LAW OF THE AZERBAIJAN REPUBLIC

of May 10, 2005 No. 908-IIQ

About electronic trading

This Law determines the legal basis for the organization and implementation of electronic trading in the Azerbaijan Republic, the rights and obligations, and also responsibility of her participants for violation of the law about electronic trading.

Chapter I. General provisions

Article 1. Basic concepts

1.0. In this Law the following basic concepts are used:

1.0.1. Electronic trading - sales activity of goods, (including loading through the Internet of e-books, music, audio-video of materials, graphical representations, virtual games, the software, advertizing, other similar work and services), performed with use of information systems;

1.0.2. Participants of electronic trading - physical persons and legal entities which when implementing electronic trading act as the seller (supplier), the buyer (customer) and the intermediary in electronic document management;

1.0.3. The seller (supplier) - the participant of electronic trading performing sales of goods (performance of works, rendering services);

1.0.4. The buyer (customer) - the participant of electronic trading performing purchase of goods (ordering works, services);

1.0.5. The intermediary in electronic document management (daleeposrednik) - the physical person or legal entity providing services in electronic document management between the sender and the receiver of the electronic document;

1.0.6. The commercial message - the message directed directly or indirectly to promotion of goods, performance of works, rendering services by the seller (supplier) or forming of its image;

1.0.7. The POS terminal - the equipment intended for carrying out transactions by means of payment cards including receipts of cash;

1.0.8. the card organization - the center rendering maintenance of transfer, collection, processing and clearing of data on the operations performed by means of cards including issues of cards and acquiring (banks and other legal entities performing processing activities), or representation, branch or other division of the international card organization in the Azerbaijan Republic;

1.0.9. electronic cash purse - the software allowing to store the money listed by physical persons and legal entities and to make electronic payments according to their order, which is not considered as bank or credit institution.

Article 2. Scope of the Law

2.1. This Law extends to the electronic trading performed in all other spheres in the Azerbaijan Republic, except for the financial market, including the market of insurance and securities.

2.2. The relations connected with electronic trading in the financial market including in the market of insurance and securities, are regulated by other legal acts of the Azerbaijan Republic.

2.3. This Law does not extend to agreements which are subject to the notarial certificate or state registration based on the legislation of the Azerbaijan Republic.

2.4. The relations in connection with the organization and implementation of electronic trading in the Alyatsky free economic zone are regulated according to requirements of the Law of the Azerbaijan Republic "About the Alyatsky free economic zone".

Article 3. Legislation of the Azerbaijan Republic on electronic trading

3.1. The legislation of the Azerbaijan Republic on electronic trading consists of the Constitution of the Azerbaijan Republic, the Civil code of the Azerbaijan Republic, the Law of the Azerbaijan Republic "About the digital signature and the electronic document", this Law and other regulatory legal acts, and also international treaties which participant is the Azerbaijan Republic.

3.2. The questions connected with the conclusion of transactions electronically are regulated by this Law and the legislation on electronic document management, and the questions connected with content and execution of the obligations arising from transactions, except for the questions provided by article 10 of this Law, the civil legislation.

Chapter II. Organization of electronic trading

Article 4. Basic principles of electronic trading

4.1. Legal regulation of electronic trading in the Azerbaijan Republic is based on the following principles:

4.1.1. equal rights of participants;

4.1.2. freedom in declaration of will of participants;

4.1.3. property independence of participants;

4.1.4. security of property;

4.1.5. freedom of the agreement;

4.1.6. free implementation of business activity;

4.1.7. free and fair competition;

4.1.8. free movement of goods, services and financial resources;

4.1.9. guarantee of protection of the rights in court.

4.2. Restrictions for acquisition of rights and implementation of the rights and obligations of legal entities and physical persons in the field of electronic trading are entered only based on the legislation of the Azerbaijan Republic.

4.3. Special permission (license) for implementation of electronic trading is not required. If electronic trading is done in fields of activity for which it is necessary to get special permission (license), the seller (supplier) shall get special permission (license) for these activities according to the procedure, established by the legislation.

4.4. Legal entities and physical persons acquire and perform the rights and obligations in the field of electronic trading on the basis of the legislation and agreements signed by them.

Article 5. Requirements to participants of electronic trading

5.1. The legal entity from the moment of state registration and the physical person who is engaged in business activity without formation of legal entity from the moment of acquisition of right to occupation business activity can start activities as the seller (supplier) according to the procedure, corresponding to the current legislation, except as specified, providing special permission (license) for activities according to the legislation of the Azerbaijan Republic.

5.2. All information provided by the seller (supplier) to buyers (customers) shall be in Azerbaijani or in other language approved by the parties, in shape, clear and unambiguously understood by the buyer (customer) who does not have special knowledge.

5.3. The seller (supplier) shall create to buyers (customers) and competent state bodies opportunity for acquaintance with the following necessary information about himself:

5.3.1. name, state registration, form of business, address of the legal entity or surname, name and middle name, address of physical person;

5.3.2. contact information (phone, fax, addresses of the Internet and e-mail);

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