NewsLetter for Friday March 7th, 2003

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Partnership with BannerJammers.com:  We recently partnered with BannerJammers.com to incorporate the to sites and combine efforts to create a larger banner exchange network and to offer BannerJammers.com website owners the opportunity to participate in our drop shipping program.  All accounts from our old exchange services will be transferred within the next couple of weeks.  All code from Intl Wholesale exchanges service will have to be change with each website to the new account codes.  We encourage you to signup with your new account at BannerJammers.com and we will transfer any credits you may have to the new account.  If you have any questions about this partnership, please contact us at:  merger@intlwholesale.com

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Pemberley Collection™ Pillow Covers. The excitement of the Mediterranean influence is carried forward with this beautiful red pillow cover. The shimmering gold thread weaves it’s magic through this design and is complemented with red satin fringe piping. Made of cotton chenille, this set of two each measures 153/4" square. Retail $37.95
Basic Price:  US$16.80
Upgrade Price:  US$8.40

From the inlaid semi-precious stones, representing the countries of the world, to the deep blue sea, this Kassel™ Small 220mm World Globe stands 15" tall and will bring attention and beauty to your home. Features a light gray, three-legged stand with ball feet. Presentation samples of each of the semi-precious stones is included.  Retail $499.95
Basic Price:  US$222.80
Upgrade Price:  US$111.40

Giovanni Navarre™ "Italian Stone Design"™ Genuine Suede Leather Jacket. Ladies and gentlemen take a step forward in this fashionable tan, leather jacket. This beautiful genuine suede jacket breathes naturally and can we worn year ‘round. A wardrobe must. Size Large. Available in sizes M-3X.  Retail $59.95
Basic Price:  US$24.00
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John Hancock Goes Cyber

By Stan Soper

The Internet allows you to bank, trade stocks, and file taxes online. But in order to open a bank or brokerage account or finalize a tax filing — even with a pure-play Internet company (one with no brick-and-mortar counterpart) — you still have to submit signed paper documents.

An important step towards changing this is the recently passed Electronic Signatures in Global and National Commerce Act (E-Sign). As of Oct. 1, 2000, E-Sign prohibits states or courts from deeming contracts invalid simply because they lack a written signature.

However, the act does not define what constitutes a valid electronic signature. Instead, E-Sign establishes certain minimum national standards and leaves the details to be worked out by the market and by the states. In other words, a business wanting to accept digital signatures must adopt appropriate technologies and procedures to ensure the signatures' validity.

E-Sign also allows businesses to reduce expenditures by providing that, as long as certain conditions are met, many kinds of notices and documents can be sent via the Internet that previously had to be sent through the mail. Notifying clients of changes on student loan interest rates, for example, can now be done by e-mail.

Hard Copy, Strict Rules

Consumers aren't obligated to use or accept electronic signatures or records. Under E-Sign, an electronic version can be used only if the consumer has agreed to accept an electronic version and if the consumer is provided with a clear and conspicuous notice of rights, which include the right to:

  • Have a record in paper or nonelectronic form.
  • Obtain the aforementioned paper copy, and know of any fees involved in filling this request.
  • Withdraw the consent, and the conditions or consequences of doing so.
  • Know whether the consent applies only to a specific transaction or to a category of transaction records.
  • Be informed of the procedure to update electronic contact information.
  • Be notified of hardware and software requirements for accessing and retaining the electronic record.

The consumer's consent must be given in a way that demonstrates the consumer can gain access to information in an electronic form.

Fuzzy Areas

Rather than defining the term electronic signature, E-Sign focuses on the intent of the consumer: The contract is binding if the consumer shows intent to be bound contractually by an electronic signature. The electronic signature can be a sound, a symbol, or even a process.

Various technologies have been developed to facilitate electronic signatures, including encrypted numeric coding devices and fingerprint or iris scans that can be attached to computers to verify the user's identity. More are sure to come soon. What is critical under E-Sign is that these technologies are combined with sound business practices to ensure that when the consumer clicks "yes," the company can demonstrate that the consumer intended to be bound.

 

Article Continues below...

Sample of our Price Reduction

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Giovanni Navarre Italian Stone Design Genuine Suede Leather Jacket. Ladies and gentlemen take a step forward in this fashionable tan leather jacket. This beautiful genuine suede jacket breathes naturally and can we worn year around. A wardrobe must. Size medium. Available in sizes M-3X.

Retail Price: $54.95
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Continued...

There are exceptions under E-Sign, situations in which electronic communications still aren't binding. Some examples of situations in which electronic signatures are not yet valid are:

  • The creation and execution of wills, codicils, or testamentary trusts.
  • Proceedings involving adoption, divorce, or other matters of family law.
  • Court orders, notices or official court documents that must be executed in conjunction with official court proceedings. Notices that announce the cancellation of utilities (electricity, heat, water, and so on).
  • Notices that deal with nonpayment, repossession, or eviction from residential premises.
  • Notices about cancellation of health or life insurance policies or benefits.
  • Product recall notices that involve risks to health and safety.

Look Before You Sign

Although the new law offers great potential, major roadblocks remain:

E-Sign is new. It will take some time for the market and business practice to catch up to and exploit the law's potential. Many companies need to evaluate, acquire and implement alternative technologies and to develop new business practices to take advantage of the law.

E-Sign might conflict with state laws. Most states already have laws that govern electronic signatures, which might be at variance with E-Sign. Any provisions of state digital signature or e-commerce laws that conflict with this new federal statute are automatically preempted. It might take some time to sort out which parts of these state laws are still valid.

E-Sign language is very broad. E-Sign doesn't address implementation details, which must still be worked out by the states and the market. Which technologies are best? Which business practices are best?

The potential liabilities for companies that move too quickly are real. Companies that begin accepting electronic signatures too hastily can incur significant liability. Using electronic signatures without the solid underpinning of sound business practices can spell trouble.

 


The views of our authors don' t necessarily reflect the views and policies of this company or its advertisers.


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