    [Weekly Compilation of Presidential Documents Volume 36, Number 23 (Monday, June 12, 2000)]
    [Pages 1314-1315]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Statement on Congressional Action on the ``Electronic Signatures in
    Global and National Commerce Act''

    June 8, 2000

        I am pleased that House and Senate conferees have reached bipartisan
    agreement on important electronic commerce legislation, the ``Electronic
    Signatures in Global and National Commerce Act.'' This legislation will
    remove legal barriers to doing business on-line while preserving
    consumer protections. Congress should quickly send the bill to my desk.
        E-commerce offers substantial benefits for businesses and consumers
    in terms of efficiency, convenience, and lower costs and is a vital
    source of dynamism for the American economy. If we are to achieve the
    full potential of electronic business-to-business and business-to-
    consumer commerce, however, some minimal ground rules are necessary.
    Business needs legal certainty that a contract formed and executed on-
    line will be no less valid than its pen and ink counterpart. Consumers
    need confidence that they are as safe doing business in the electronic
    world as they are on paper.
        The bipartisan agreement reached by conferees is a responsible and
    balanced approach to accomplishing both of these goals. The legislation
    would remove barriers to E-commerce by establishing technology-neutral
    legal standards for electronic contracts and signatures. It would ensure
    that consumer protections on-line will be equivalent to those in the
    paper world.
        I applaud the leadership of Chairmen Bliley and McCain who reached
    across party lines and built a bipartisan consensus. I am also grateful
    to the Democrats who worked so constructively to reach bipartisan
    agreement in conference, including Senators Hollings, Leahy, Sarbanes,
    and Wyden and Congressmen Dingell and Markey.

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