Building Confidence

Beyond compliance with legal requirements one of the primary concerns of the parties involved in a electronic transaction is the key question of "Trust". It is fundamental to develop a sufficient degree of confidence in an electronic transaction such that the companies are willing to ship the product, transfer funds and enter into a binding contractual commitment in a real time environment. When it comes to electronic commercial transactions, if there is no trust, there is no deal.

This pivotal role of the trust and confidence for the success of e-commerce is widely recognized. The Commission of the European Communities noted that:

"The first objective is to build trust and confidence. For e-commerce to develop, both consumers and businesses must be confident that their transactions will not be intercepted or modified, that the seller and the buyer are who they say they are, and that transactions mechanisms are available, legal and secure. Building such trust and confidence is the prerequisite to win over businesses and consumers to e-commerce."

This section explores the nature and extent of the existing means to ensure the reliability and trustworthiness of the electronic transactions, including the authenticity and integrity of the electronic records that form the basis of the transaction.