Transcript Paction
Paction Creating international sales contracts online Presentation 26 October 2004 International Conference on the Legal Aspects of an E-Commerce Transaction Den Haag Agenda • • • • • Origins What is Paction? Who is it for? What are the benefits? What security features are there? Origins • ICC Model Contracts – helpful tools for traders – user-friendly formats • Web-based version proposed by Prof. Fabio Bortolotti • Developed by Allagraf Ltd in cooperation with the ICC What is Paction? • • • • • An online service Generates contract drafts Manages the negotiation workflow Allows secure signing and storage First implementation based on ICC model sale contract • Fits with eUCP, SURF etc Who is it for? • • • • Exporters and importers Lawyers Trade finance institutions Documentary departments of carriers and forwarders Legal benefits • The security of ICC approved and designed contracts – – – – universal contract acceptance low risk contractual environment no “battle-of-forms” can use digital signature • Conventional paper print-out possible • Convenience of making standard terms available to trading partners Explicit contracting • Each action is clearly marked (offer, counter-offer, acceptance etc) • Each action is clearly explained • Relevant events are notified by email to the parties The process Originator Offeree Start 1 Create/edit 2 Review 5 Edit 4 Review OK? N Y OK? Y 3 Offer N Edited? N 7 Acceptance Y 6 Counteroffer Contract What security features? • All communications encrypted by SSL • Identification of trading partner by digital certificate or by off-line password • Offer and acceptance signed digitally, or by recorded entry • Payments (for service) handled by separate agency Future developments • Other contracts • Links to more services – Communications – Ancillary services – Digital infrastructure • Channel sales Thank you for your interest! http://paction.modelcontracts.com