A Novel Approach of Study of Universal E-Contract Framework for Ecommerce

Abstract

This article describes how along with the growth of internet technologies, e-commerce activities are growing exponentially. Electronics contracting is a major part of the e-commerce activity. Contracts between the exchanging sides have been adopted as a solution that guarantees the right of participants and increases mutual trust. Electronic contracts (e-contract) or Trading Partner Agreements (TPA) can be between the stakeholders involved, including the payment authority, buyer and seller. Since 1998, Open Buying on the Internet (OBI) protocols are used for business to business (B2B) internet commerce. XML based frameworks such as BizTalk, commerce XML, eXML, eCo frameworks are increasingly being used to bridge the gap between the buyer and seller. Multiple e-commerce standards need to be integrated in order to have a standard framework. In this article, the authors have studied different frameworks and propose a universal generalized framework for e–contract for e-commerce like B2B, B2C & C2C into consideration.