FORMING ELECTRONIC CONTRACTS Clause Samples

FORMING ELECTRONIC CONTRACTS. Electronic contracts or online contracts enable transactions and agreements electronically without the parties meeting each other. In the other words traditional contract process of offer, acceptance and agreement to transact through electronic mode than physical mode of paper. E- Commerce to succeed such contracts need to be validated legally an alternate mode of transaction through online using the latest technological developments. The main aims are: 1. Creating a secure atmosphere of transacting online with alternate mode to paper and writing. 2. Creating an electronic documentation system which will safeguard the contracting parties on par with the traditional mode of contracts. 3. Creating statutory status and monitoring/verifying authorities for such electronic transaction. 4. Checking frauds intentional or unintentional transactions to promote and build confidence in genuine online transactions.