ARTICLE 24 AS A NORMATIVE PLACEHOLDER: THE CASE FOR STATUTORY REGULATION OF THE ESCROW MECHANISM IN THE ELECTRONIC COMMERCE OF THE REPUBLIC OF UZBEKISTAN

ARTICLE 24 AS A NORMATIVE PLACEHOLDER: THE CASE FOR STATUTORY REGULATION OF THE ESCROW MECHANISM IN THE ELECTRONIC COMMERCE OF THE REPUBLIC OF UZBEKISTAN | Zenodo Skip to main Communities My dashboard Log in Sign up Zenodo is currently experiencing slowness and intermittent outages due to heavy automated traffic from bots and AI crawlers. We are aware of the problem, and our team is focused on stabilizing the service. Thank you for your patience. Published May 4, 2026 | Version v1 Journal article Open ARTICLE 24 AS A NORMATIVE PLACEHOLDER: THE CASE FOR STATUTORY REGULATION OF THE ESCROW MECHANISM IN THE ELECTRONIC COMMERCE OF THE REPUBLIC OF UZBEKISTAN Authors/Creators Shavkatov, Jahongir Shuhratovich (Editor) 1 Show affiliations 1.

Master's Student, Tashkent State University of Law Description The Law of the Republic of Uzbekistan “On Electronic Commerce” of 29 September 2022 No ЗРУ – 792 contains, in Article 24, an isolated reference to a “system of deposit of monetary funds” as a permissible mechanism of settlement in electronic commerce. The provision, however, is essentially a heading without substantive content: it does not specify the contractual structure of the deposit relation, the rights and obligations of its parties, the legal status of the depositary, or the conditions for the release of the funds. The present article examines this normative gap through a comparative reading against articles 860.7 to 860.10 of the Civil Code of the Russian Federation and Articles 53 and 58 of the E – Commerce Law of the People’s Republic of China, identifies the doctrinal reasons for which the introduction of an escrow mechanism is both feasible and necessary in the conditions of contemporary Uzbek civil law, and formulates concrete proposals de lege ferenda for its statutory implementation. The author argues that the escrow construction, properly elaborated, would neutralise the temporal asymmetry between payment and performance that lies at the structural root of consumer-protection failures in online transactions. Files 234-240.pdf Files (237.3 kB) Name Size Download all 234-240.pdf md5:35d3a931dc425076b0a2c631f6668461 237.3 kB Preview Download Additional details References 1. Asgaonkar A., Krishnamachari B. Solving the Buyer and Seller's Dilemma: A Dual – Deposit Escrow Smart Contract for Provably Cheat – Proof Delivery and Payment for a Digital Good without a Trusted Mediator // IEEE International Conference on Blockchain and Cryptocurrency (ICBC). – 2019. – P. 262 – 267. 2. Civil Code of the Russian Federation (Part Two) of 26 January 1996 No 14-FZ. – Chapter 45, § 3 "Escrow Account", Articles 860.7 – 860.10. 3. Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market (PSD2) // OJ L 337, 23.12.2015. – P. 35 –127. 4. E-Commerce Law of the People's Republic of China, adopted on 31 August 2018 (in force as of 1 January 2019). 5. Erlikh Ya. Conditional Deposit (Escrow): Why Is the New Contractual Construction Needed and How Does It Work? // Ekonomika i Zhizn'. – 2018. – 6 September. 37 Views 17 Downloads Show more details All versions This version Views Total views 37 37 Downloads Total downloads 17 17 Data volume Total data volume 4.3 MB 4.3 MB More info on how stats are collected.... Versions External resources Indexed in OpenAIRE Communities Keywords and subjects Keywords escrow, electronic commerce, payment guarantee, Article 24, conditional deposit, consumer protection, civil law of Uzbekistan, comparative law, smart contracts, ex-ante mechanisms. Details DOI DOI Badge DOI 10.5281/zenodo.20029659 Markdown [](https://doi.org/10.5281/zenodo.20029659) reStructuredText .. image:: https://zenodo.org/badge/DOI/10.5281/zenodo.20029659.svg :target: https://doi.org/10.5281/zenodo.20029659 HTML <a href="https://doi.org/10.5281/zenodo.20029659"><img src="https://zenodo.org/badge/DOI/10.5281/zenodo.20029659.svg" alt="DOI"></a> Image URL https://zenodo.org/badge/DOI/10.5281/zenodo.20029659.svg Target URL https://doi.org/10.5281/zenodo.20029659 Resource type Journal article Publisher Zenodo Published in Ethiopian International Journal of Multidisciplinary Research, 13(5), 234-240, ISSN: 2349-5707, 2026. Languages English Rights License Creative Commons Attribution 4.0 International The Creative Commons Attribution license allows re-distribution and re-use of a licensed work on the condition that the creator is appropriately credited. Read more Citation Export Technical metadata Created May 4, 2026 Modified May 4, 2026 Jump up About About Policies Infrastructure Principles Projects Roadmap Contact Blog Blog Support Help FAQ Developers REST API OAI-PMH Contribute GitHub Donate Funded by Powered by CERN Data Centre & InvenioRDM Status Privacy policy Cookie policy Terms of Use This site uses cookies. Find out more on how we use cookies Accept all cookies Accept only essential cookies

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