LAW OF THE REPUBLIC OF UZBEKISTAN

of August 29, 1998 No. 670-I

About the contractual legal base of activities of business entities

I. General provisions

Article 1. Purposes and tasks of the Law

The purpose of this Law is regulation of the relations arising in case of the conclusion, execution, change and termination of economic contracts between business entities.

This Law determines the legal basis of the conclusion, execution, change and termination of economic agreements, the rights and obligations of business entities, and also competence of public authorities on places and state bodies in the sphere of contractual relations.

Article 2. Legislation on economic agreements

Article 3. Concept of the economic agreement

The economic agreement the agreement owing to which one party shall transfer goods to the caused time, to perform works or to render services in the sphere of business activity is recognized, and other party shall accept goods, works, services and to pay them.

Article 4. The basic principles of contractual relations in the sphere of business activity

The basic principles of contractual relations in the sphere of business activity are:

freedom of the conclusion of economic agreements;

mutual interest of the parties, observance of agreement discipline;

mutual property responsibility of the parties.

Article 5. Subjects of economic agreements

Subjects (parties) of economic agreements are legal entities, and also the physical persons performing business activity without formation of legal entity.

Article 6. Rights of the parties of the economic agreement

The parties of the economic agreement in accordance with the established procedure have the right:

request and receive the references and other documents necessary in connection with the conclusion, execution, change and termination of economic agreements;

request and receive written conclusions of experts, consult at specialists in the questions connected with the conclusion, execution, change and termination of economic agreements;

declare petitions and make complaints to the state and other bodies, officials and to receive from them written motivated answers;

collect the data concerning economic condition, reputation and business qualities of other party;

apply the means and methods of protection of the rights and legitimate interests of business entities provided by the law.

The parties of the economic agreement can have also other rights, stipulated by the legislation and the agreement.

Article 7. Obligations of the Parties of the economic agreement

The parties of the economic agreement shall:

observe requirements of the legislation on economic agreements;

provide timely, the conclusion economic the agreement;

in cases, stipulated by the legislation:

timely and as appropriate to carry out undertaken:

obligations under the signed economic agreements.

The parties of the economic agreement perform also other duties stipulated by the legislation and the agreement.

Article 8. Competence of public authorities on places in the sphere of contractual relations

Public authorities on places within the competence:

coordinate work on the conclusion and execution of delivery agreements of goods, performance of works and rendering services for the state needs, and also agreements of contracting;

take measures for creation of conditions for development of contractual relations between business entities.

Article 9. Competence of state bodies of the sphere of contractual relations

State bodies within the competence:

render assistance in case of the conclusion of economic agreements:

generalize statistical data about economic agreements and condition of their execution;

in stipulated by the legislation cases control process of execution of economic agreements;

render assistance in the organization of works of legal services of business entities, advanced training of legal advisers:

in case of detection of the fact of the violation of the law allowed in the course of the conclusion, execution, change or termination of the economic agreement, in accordance with the established procedure put question of accountability of perpetrators.

II. Procedure for the conclusion, execution, change and termination of the economic agreement

Article 10. Requirements imposed to the economic agreement

The economic agreement shall provide the subject of the agreement, quantity, quality, assortment, the price of the delivered goods (work, service), completion dates, procedure of payments, obligations of the parties, responsibility of the parties in case of non-execution or improper execution of contractual commitments, procedure for the dispute resolution, details of the parties, date and the place of agreement, and also other essential conditions which are established by the legislation for agreements of this type or concerning which according to the statement of one of the parties the agreement shall be reached.

In case of determination of procedure of payments the condition of advance payment of cost of goods (works, services) in the amount of at least established by the legislation shall be provided in the economic agreement.

The parties in case of the conclusion of the economic agreement can be guided by their approximate or standard conditions (forms) developed for agreements of the corresponding type published after passing, legal examination in accordance with the established procedure.

The agreement of contracting is signed in the location of the producer of agricultural products. Advance payments for the delivered agricultural products in sizes shall be provided in the agreement of contracting along with other requirements there is at least, than is stipulated by the legislation.

Article 11. Form of the economic agreement

The economic agreement is signed in writing, provided for transactions. The written form of the agreement is considered observed if the offer to sign the agreement is accepted according to the procedure, the stipulated in Article 12 these Laws.

The agreement to written form it can be concluded by creation of one document signed by the parties and also by exchange of documents by means of the mail, cable, teletype, telephone, electronic or other service allowing to determine authentically that the document proceeds from the agreement party.

Article 12. Conclusion of the economic agreement

The economic agreement is signed, as a rule, by the direction of the offer (the offer to sign the agreement) of one of the parties and its acceptance (adoption of the offer) by other party.

The economic agreement is considered the prisoner if between the parties the agreement on all essential terms of the contract is reached.

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