Electronic trading is proposed to be regulated by a separate law

22 February 2019, Friday

The Ministry of economic development of Russia considers it necessary to adopt a special Federal law regulating relations on the organization of electronic trading. Thus, the draft law is planned, in particular:

transfer trades to universal electronic procedure;

establish a single procedure for bidding in electronic form;

define a single list of electronic platforms operating in accordance with the Federal law of April 5, 2013 № 44-FZ " on the contract system in the procurement of goods, works and services for state and municipal needs";

to introduce uniform requirements for bidders, the composition of the notice of tendering and documentation on them.

Thus, it is expected that the day of electronic bidding will be the working day specified in the notice of their conduct. Moreover, the time of the beginning of such trading will be set by the operators of the electronic platform in accordance with the time of the time zone in which the organizer of electronic trading is located. According to the bill, the "bid increment" will be from 0.5 to 5% of the initial price of the subject of such bidding and will be determined in the notice of their conduct.1 However, it is specified that the organizer of electronic trading within this range will be able to set any "step".

In addition, it is proposed to define a closed list of five circumstances, in the presence of at least one of which electronic bidding will be declared invalid. In particular, this will occur if the deadline for submission of applications for participation in electronic auction will be submitted at least two applications, or if within 10 minutes after the start of e-tendering, none of its members will not submit a proposal on the cost to their subject matter.

The need for the adoption of the bill is explained by the fact that the procedure of electronic trading in Russia is partially regulated, and the current legislation does not contain General rules establishing the principles and rules of their conduct. If adopted, the law will enter into force 180 days after the date of its official publication. Public discussion and independent anti-corruption expertise of the document will be completed on February 27.