E-SIGN consent procedure must be clarified to avoid consumer fraud

April 1, 2001

Montreal, Canada - April 2, 2001 — Just like in the paper world, consumers need to receive information that will assist them in understanding the nature of the online transaction they are about to electronically consent to. Michael Laurie, Vice-President and Co-founder of Silanis Technology, will address the implications of this statement as well as other issues surrounding the process of electronically capturing consumer consent during the FTC E-SIGN Public Workshop on April 3, 2001 in Washington, DC. “The E-SIGN consumer consent provision must be clarified to account for the fact that the process of electronically capturing consent must occur via a series of very explicit steps that can be authenticated through electronic security technology,” Laurie says. “A process that is secured in this manner cannot be easily repudiated and will be less likely to increase incidences of fraud against consumers.” During the workshop, Laurie will also demonstrate how Silanis’ ApproveItä products were the first to meet a number of electronic signature legislation and regulations including E-SIGN and UETA (Uniform Electronic Transactions Act). As a leading developer of electronic signature and approval management software, Silanis counts the Joint Chiefs of Staff, US Army Medical Command, GMAC Commercial Mortgage, and National City Bank among its 800 clients.

What, When, Where:

FTC E-SIGN PUBLIC WORKSHOP April 3, 2001 “Technology Issues”: 10:45 – 11:45 a.m. “Benefits and Burdens”: 1:00 – 3:00 p.m. http://www.ftc.gov/bcp/workshops/esign/index.htm


Michael Laurie, VP of Strategic Alliances and Co-founder of Silanis Technology Since 1992, Michael Laurie has identified industry market trends and assisted in the direction of products and market strategy. Today, he is responsible for establishing industry alliances and partnerships that leverage Silanis’ resources and maximize market presence and value.

About Silanis

Founded in 1992, Silanis Technology Inc. develops ApproveIt®, the industry's first and only multi-signature electronic approval management software. Over 800 organizations use Silanis products in government, business, insurance, medical, and health care sectors, including the US Joint Chiefs of Staff, TRW, Williams Group, Nationwide Insurance, and National City Bank. Silanis software is recognized for its mature feature set, security, ease-of-use, and simple integration.

For additional information:

Andrea Simmons Silanis Technology (514) 337-5255 ext. 1152 e-mail: [email protected] www.silanis.com