What is "E-Contract"? Which E-Contract providers are certified by the Ministry of Industry and Trade?

What is “E-Contract”?

Electronic contract, also known as E-Contract (abbreviation of English: Electronic Contract), is defined in Article 33 of the Law on Electronic Transactions 2005 as follows: “Electronic contract is a type of contract that The parties agree to establish, change or terminate the right to send, receive and be stored on electronic media such as electrical, electronic, digital, optical and other electronic technologies and other electronic means.”

Currently, the E-Contract electronic contract is legally recognized and is used when one of the two individuals does not implement the cooperation agreement or violates the labor law on the contract. In addition, the E-Contract electronic contract needs to provide the following conditions:

• The content keeps the integrity and does not change the information, only the cases of variation in the forms arise in the process of sending and storing contract documents.
  The content is fully openable, readable, or viewable using legal encryption under the partnership agreement.

Basic features of E-Contract 

The following are the four main characteristics of an electronic contract:

• Contract information expressed in electronic data: Compared with traditional paper contracts, E-contracts include contract information stored in the form of data messages.
• In the contract, at least 3 parties are involved: In addition to the seller and the buyer in the common form of contract, the E-contract also includes a third party who is the person standing between the other two. This can be your network provider or digital signature certification authority. In the negotiation process, the third party is not allowed to participate, only allowed to participate when it is necessary to ensure the effectiveness and legal value of the contract.
• Guarantee of legal validity: According to Article 34 of the Law on Electronic Transactions, an electronic contract's legality is equivalent to that of a traditional contract. However, contracts on land use, marriage registration certificates or other civil contracts are not legally valid.
• Easy to do anytime, anywhere: The contract information is set up in the form of electronic data, so the two subjects do not need to meet each other. The parties can completely sign the contract very quickly at any place or time.

Which E-Contract providers are certified by the Ministry of Industry and Trade?

The first 5 enterprises granted the Certificate of registration to provide electronic contract authentication services by the Ministry of Industry and Trade include:

• CMC Technology and Solution Corporation Co., Ltd
• FPT Information System Company Limited;
• Viettel Telecom Corporation;
• BKAV Joint Stock Company;
• Mobiphone Telecommunications Corporation;

These are all leading corporations and companies in Vietnam in terms of information technology and telecommunications solutions.

With nearly 30 years of experience in Vietnam in providing digital transformation and security solutions. CMC TS has been accompanying more than 10,000 organizations and enterprises nationwide in information technology and digital transformation projects. C-Contract is currently being used by major partners such as Vinhome, VinFast, Fast Delivery, CMC Telecom... with a scale of more than 2 million users.

With the Ministry of Industry and Trade awarding this certificate of registration to provide this electronic contract authentication service, CMC TS commits to accompany the Ministry and CeCA units to participate in the development axis of Vietnam e-contracts. comprehensive, complete technology ecosystem.

>> E-contract reached Top 10 Make in Vietnam digital solutions

Distinctions of the e-contracts granted the certificate of providing e-contract authentication services by the Ministry of Industry and Trade:

Summary

The application of C-Contract will help customers save 70% of time and costs because there is no fee for delivery, printing or storage. Especially the risk of loss, contract damage will be significantly reduced. In particular, customers using C-Contract can now sign directly with foreign partners and are sponsored by the competent state agency in Vietnam (Ministry of Industry and Trade) and cross-sign between contract suppliers. electronic currency without sharing a common platform.

The e-contract solution gives users a great experience. The signing of the contract is quick and convenient, the documents are simple but still ensure safety and security.

When customers register to use the E-Contract electronic contract service at CMC, they will receive many attractive incentives. Leave your information in the registration form below for detailed advice!