| Legislation to make electronic signatures legally binding may finally be at hand: A bipartisan congressional panel agreed late last week on a final version of the bill that could be voted on soon in the House and Senate. President Clinton has indicated he will sign the bill.
The Electronic Signatures in Global and National Commerce Act, or S. 761, will authorize the use of electronic signatures in online contracts. Previously, the House and Senate had passed separate versions, but a panel of Republican and Democrat senators and representatives hammered out the differences in a reconciled version.
Little progress had been made over several weeks as lawmakers lined up behind provisions more favorable to businesses or to consumers. Sen. Spencer Abraham (R Mich.) finally broke the gridlock by gaining a concession to retain the March 1, 2001 date for when companies must have completed standards for how long they must keep records. |
