Are ONLINE CONTRACTS legal in India?
Online Contracts or Digital Agreements are contracts created and signed over the internet. Also known as e-contracts or electronic contracts, these contracts are a more convenient and faster way of creating and signing contracts for individuals, institutions and corporate.
E-contracts are specifically any legal document that is created and signed through an electronic medium like email, website, computer or digital contracting platforms like Feelium E-contract. Through the electronic or digital means, the involved parties can enter an agreement from anywhere in the world without the need for multiple physical meetings.
Definition: E-Contracts and E-Signatures
Electronic Contracts are legal documents that are created and signed digitally in a paperless fashion. Electronic Signatures are the digital sign of an individual, party or an authorized representative on an e-contract to show acceptance of the terms and conditions of the legal document.
E-contracts do not require any paper, ink, printer or a dedicated resource for printing or creating copies of an agreement. This means, by switching to digital agreements, you eliminate the overhead costs of entering an agreement. E-sign aids the parties by saving them time and money by eliminating the need for physical meeting to sign an agreement.
Are Online Contracts Legal in India?
The answer is Yes. Online Contracts are accepted as legally binding in the Indian court and holds both the parties accountable to perform their duties as mentioned in the online agreement. There are numerous laws that make E-contracts legal in India.
Some of these laws are:
Indian Contract Act, 1872
The Indian Contract Law legalizes the use of e-contracts or online contracts in India. This means it is legal to create, design, complete and implement a contract via electronic means.
IT Act 2000
According to the IT Act of India, E-contracts contracts are legally binding and an acceptable means of entering a contract or agreement.
Indian Evidence Act
Any contract or agreement done through electronics means can be used as evidence in the court of law. Electronic record in the form of an electronic agreement is acceptable as evidence in court if an electronic acceptance or signature is attached to the same.
Payments & Settlements Act, 2008 that regulates electronic or online payments also accepts digital contracts as legally binding.
How to Create an Online Contract or Agreement in India?
Digitization and advancement in technology has given rise to digital means of entering a contract. Online or Digital agreements offer more convenience and ease of use to contracting parties. It is easy to create an online contract, just follow the below steps:
- Visit Feelium E-contract and select the sign up or sign in option at the top right corner.
- When you sign up, you will be asked to provide a few details like name, number, email, etc. Fill in the form and sign up. You will receive a confirmation mail, click on the link and your Feelium E-contract account will be successfully created.
- Now Sign In using your credentials and you will be redirected to your Dashboard.
- Select the Create Document option and select an agreement template from our vast array of legal agreement templates.
- Once selected, just answer simple questions to customize the agreement to your requirement.
- Click Next, upload your digital signature and enter the details of the other party to share the contract for signature.
- You will be required to pay a minimum fee for lawyer drafted template and digital signature and your contract is complete.
E-contracts are becoming more important especially during the corona epidemic and the nationwide lockdowns in India. With businesses operating from home, it is crucial to have a digital and legal means for entering into a contract with other companies, clients, employees, etc.
Feelium E-contract as a One-Stop-Shop for contracting helps you and your business beat the COVID-19 blues and keep on growing.
