Electronic Contracting

What lead be the long-term impact of electronic contract on the nations pipeline?

I believe that electronic contracting leave behind increase within the nations business. The long-term impact on the nations business will be increases in efficiencies and lowers costs for the nations business. By apply electronic contracting, a business can legally function and maintain paper contracts. For example, AIU Online uses electronic contracting. Each student has the plectron to electronically sign the student handbook or scratch it and send it to AIU. Electronically signing a contract is a faster and easier way for all parties involved.

What are the potential pitfalls you tick off with electronic contracting?

In the future, issues of technological obsolescence will surface as older records and data must be converted to newer fund media. There will be a constant fatality to adapt and improve the systems that are being used to accelerate electronic contracting.

There will also probably be newer justices that will come about in the future.



The public must look that electronic transactions must be taken earnestly and should not be entered without an understanding of both the relevant gage issues as well as the legal ramifications of their electronic actions.

The law must be flexible in order to capture and adapt to meet the challenges presented by the technological revolution. This legislation is a bold step toward that goal and permits capable parties to utilize new innovations to increase efficiency and save money in e-business.

References:

http://www.constructionweblinks.com/Resources/Industry_Reports__Newsletters/June_1999/june_1999.html

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