Execution of Payment Orders by Banks in Cambodia
Banks in Cambodia have the important job of handling payment orders. To support smooth and secure transactions, Cambodian law provides banks with a legal framework on how to handle these orders, including the actions they must take, the rules they are expected to follow, and the specific situations where they may refuse a payment order. […]
Cambodian Competition Law: Promoting Fair and Competitive Markets
INTRODUCTION In the rapidly evolving market landscape of Cambodia, ensuring fair competition is essential for fostering innovation, protecting consumer interests, and promoting economic efficiency. The Cambodian Competition Law, promulgated to address these concerns, is a critical regulatory framework aimed at preventing anti-competitive practices and maintaining a level playing field for all market participants. This guide […]
Navigating Personal Data and Privacy Protection
In the digital era, personal data has become a critical asset, routinely collected and utilized in various transactions. Recognizing the need for robust data protection, Cambodia is taking significant steps towards a comprehensive legal framework with the introduction of the Draft Law on Personal Data Protection, the Draft Law on Cybersecurity, and the Draft Law […]
Bank Guarantees: Acceptance by the Beneficiary
A bank guarantee is a pivotal financial instrument that fosters trust and security in various commercial and financial transactions. It is essentially a promise made by a bank to cover a debt on behalf of its client, should the client fail to meet their financial commitments. By acting as a guarantor, the bank assumes […]
Exemptions for Anti-Competitive Practices: Conditions and Procedure
A Decision issued on 2 April 2024 (the “Decision”) by the Cambodia Competition Commission (“CCC”), introduces guidelines for exemptions to anti-competitive practices under the Law on Competition. These guidelines aim to balance the need for a competitive market with the potential for specific practices to yield substantial societal and economic advantages for Cambodia. For […]
Key Terms for Bidders In A Private Procurement
A procurement exercise is carried out to serve different purposes and interests, notably for those who launch or participate in the procurement process. For those who organize a procurement activity, their main purpose is to be supplied with goods or services at a lowered cost but with quality assurance. For participants, when participating in a […]
Public-Private Partnerships: Key Documents
The Law on Public-Private Partnerships (the “LPPP”) was promulgated on 18 November 2021, at a time when Cambodia set a clear goal to become an upper-middle-income country by 2030 and a high-income country by 2050. To achieve the goal, key infrastructure such as the transportation and logistics infrastructure needs to be gradually upgraded as […]