Electronic Contracts Authenticated By MoIT Via FPT.EContract Platform Have Gone Live

On the morning of June 16, 2022, at the MoIT headquarters, the Conference on Development of Electronic Contracts in Vietnam took place, implementing Decree 85/2021/ND-CP and launching the Vietnam Electronic Contract Development Axis. As a pioneer in e-contract signing and authentication solutions, FPT IS was one of 6 CeCAs (Certified eContract Authority) participating in the Axis.

E-contracts were protected and authenticated with full legitimacy

The launch of the Axis was an influential step in promoting e-commerce and digital transformation in trade and business in Vietnam. At the event, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized that the growth of the e-contract market in Vietnam must meet all the requirements and play a key role in developing practical applications. It would improve corporate governance effectively, reduce paper waste, save time and create a supportive operating environment. Moreover, it would connect technology platforms and trusted digital infrastructures of the Government to businesses, organizations, and users through commercial transactions.

According to the 2005 Law on E-Transactions, Decree No. 52/2013/ND-CP, Decree No. 85/2021/ND-CP, Circular No. 01/2022/TT-BCT dated January 18, 2022, of the MoIT, individuals and enterprises will be able to use e-contracts with the certification of e-contract certification service providers registered by the MoIT (called CeCAs) since 2022. Authentication mechanism by the MoIT through CeCAs will support third parties such as banks, auditors, dispute settlement agencies, tax authorities, and other related entities to check and authenticate the value of e-contracts equivalent to the originals.

Specifically, e-contract transactions will be transmitted through CeCAs to the Vietnam E-contract Development Axis. Each will be attached with regulations on dispute settlement, complaints, and handling of problems arising in the course of contract performance. As a result, businesses, organizations, individuals, and third parties will have reliable intermediary agencies to solve problems arising when entering into e-contracts.

Mr. Duong Dung Trieu, Chairman of FPT Information System Co., Ltd (the 6th person from the left), participated in the Ceremony of Vietnam E-Contract Development Axis

The electronic contracts authenticated by the MoIT through FPT.eContract was gone live

FPT IS is one of those that stand alongside the MoIT in developing standards and testing, connecting the flow of transferring and authenticating e-contracts. At the event, Mr. Duong Dung Trieu, Chairman of FPT Information System Co., Ltd., said: "Until now, we have completed the e-contract authentication process of FPT.eContract and CeCA Vietnam E-contract Development Axis. FPT.CeCA system has been ready to provide e-contract authentication to all businesses, organizations, and individuals across the country. FPT IS confidently accompanies the E-Commerce Agency of the MoIT and other CeCAs to participate in the Axis comprehensively, with a full technology ecosystem for the digital signing including FPT Cloud, remote signing services, eKYC, ..."Since 2019, FPT IS has pioneered the digital signing model FPT.eContract, which applied to all types of contracts and documents with more than 3000 corporate and personal users. In addition, FPT IS has a system of linking e-document authentication with the Vietnam Electronic Contract Development Axis (www.CeCA.gov.vn) called FPT.CeCA, which was launched at chungthucdientu.vn.

The FPT.eContract platform can also allow users to choose the type of authentication certified by MoIT. It helps transmit the information code through the FPT.CeCA e-document authentication system for checking and uploading to the CeCA axis. Banks, financial institutions, and organizations with digital signing systems can transmit it through FPT.CeCA for authentication with timestamps and digital signature of MoIT.

With experience and comprehensive solutions in e-signing, FPT IS is willing to accompany MoIT, organizations, and businesses to carry out digital transformation in e-contracts. As a result, companies and individuals can completely place their trust in digital contracts and operate business remotely with safety, security, and legality.