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Electronic signatures Today physical and juridical persons are actively using the convenient and fast electronic transactions in the Internet. The extensive mass of these transactions traverse state and national borders. Now electronic commerce is one of the most important parts of the economy and in the future the financial state of the country will depend on it. More and more organizations and individuals make their business transactions through the Internet, so it is peremptory that a constant lawful structure be created for the use of electronic signatures for the contracts and records. The establishment of consistent general principles in order to allot electronic documents with the identical official power as paper documents have will make the people trust e-commerce and will serve for the building of constant well-built national economy. In 1999 the National Conference of Commissioners for Uniform State Laws (NCCUSL) accepted the Uniform Electronic Transactions Act (UETA), a model law for states to allot electronic documents with the identical official power as paper documents.
In the same year the states Pennsylvania and California, ordained UETA. That year this law was ordained by at least 6 states. At the end of 1999, the U. S. Senate and the House of Representatives accepted some variants of laws to make electronic signatures valid. On June 30, 2000, Congress accepted the Electronic Signatures in Global and National Commerce Act ("ESIGN" or "the Act"), to make easier the usage of electronic records and signatures in the US and abroad by guarantying the legality and lawful effect of contracts concluded through the Internet.
Section 101 (c) (1) (C) (ii) of the Act states that businesses must get from their clients electronic consent to get the documents electronically that must be in writing. The Act became valid in October 2000. This is a part of the document that ensures security: AESIGN gives appropriate consideration to the threat that fraud and deception on the Internet pose to the growth and public acceptance of electronic commerce. It establishes safeguards that can avert many of the abusive practices that marked earlier technological innovations in the marketplace. Most laws protecting consumers against fraud and deception are implemented after fraud has been committed and documented.
ESIGN attempts to address fraud before it occurs MICHIGAN INSURANCE COMPANY POSITION: ACME strongly approves actions aimed at the development and use of the electronic commerce. Taking away of obstructions to e-commerce will bring notable advantage to the US economy and will put it in a stronger place in the worldwide market. The items included in H. R. 1714, the "Electronic Signatures in Global and National Commerce Act, " S. 761, the "Millenium Digital Commerce Act" and the UETA model law to allot electronic documents with the identical official power as paper documents are the right measures directed to making easier the usage of e-commerce. We think that it is essential that a uniform national standard for the usage of electronic contracts, records, and signatures be created.
A kind of electronic transaction that is officially applicable in one state should be used in other states. If some states reject such transactions (Michigan is not among them, California refused to allow electronic insurances), it will hinder electronic commerce because it will make companies use different methods for serving consumers. This will reduce the effectiveness and expediency of using e-commerce in the many prospective jurisdictions. Moreover, an identical standard will make easier the partaking in the worldwide market. ACME accepts the federal statements in H. R. 1714.
Now we are pleased to offer you electronic insurance contracts, signatures and records with the same authorized force as any electronic transaction. The insurance prohibiting in California e-commerce are principally upsetting. In the speedily developing economic services market, it is essential to elude laws that put any particular industry in a disadvantageous position in comparison with others which manufacture related products. The attempts of insurers to provide customers with services through the internet should not be hindered.
We will keep working with national and state legislators to persuade them to create an identical general standard for electronic signatures, insurances and contracts that will work for benefit of our economy. Bibliography Statement on Electronic Signatures and Documents June 17, 2000, Washington, 2000. The future of electronic signatures Newsweek, article, July 2002.
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Research essay sample on Electronic Commerce E Commerce
