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Electronic commerce can provide consumers and businesses with significant
benefits in terms of costs, choice, and convenience. The Administration
strongly supports the development of this marketplace and supports
legislation that will advance that development, while providing appropriate
consumer protection. Many businesses and consumers are still wary of
conducting extensive business over the Internet because of the lack of a
predictable legal environment governing transactions. Both the Congress
and the Administration have been working to address this important
potential impediment to commerce.
S. 761 addresses important concerns associated with electronic commerce and
the rise of the Internet as a worldwide commercial forum and marketplace.
The Administration supports Senate passage of the amendment in the nature
of a substitute to S. 761 expected to be offered by Senator Abraham, based
on an agreement with Senators Leahy and Wyden. The Administration supports
this version of S. 761 because the bill, as proposed to be amended, would:
- ensure the legal validity of contracts between private parties that are
made and signed electronically;
- preserve the ability of States to establish safeguards, such as
consumer protection laws, to promote the public interest in
electronic commerce among private parties just as they can now
establish safeguards for paper-based commerce;
- cover only commercial transactions between private parties that affect
interstate commerce;
- not affect Federal laws or regulations, but instead would give Federal
agencies six months to conduct a careful study of barriers to
electronic transactions under Federal laws or regulations and to
develop plans to remove such barriers, where appropriate; and
- sunset completely as to the law of any State that enacts the Uniform
Electronic Transactions Act.
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