Requirement under Uzbek legislation for provision of corporate seals when parties execute PSA
Under general rule, a corporate seal is affixed on commercial contracts to identify and certify that a person has authority to bind a company since there are no public registers with corporate filings and list of directors. The Act on Contractual-Legal Basis for Operations by Business Entities does not set the requirement to affix a corporate seal on contracts, it does, however, refer to “parties details/particulars” by which a local business would mean contact details, registered address, bank details, authorized signatory verified by a corporate seal. In normal circumstances, local business would expect to affix corporate seals on a single-...