“Cross-border” signing solution for FDI enterprises with FPT.eContract

Being continuously developed and upgraded, FPT.eContract electronic contract solution has been promoting international signing process for FDI enterprises. FPT.eContract provides organizations with a secure electronic signing platform, optimizing costs, time, and resources.

Solid legal basis for domestic and international electronic signing

On December 26, a seminar themed “Electronic contract signing with international partners and FDI enterprises” has been organized by FPT Information System Corporation (FPT IS). The seminar welcomes the attendance of representatives of the Ministry of Industry and Trade and C.P Vietnam Livestock JSC, aiming to address problems when using electronic contracts in international transactions for FDI enterprises.

Currently, electronic contracts have been adopted in many companies, creating positive changes in organizational governance and operation. The problem of transforming form of signing for domestic transactions has been partially resolved thanks to successful case studies in which electronic contracts are adopted. However, there are still concerns in terms of forms of implementation and legal validity of electronic contracts regarding “cross-border” signing by FDI companies, or between Vietnamese companies and international partners.

Speakers address questions from FDI companies regarding adoption of electronic contracts.

Speaking of legal validity of electronic contracts in international transactions, Mr. Le Duc Anh – Director of the Center for Informatics and Digital Technology, E-commerce and Digital Economy Agency, Ministry of Industry and Trade of Vietnam – emphasizes: “The validity of an electronic contract is based on two prerequisite conditions: Ability to verify identity of signers, and Adoption of digital signature for anti-forgery of contract content, which are indispensable for electronic contract authentication organization to authenticate an electronic contract. Electronic contracts certified by Certified e-Contract Authority (CeCA) and the Ministry of Industry and Trade fully satisfy the above conditions. Electronic contracts certified by CeCA are appended with green tick of certification by CeCA and the Ministry of Industry and Trade, minimizing risks when using electronic contracts, ensuring data integrity, and allowing search for authenticity on CeCA. In addition, such contracts also have dispute settlement support, attached with digital signature of the Ministry of Industry and Trade, and therefore recognized by third parties.

Mr. Le Duc Anh – Director of the Center for Informatics and Digital Technology, E-commerce and Digital Economy Agency, Ministry of Industry and Trade of Vietnam – speaks of electronic contracts appended with green tick of certification.

Currently, FPT IS is one of five electronic contract authentication service providers participating in CeCA. As an IT company that has been providing technology ecosystem to maximum support online signing, including Electronic contract (FPT.eContract), Remote signing (FPT.eSign), combined with eKYC electronic identification solution, Anti-fraud solution for digital identity verification (FPT.IDCheck), FPT IS is one of the first companies to cooperate with the Ministry of Industry and Trade to research and integrate with CeCA, ensuring all business requirements and technical standards.

Optimizing international signing process for FDI companies

As a provider of FPT.eContract electronic contract solution, Mr. Le Thanh Bac – Director of Electronic Service Center, FPT IS – says: “FDI companies in Vietnam have to face multiple issues in contract signing, such as: partners located overseas with no legal entity in Vietnam; partner being a Vietnamese legal entity but processes must comply with those of parent company located in a foreign country… Such issues have triggered difficulties in terms of forms of signing, signer verification, dispute settlement; or use of signing platform yet to be licensed in Vietnam; lack of support, etc.”.

Mr. Le Thanh Bac – Director of Electronic Service Center, FPT IS – speaks of FPT.eContract electronic document authentication solution.

“Deeply understanding the issues, FPT IS has developed FPT.eContract electronic contract solution. With simplified process, a variety of available signing forms, and flexible integration with corporate systems, FPT.eContract has delivered secure and fast electronic signing service for FDI companies. The company has been deploying the solution for leading FDI companies in Vietnam such as Samsung, Unilever, C.P Vietnam…, thereby enhancing efficiency, optimizing resources, costs, and reducing time of signing” added Mr. Bac.

Particularly, on FPT.eContract, signer can perform chip-based ID card verification and face recognition with 100% accuracy based on anti-forgery AI technology compliant with ISO 30107-3 using FPT.IDCheck, an anti-fraud solution for digital identity verification.

Since 2020, FPT IS has pioneered and developed FPT.eContract electronic contract solution. So far, the solution has been adopted by more than 4 million users including both companies and individuals nationwide, and has recorded nearly 2 million successful transactions. To learn more about FPT.eContract, see here or contact hotline 1900 636 191.