A number of applications and integrations for automation and the association of the entire agreement process If we consider national and international laws, we can say that electronic agreements are valid and applicable in the courts, because the risk associated with electronic signatures is high, as the parties still insist on wet signatures in highly deployed transactions. For fintech companies that have aggressively used electronic documentation and execution to avoid fraud or tampering, electronic signatures can be used with an additional level of security. B, for example, by checking the electronic signature by sending an OTP to the registered cell phone number or using geo-location to record the IP address or any other mechanism to track the details of the electronic device. from which the electronic signature was affixed. Such a two-step verification procedure also guarantees the authenticity of the signatory. “All agreements are contracts if they are entered into by the free consent of the parties, against legal consideration and for legitimate purposes, and are not expressly annulled heresafter.” In this article, we discussed the legal validity of electronic agreements and electronic signatures. The agreement contains a clause to review the agreement within three years. However, as with many things in ASEAN, all is not lost. This agreement is the starting point for a new debate on e-commerce and digital commerce. The agreement will be overseen by senior economic officials (SEOM) and implemented by the ASEAN E-Commerce Coordination Committee (ACCEC).
CACCC will coordinate with other ASEAN agencies. Part of the challenge of developing an agreement that could be important for business is the wide diversity of capacity between ASEAN Member States. This is of course a recurring challenge for ASEAN, but the distance between ASEAN countries is particularly evident in the digital space. Even the state of knowledge between officials responsible for artisanal policy can vary considerably. The ASEAN e-commerce agreement kicks off the process. Member State governments must continue to seize opportunities at national and regional level in order to effectively achieve the potential growth prospects that will be available in the future. Businesses must be prepared to respond with specific recommendations for their participation in order to contribute to the implementation of effective e-commerce and digital policies for ASEAN. Under the Evidence Act of 1872, an electronic agreement has the same legal effect as a paper agreement. The definition of “evidence” in Section 3 of the Evidence Act includes “all documents, including electronic records, that are submitted for review by the court.” Section 65B (1) of the Evidence Act provides that all information contained in an electronic protocol, which is printed, stored, recorded or copied on paper, is also considered documents in optical or magnetic media manufactured by a computer and is admissible in any proceeding, without further proof or presentation of the original, as evidence of the contents of the original or the facts mentioned in it.” However, most of the agreement remains at the level of cooperation, particularly with regard to the key elements that are of greatest concern to businesses. These include commitments that will include issues related to ICT infrastructure, the legal and regulatory environment, electronic payment and settlement, trade facilitation, intellectual property rights in the digital age, competition policy, cybersecurity, etc.