service, the volume of gross production in the field of e-commerce in Uzbekistan over the past 5 years has increased 48 times and amounts to 1.1 trillion soums.

At the meeting, it was noted that the current law does not provide sufficient conditions for the development of the sphere. In particular, all subjects of e-commerce are not covered, misunderstandings arise in the practical application of the issues of document exchange, payment mechanisms and the return of goods related to e-commerce.

The law “On e-commerce” in the new edition was developed on the basis of the goals defined in the “Digital Uzbekistan – 2030” strategy. The law establishes a clear procedure for concluding electronic contracts. In particular, the legal force of electronic documents, the requirements for an offer, the specifics of storing electronic documents, the procedure for conducting an electronic transaction and the conditions for concluding electronic contracts are legally consolidated.

According to senators, the document creates many conveniences in practice. The law introduces a cash deposit system (escrow), which makes it possible to store funds in the information system until the conditions of the buyer in e-commerce are fully satisfied. Another important aspect is that, along with legal entities, self-employed persons are granted the right to participate in e-commerce.

Senators noted that the law “On e-commerce” will contribute to the establishment of transparent and open direct contractual relations between sellers and buyers in the near future, the creation of a technological market infrastructure that meets international standards. The document has been approved.