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. […]

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 […]

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 […]