THE WHITE HOUSE|
Office of the Press Secretary
For Immediate Release
June 8, 2000
STATEMENT BY THE PRESIDENT
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.