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Saudi Arabia's new e-commerce system will boost growth Featured

The main difference between traditional trade activity and e-commerce in the market.  The market in essence is the space that provides information about the goods or services available by the producers.

Here lies the difference and importance of e-commerce at the same time. The consumer does not need the physical presence of the spatial space in which information is available about the item or service he wishes to purchase.

The "cash for product or service" deal between the product and the consumer can also be done via digital tools. This e-commerce feature provides the hassle of moving to the market, which may be in another country, and provides the ability to identify products that are much broader than those offered by the market Traditional Which is limited to limited geography while the electronic market is a global market without limits, but one of the most prominent obstacles to the electronic market appear in the reliability, in the sense that is the guarantor of the consumer that the product or service that will pay for it will be identical to what is displayed on the electronic platform, The case for the product provider, which wishes to receive the amounts due for its producer from the problem of reliability, which still hinder the expansion of e-commerce in the Arab region.

 Saudi Arabia's Ministry of Commerce and Investment has issued a new law regulating the electronic commerce process to enhance the reliability of electronic commerce in order to increase its contribution to the national economy to achieve the objectives of the vision of the Kingdom in 2030, according to the ministry's statement.

   As for article 26 of the new law, the service provider is required to use the means necessary to protect the consumer data and not to keep it. And the responsibility to maintain the confidentiality of personal data declared by the consumer and to prevent any process of disclosure to any other entity without the consent of the consumer, as regards data on the service provider, Article VI requires the service provider to disclose the procedures B on the buyer to take to the conclusion of the contract and data relating to the service provider, the basic characteristics of the products or services, in addition to the total price, which includes all additions of fees or taxes and arrangements for payment, delivery and implementation.

   The law also guarantees the right of the consumer to cancel the purchase of the "contract termination" within seven days from the date of contracting or receipt of the service, if not benefited from it, and to ensure the refund of payments in case the service provider delayed delivery of the goods / service for more than 15 days.

The details of the new law’s articles mentioned above and other articles indicate the possibility of expanding e-commerce exchanges in the Saudi market , while providing more reliability and transparency in electronic activity, which are essential requirements in the market ranked among the top ten countries in terms of growth of the e-commerce sector, The growth rate of e-commerce in the Kingdom to more than 32%, with a total volume of trade amounting to 80 billion Saudi riyals (about 21 billion dollars) in 2018.

Last modified on Friday, 26 July 2019 21:43
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