With Transportation Costs on the Rise the FTC Is Embracing Electronic Delivery
FTC Staff Advisory Opinion says PrivaSign™ complies with current industry regulations.
Dallas, TX (PRWEB via PR Web Direct)
September 3, 2005 -- VaultraNet announced today that it has received a Staff
Advisory Opinion letter from the Federal Trade Commission stating that
VaultraNet’s electronic signature capturing service, "PrivaSign™," complies with
current industry regulations. This letter lays the foundation for businesses to
start using electronic file delivery and electronic signature capturing to
immediately save time and money over traditional shipping
options.
PrivaSign™ is currently used by a wide variety of businesses to
securely deliver and electronically sign files, and the PrivaSign™ technology is
neither industry nor purpose specific, so it may be used by any business to
lower delivery costs and shorten delivery times. Currently VaultraNet is
focusing its efforts and product development on growing its franchise industry
presence. PrivaSign™ is widely used in the franchise industry to electronically
distribute information to prospective and existing franchisees including Uniform
Franchise Offering Circulars (UFOC), as well as marketing materials and other
information franchisers have traditionally sent by snail-mail or other shipping
channels.
The Federal Trade Commission said in its letter to VaultraNet,
"Based upon our review, we are satisfied that VaultraNet has made a good faith
effort to comply with the proposed Internet instructions specified (in the
Federal Register)." The FTC has dedicated a great deal of time and energy into
regulating electronic signature capture and electronic delivery of legally
binding documents, in particular how those technologies affect the franchise
industry. These efforts have never been more useful than they are today. With
gas prices reaching record highs and transportation costs escalating on a
seemingly daily basis, the use of electronic file delivery and signature
capturing will save businesses and consumers money
immediately.
VaultraNet President Jason McKay said of the letter,
"VaultraNet has always strived to provide our customers with the most efficient
technology available while at all times complying with industry regulations. We
have always been compliant with the E-SIGN Act (Electronic Signatures in Global
and National Commerce Act) and we are honored that the FTC has taken time to
acknowledge our efforts. Electronic file delivery and electronic signature
capturing is the wave of the future and businesses who adopt this technology now
will be more organized and efficient. Additionally they will shelter their
business against rising fuel, printing and handling costs."
The E-SIGN
Act was written to help the business community and the consumer become more
efficient by utilizing electronic technologies, but electronic file delivery and
electronic signature capturing offer more than just time and money savings, they
enable the consumer and businesses that use the technology to be more organized.
The technology is better for the environment, and it makes corporate compliance
significantly easier by streamlining and tracking chains of
communication.
Electronic signatures are just one aspect of the document
lifecycle that VaultraNet’s PrivaSign™ service helps to manage. Other services
available through PrivaSign™ are electronic storage and archiving of files,
multi-file and multi-signatory capturing, viewer licensing for audit and
tracking signature files, secure e-mail and an integrated calendar system that
tracks all relevant dates or action events associated with a file. PrivaSign™ is
setting a new industry standard for electronic file delivery and electronic
signature capturing, and it is available in an ASP Edition as well as an
Enterprise Edition for large customers.
About VaultraNet
The two
founding partners who created VaultraNet in 2001 are still the driving force
behind VaultraNet’s ambition and success. After paying its dues in the startup
arena, VaultraNet has found itself being used in over 20 different industries
including Franchising, Legal, Construction, Finance, Health Care, Hotel and
Hospitality, Consumer Services, Banking and many more. The PrivaSign™ product is
sold and distributed primarily through OEM and Marketing Partnership programs.
The company has patents pending on its proprietary electronic signature capture
service, and it is currently developing the first 100 percent web-based
electronic signature system for international and domestic file transfer and
signature capturing.
Contact:
Isaac Bowman
469.878.6015
866.447.2203
www.vaultranet.com
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Source : http://www.prweb.com/releases/2005/9/prweb280729.htm