1. What is an electronic contract?
An electronic contract is a type of contract where the parties to an agreement on the establishment, change, or termination of the rights and obligations to send, receive, and be stored on electronic means such as electronic technology. electronic, digital, optical, and other electronic media.
2. Features of e-contracts
Some typical features of electronic contracts (also known as online contracts) that businesses need to know when using can be mentioned as follows:
• Expressed by electronic data messages: An electronic contract has a new point compared to traditional paper contracts information is stored in the form of data messages.
• There are at least 3 parties involved: In addition to the two parties, the seller and the buyer, there is also a third entity standing between the other two. Electronic signature certification agencies or network providers can be a third party and do not participate in the contract signing process, but only ensure the effectiveness and legal validity of the contract.
• Wide scope of signing: Because the information on the contract is set up in the form of electronic data, the two parties do not need to meet each other but can sign the contract very quickly at any place, at any time.
• Technical complexity: Besides the convenience and cost savings due to the use of electronic means and telecommunications networks to sign contracts. It is these factors that create some initial difficulties for use because electronic contracts require users to have certain knowledge and skills when using electronic means.
3. Classification of electronic contracts
3.1 The traditional paper contract is posted on the website by one party
This type of contract is first written on paper, then edited and uploaded to the website for the parties to sign. The contracts are put all content on the web and the bottom often has an "Agree" or "Disagree" button for the parties to choose and confirm their agreement to the terms of the contract.
3.2 E-contracts formed through electronic transactions
The outstanding feature of this type of electronic contract is that the content of the contract is not prepared, but is formed in an automatic transaction. The computer automatically synthesizes the content and processes it during the transaction based on the information entered by the buyer.
At the end of the transaction process, the electronic contract is aggregated and displayed for the buyer to confirm his agreement with the contents of the contract. After that, the seller will be notified of the contract and send a confirmation for the contract to the buyer through many forms, which can be by email or other methods such as phone, fax, etc.
This is a form of electronic contract commonly used on retail e-commerce websites (B2C), typically: Amazon.com, Dell.com, Ford.com, Chodientu.vn, Thegioididong.com.vn,...
3. Execution contract email
This is a form of electronic contract commonly used in business-to-business (B2B) electronic transactions, especially in international e-commerce transactions.
In this form, the parties use email to conduct transactions, the common steps usually include: making offers, asking for goods, and negotiating the terms of the contract such as quality specifications, and prices. , quantity, delivery facility conditions... The process of transaction, negotiation, signing, and performance of a contract is similar to that of a traditional transaction, the difference is the means used to sign the contract. computers, the Internet, and email.
3.4 Electronic contracts using digital signatures
The outstanding feature is that the parties must have a digital signature to sign the data messages during the transaction. Because of the use of digital signatures, this type of electronic contract has higher security and binding obligations of the parties than the above forms. However, in order to be able to use digital signatures, it is necessary to have the participation of digital signature certification agencies, in the world as well as in Vietnam today, this service is still in the initial stage of implementation.
Basically, the process of signing an electronic contract using digital signatures is similar to the process of B2C or B2B e-commerce transactions, the difference is that in each transaction step, the parties use digital signatures for content security and contract sender authentication.
4. Benefits of signing an electronic contract
- Convenient, fast, and accurate:
E-contracts can be signed anywhere, anytime without having to meet face-to-face with partners, without having to worry about managing business trips to disrupt the business activities of enterprises. Processes and procedures are carried out quickly, accurately, and transparently and help improve production and business efficiency.
- Easily manage, store and search:
Businesses don't need to rummage through the "mountain" of hosting contracts. Instead, you just need to search on the online data warehouse to know the signed contract, the contract waiting to be signed or the return contract extremely accurately and quickly.
- Save time and money:
All steps in the contract signing process are done online. With electronic contracts, all user actions from creating, censoring, signing, sending, and receiving contracts are authenticated via the internet.
