Paperless Transactions: The Competitive Edge
- Executive Summary
- Table of Contents
- Readers Guide
- Purchase This Study
Table of Contents:
- 5 Executive Summary
- 7 Study Objectives And Methodology
- 8 PART 1. BENEFITS, OPPORTUNITIES AND OBSTACLES
- 8 Benefits Of Automation
- 9 Obstacles To Adoption
- 10 PART 2. CURRENT STATE MODEL
- 10 Existing State Of Automation
- 13 Current State Model
- 14 "Pain Points"
- 15 Inherent Weaknesses
- 16 PART 3. FUTURE STATE MODEL
- 16 Overview Of Future State
- 17 Resolution of "Pain Points"
- 17 Necessary Elements
- 18 Future State Model
- 18 Application Processing
- 19 Credit and Underwriting
- 20 Contract Processing
- 20 Contract/Asset Management
- 22 PART 4. THE LEGAL INFRASTRUCTURE
- 22 ESIGN and UETA
- 23 Revised Article 9 of the UCC
- 25 Rating Agency Acceptance
- 26 PART 5. PAPERLESS TRANSACTIONS IN OTHER INDUSTRIES
- 27 Mortgage Industry
- 28 The Registry Model
- 29 MISMO and SPeRS
- 30 Automobile Finance Industry
- 30 Single System Model
- 31 X9 Standards
- 31 Variable Annuities Industry
- 33 PART. 6 THE PATH FORWARD
- 33 Legal And Operational Considerations
- 34 Electronic Forms
- 36 Workflow
- 36 Authentication
- 36 Electronic Signatures
- 37 Record Retention
- 38 Control
- 38 Creating Industry-Wide Standards
- 43 APPENDIX A: GLOSSARY
- 46 APPENDIX B: LEGAL ASPECTS OF ELECTRONIC TRANSACTIONS
- 46 TABLE OF CONTENTS
- 46 1. Overview of UETA and UETA
- 47 2. Electronic Records
- 49 3. Electronic Signatures
- 49 3.1 Selecting a Signature Process
- 50 3.2 Providing Information to the Customer Regarding the Signing Process
- 51 3.3 Establishing the Customer's Intent to Sign
- 52 3.4 Associating a Signature with a Record
- 52 3.4.1 Attributing a Signature to a Customer
- 53 3.5 Authentication
- 53 3.5.1 Authentication Methods
- 54 3.5.2 Selecting a Credential Method
- 55 3.5.3 Notifying Credential Holder of Rights and Responsibilities
- 55 3.5.4. Representative's Authority
- 56 4. Consent to Engage in Business Electronically
- 56 5. Record Retention and Management
- 56 5.1 UETA and UETA Record Retention Requirements
- 59 5.2 Admissibility into Evidence
- 59 5.2.1. The Best Evidence Rule
- 60 5.2.2 The "Duplicates" Rule
- 60 5.2.3 The Secondary Evidence Rule
- 61 5.2.4 The Business Records Act
- 62 5.2.5 State Law
- 62 5.2.6 Process Integrity
- 63 6. Legal Aspects of the Assignment of Electronic Records
- 64 6.1 Creation of Security Interests Using Electronic Records and Signatures
- 64 6.1.1. Perfection of Security Interests Using Electronic Records
- 66 6.1.2 Perfection by Control of Security Interests in Electronic Chattel Paper
- 67 6.1.3 Choosing a Method of Perfection
- 70 APPENDIX C: SUMMARY OF CASES
- 80 APPENDIX D: STANDARD & POOR'S -
LEGAL ISSUES OF SECURITIZED AUTO LOANS IN AN ECONTRACT WORLD - 83 APPENDIX E: CURRENT STATE MODEL
- 97 APPENDIX F: FUTURE STATE MODEL
- 110 APPENDIX G: RESOURCES
- 112 APPENDIX H: SPERS STANDARDS
- 126 APPENDIX I: ELFF ELECTRONIC CONTRACTING SURVEY RESULTS - MARCH 2007
- 133 APPENDIX J: NAVA STANDARDS
- 147 APPENDIX K: STUDY AUTHOR BIOGRAPHICAL INFORMATION
