📋 Tender Overview
As noted in the last 5 years the gross production volume in the field of electronic commerce in our country has increased by 48 times to 1.1 trillion. is making up soum. However during the drafting of the current Law On Electronic Commerce adopted in 2015 these opportunities were not sufficiently developed.In addition the global spread of the coronavirus has increased the demand for e-commerce among the worlds population. As a result the online trading system is growing every year.In 2020 alone e-commerce sales grew by 24.9 in China 25.9 in South Korea 14 in the US and 11.7 in Singapore. In Uzbekistan the volume of e-commerce grew by 80.It was noted at the meeting that the current law does not provide enough conditions for the development of the industry. In particular not all e-commerce subjects are covered there are misunderstandings in the practical application of e-commerce documents exchange payment mechanisms and return of goods.The new version of the Law On Electronic Commerce was developed based on the goals set in the Digital Uzbekistan - 2030 strategy and it defines the exact procedure for concluding electronic contracts. In particular the legal force of electronic documents the requirements for the offer the features of storing electronic documents the procedure for implementing an electronic transaction and the conditions for concluding electronic contracts are being legally strengthened.According to the senators the law provides many conveniences in practice. In particular the Law introduces a money deposit system escrow in electronic commerce which provides the opportunity to hold funds in the information system until the buyers conditions are fully satisfied. Another important aspect is that self-employed persons along with legal entities are given the right to participate in e-commerce.Senators believe that the Law On Electronic Commerce will establish direct contractual relations between sellers and buyers in the near future in a transparent and open manner and create a technological market infrastructure that meets international standards. They emphasized that it would be beneficial.
