On June 30, 2000, President Clinton signed into law the Electronic Signatures In Global and National Commerce Act (E-SIGN Act), which became effective in the United States on October 1, 2000. The E-SIGN Act implements a national uniform standard for all electronic transactions that encourages the use of electronic signatures, electronic contracts and electronic records by providing legal certainty for these instruments when signatories comply with its standards. The E-SIGN Act includes several key provisions that address its: (1) scope; (2) application; (3) consumer consent requirements; (4) validity requirements for electronic signatures, electronic contracts and electronic records; (5) retention requirements for electronic contracts and records; (6) notarization rules; and (7) national uniform standards for the banking, insurance and stock industries.

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