Full Description

The scope of this standard begins at the time of signing the Contract, inclusive of signature capture, and includes the creation, storage and assignment of Electronic Chattel Paper where the assignment will involve establishing control of the Electronic Chattel Paper. This standard addresses both electronically originated Chattel Paper and Tangible Chattel Paper that is subsequently converted to an electronic format. This standard does not address other documents involved in the process (e.g. titles, odometer statements, etc.), the data elements a Contract should contain, or the formatting of the Contract. In addition, this standard does not address the process or legal requirements of presenting Contracts to Customers, the requirements to determine enforceability of Electronic Signatures, or the privacy requirements arising out of the relationships among the parties.

Product Details

Published: 07/19/2004 ANSI: ANSI Approved Number of Pages: 43 File Size: 1 file , 280 KB