The sale through auction of property converted into state revenue has been simplified

Tashkent, Uzbekistan (UzDaily.com) - Resolution of the Cabinet of Ministers “On the procedure for selling property converted to state income through the electronic trading store “E-auksion shop” inline with simplified auction principles” was adopted.

The order does not regulate the implementation:

food products;

motor vehicles;

real estate.

According to the document:

to participate in the auction you must register on the platform. The mortgage amount is 5% of the starting price of the property being sold;

trading begins at 10:00 o’clock on the day following the announcement in the electronic store and continues for 5 working days, until 18:00 o’clock on the last working day;

auctions are held if there are at least 2 participants;

the starting price is determined by the customer.

The following auction step sizes are set:

the first four steps – in the amount of 5% of the starting price;

the fifth and subsequent steps - in the amount of 3% of the starting price.

When setting the starting price in excess of 2,000 sizes of basic estimated value, all auction steps are set at 2% of the starting price.

The auction winner is sent a protocol on the results of the auction with a QR code on the next working day after full payment of the cost of the lot through his personal account.

If the lot is not sold within 2 months from the date of notification of the auction, repeated auctions can be organized with a gradual decrease in the starting price (but not more than 50% of the original price).

The winning bidder must pay the cost of the lot within 3 business days.