Press Release of Rep. Tom Bliley (R-VA) and others. Re: introduction of HR 1714, the "Electronic Signatures in Global and National Commerce Act" (E-SIGN Act). Date: May 6, 1999. Source: House Commerce Committee.

Bliley, Davis, Tauzin, Oxley Introduce Electronic Signatures Bill
"This bill will make it easier to conduct business on-line," Bliley Says

WASHINGTON (May 6) -- Chairman Tom Bliley (R-VA) and Reps. Tom Davis (R-VA), Billy Tauzin (R-LA), and Mike Oxley (R-OH) introduced a bill today to promote the growth of electronic commerce by making it easier for Americans to do business on-line.

The bill, H.R. 1714, The Electronic Signatures in Global and National Commerce Act (E-SIGN), would allow consumers and businesses to use electronic signatures, the same way they use hand-written signatures, when making on-line business transactions. This bill is needed to remove legal uncertainties surrounding the status of electronic signatures and records.

"Electronic signatures have been one of the biggest barriers to the growth of electronic commerce. This bill fixes this problem by ensuring electronic signatures carry the same legal protections and guarantees as written signatures," Chairman Bliley said.

"Millions of Americans are buying everything from cars to stocks on-line," Bliley said. "This bill will help promote electronic commerce by giving consumers and businesses greater confidence and peace of mind about their on-line transactions. Electronic signatures will make it easier for Americans to conduct business on-line," Chairman Bliley concluded.

"With current advances in information technology, we are in the midst of entering into a new era, the likes we haven't seen since the industrial revolution. As more and more consumers conduct their business over the Internet, it is essential that this form of commerce provides the same protections to consumers and businesses that they currently have for over-the-counter transactions. This legislation will achieve that parity," said Congressman Tom Davis (R-VA), who represents one of the largest high-tech districts in the Nation.

"Centuries ago, X marked the spot. If this bill is enacted into law, we will be able to make our marks digitally. It represents an important advance of law in the electronic age, simply to say that digital signatures have the full, legal validity of a written contract," Subcommittee Chairman Mike Oxley (R-OH) said.

Specifically, H.R. 1714 would: provide for the acceptance of electronic signatures and records in interstate commerce; direct the Secretary of Commerce to promote the principles of this legislation overseas; and provide for the acceptance of electronic signatures and records by the securities industries.