A Brief Review of Contracts Law
It is a general business practice in Uzbekistan that all commercial contracts are in writing. However, the Civil Code allows for some simple and locally executed types of contracts to be concluded orally or through the exchange of letters, emails and faxes.
According to Uzbek law, SPAs have to be in writing due to the required inclusion of certain mandatory provisions in the text of a commercial agreement, as well as due to the requirement that certain foreign SPAs be registered with banks and local customs departments. This is discussed in more detail below.