Regulatory Alerts1998-08-29 | 670-IAdded
On the Contractual and Legal Basis of the Activities of Business Entities
The Law of the Republic of Uzbekistan regulates the formation, performance, amendment, and termination of economic contracts between business entities. It establishes the legal basis for these contracts, defines the rights and obligations of the parties, and outlines the competencies of local and republican executive authorities in this sphere. The legislation mandates that contracts include specific essential terms, requires advance payments of at least 15 percent of the value of goods, works, or services, and sets forth principles such as freedom of contract and mutual responsibility.
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