Federal Contract Law News

Is there an electronic Oil Record Book in the future of the maritime industry? There could be. Will charters be negotiated and signed electronically? They can be, but they do not have to be. Will the new rules of electronic signatures and electronic record keeping change the maritime industry? Most certainly. Are the new rules simple to apply? Not at all. The rapidly accelerating use of electronic commerce in all industries demands changes in the traditional "paper and pen" foundation of legal documents. The "high tech" community has been a strong proponent of the need for change for several years. Initially their efforts focused solely on electronic signatures.