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Home / Archive of headings / IT / Arrested property to be sold at online auctions

Arrested property to be sold at online auctions

Seized property will be realized via single electronic trading platform “E-Ijro Auksion” in Uzbekistan from 1 September 2017.

On 27 July, President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On measures on radically improving the procedures for the sale of property in the execution of judicial acts and acts of other bodies”.

The document criticized public trades of seized property as they do not ensure transparency and fairness. In order to improve situation, the online public trades of seized property is introduced.

The resolution said that online platform will ensure fairness and transparency of the public auctions and provide equal opportunities to purchase real estate, vehicles and other properties.

The presidential document set order of participation of people in the auctions and liabilities of the organizers.

Electronic online auctions will be held daily from 9 am to 6 pm. Participants take part in them remotely, including using appropriate mobile applications.
In electronic online auctions, the winner is determined automatically without any outside interference. The winner of the auction is announced immediately upon completion of the auction with the automatic formation of a protocol on the results of the auction.
The winner of the auction has the right to pay the full value of the acquired property within 5 working days from the date of completion of the auction.

Uzbek leader created State Unitary Enterprise "Center for organizing electronic online auctions", which is the operator authorized to carry out electronic online auctions on a single electronic trading platform E-IJRO AUKSION.
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