Ukraine aims to catch world e-commerce train, which is better later than never.
Starting October 2015, the new Law of Ukraine on Electronic Commerce (the “E-Commerce Law”) is applied.
Though previously e-commerce operations were quite widespread in Ukraine, it were poorly addressed by the existing laws with a number of grey zones risky for both business and consumers.
All regular commercial retail sales via Internet are now covered by the E-Commerce Law.
What’s new in the E-Commerce Law?
- The E-Commerce Law confirms already existing e-commerce practices without rather significant changes for the business.
- For the first time in Ukraine, the E-Commerce Law confirms that the electronic agreements are legal.
- A number of quite detailed formal requirements for e-sellers, e-agreements and e-transactions are introduced.
- Timely payment is necessary for electronic agreement to become binding for the parties.
- Sales, which require state licensing, are also allowed via e-commerce, though licensing conditions should be observed.
The E-Commerce Law is also applied for the Ukrainian sales of foreign e-sellers.
What should business do?
- It is time for business to recheck its existing e-sales approaches already applied in Ukraine to ensure it meets the requirements of the E-Commerce Law.
- For businesses who considered entering Ukrainian e-commerce market it could be the right time to start with now more clear legal rules.