The Commercial Code bill (See File), to regulate the country’s commercial operations, is ready to be debated again on the floor of the National Assembly. The Economic Regime Committee is expected to present the report to initiate its second and final debate in January 2019.
The regulations seek to stimulate commercial transactions through the fair and complementary exchange of goods and services and promote transparency in markets. To this end, it establishes mechanisms such as freedom of contracting and access to quality public and private goods and services. It also defines new guidelines for electronic commercial transactions and credit contracts, as well as new commercial principles and rights for consumers and lenders.
Although the bill has not progressed since October last year, the committee in charge of its review is expected to present a report permitting a second debate of the article this month. Once it reaches the plenary session, backing from the Legislative Assembly would turn it into law.