The Bill provides statutory recognition and enforceability for...

The Bill provides statutory recognition and enforceability for electronic trade documents, requiring that such documents contain the information of corresponding paper instruments and be secured by a "reliable method" that establishes identity, control, integrity and an audit trail; compliance confers the same legal effects as paper possession and transfer. It establishes legal validity and admissibility for electronic identification, identity management and trust services, prescribes provider obligations and subscriber duties, and creates presumptions of reliability for notified methods. The Bill enables cross border recognition where foreign methods offer equivalent or substantially equivalent assurance and amends existing laws to include electronic forms.

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