Electronic Transactions Law

1. If a hand-written signature is required for any document or contract or the like, such requirement shall be deemed satisfied by an electronic signature generated in accordance with this Law. The electronic signature shall be equal to a hand-written signature, and it shall have the same legal effects. 2. Any person generating an electronic signature shall do so in accordance with the provisions of this Law and the conditions, requirements, and specifications set by the Regulations, and shall take the following into consideration: a) Take necessary precautions to prevent the unlawful use of signature generating data or the personal equipment related thereto. The Electronic Transactions Law Regulations shall specify such precautions. b) Notify the certification service provider of any unauthorized use of his signature in accordance with the procedures specified in the Regulations. 3. If an electronic signature is provided in any legal procedure, the following shall be deemed valid, unless proven otherwise or the concerned parties agree to the contrary: a) The electronic signature is the signature of the person identified in the relevant digital certificate. b) The electronic signature was provided by the person identified in the relevant digital certificate for the purpose specified therein. c) The electronic transaction has not been altered since the electronic signature was affixed thereto. 4. If an electronic signature does not satisfy the conditions and requirements set forth in this Law and the Regulations, the presumed validity established in paragraph (3) of this Article shall not apply to said signature nor to the electronic transaction associated therewith. 5. Any person relying on an electronic signature of another person shall exercise due diligence in verifying the authenticity of the signature, using relevant electronic signature verification data in accordance with the procedures set forth by the Regulations. Chapter 5: Powers of the Ministry and the Commission