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MoCI launches initiative to regulate e-auctions

MoCI launches initiative to regulate e-auctions

QNA
Doha
The Ministry of Commerce and Industry (MoCI) on Wednesday announced the launch of an initiative to regulate the activities of electronic auctions by creating an activity ‘electronic auctions’ segment with the aim of organising the commercial process and monitoring money transfer and circulation for this purpose.
The ministry said in a statement that this initiative comes within the framework of its role in supervision, control, and regulation of commercial activities and taking the necessary measures to protect the consumer in terms of his right to obtain high-quality products, to combat commercial fraud and to protect competition, as well as to ensure speed in implementing procedures and to achieve the principle of integrity and transparency in everything related to auctions.
The ministry pointed to conditions and controls necessary for practicing electronic auction activities, which include submitting an application to set up an electronic auction at the Ministry of Commerce and Industry building located in Lusail City accompanied by a list of goods that will be offered during the auction to be held.
The statement clarified the obligations of the license holder in the event of obtaining the approval of the MoCI to hold the auction, including providing the ministry with a list of goods that will be offered in the auction, and announcing the location of the goods offered in the auction no less than 24 hours before its organisation, provided that the location is a public place.
The obligations also include the prohibition of payment through cash directly, and the permission of payments by using ATM cards and bank transfers, with the need to adhere to consumer protection requirements, and to provide the ministry with a list of sold goods, selling prices and buyers’ data after the end of the auction.
The MoCI called for adherence to the regulations, decisions and laws governing the conduct of various commercial activities and to report violations of commercial registration and licenses.

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