Electronic Contracts

Electronic contracts (e-contracts) can be advantageous to your online business, allowing you to conduct business entirely online.The 2000 e-signature law known as the Electronic Signatures in Global and International Commerce Act (ESGICA), has made electronic contracts and signatures as legally valid as paper contracts. This law also benefits B2Bs (business-to-business web sites) who need enforceable agreements for ordering supplies and services. According to FindLaw.com, one online company estimated that eliminating paperwork fees reduced the cost of processing a home loan by $750.If you want to add an e-contract to your web site, by law you must let customers know whether paper contracts are available and what fees might apply for the paper agreements. This law lets consumers who prefer paper to opt out of using electronic contracts.

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