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The resolution of November 25, 2008 No. 31-12 is accepted at the twenty ninth plenary session of Inter-parliamentary Assembly of the State Parties of the CIS

MODEL LAW

About electronic trading

Chapter 1. General provisions

Article 1. Purpose and coverage of this Model law

The purpose of this Model law (further in the text - the Law) is legal support of conditions for electronic trading on the basis of recognition of electronic messages, including:

- fixing of the rights and obligations of persons performing electronic trading;

- determination of rules of transactions with use of the electronic messages signed by analogs of the sign manual;

- forming of the legal basis of state regulation and support of electronic trading;

- protection of the rights and legitimate interests of the citizens and legal entities participating in electronic trading.

Article 2. The main terms and determinations used in this Law

For the purposes of this Law the following terms and determinations are used:

the addressee - person to whom the electronic message is sent by the sender or on behalf of the sender, except for persons acting as information intermediaries concerning this message;

the information intermediary - person who on initiative and the order of other person sends receives or stores the electronic message or provides other services concerning these messages;

person performing electronic trading - person performing sales of goods, paid performance of works and rendering services with use of electronic messages;

the sender of the electronic message - person who sends the electronic message or creates accounting record in the database of the receiver of the message;

the participant of electronic trading - the person performing electronic trading, and also person, indirectly participating or promoting making of electronic transactions;

electronic transaction of the transaction - making by the parties of the transaction of separate actions for registration and transaction of subjects and their information systems in electronic trading;

electronic payment system - the system of the organization of electronic financial calculations in network allowing the party of the transaction to manage independently the personal account or other means of payments;

the digital signature - detail of the electronic message in the form of the digital signature or any other electronic analog of the sign manual of physical person;

the electronic procedure - procedure (rules, regulations) for making of electronic transactions according to the transaction;

the electronic transaction - any transaction made by the parties of the transaction by means of carrying out electronic transactions on the transaction;

electronic trading - the trade performed with use of information systems, information and communication network and electronic procedures;

the electronic message - the information prepared, sent, received and stored by means of information systems, information and communication network and electronic procedures;

the electronic agreement - the civil agreement performed on the basis of use of information systems, information and communication network and electronic procedures.

Article 3. Legal regulation of the relations in the sphere of electronic trading

1. Legal regulation of the relations in the sphere of electronic trading is performed on the basis of the legislation and other regulatory legal acts of the state, and also agreements of participants of electronic trading published according to it.

2. If the international agreement (agreement) provides other rules than established by this Law, then provisions of the international agreement (agreement) are applied.

Article 4. The basic principles of legal regulation in the sphere of electronic trading

1. Legal regulation in the sphere of electronic trading is based on the principles of equality of her participants, freedoms of the agreement, free movement of goods, services and financial resources in all territory of the state, free implementation of business activity within electronic trading, and also on guarantees of judicial protection of the rights of participants of electronic trading.

2. Participants of electronic trading acquire and realize the rights, fulfill duties according to the legislation and electronic agreements. Acquisition of rights and implementation by participants of electronic trading of the rights and obligations in the field of electronic trading can be limited only to the national legal system.

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