Impact of E-Trade:

Abstract

E-commerce may be termed as e-trade. E-Trade means e-goods and e-service. E-trade is a part of International Trade law. E-trade plays a key role in the sustainable development of trade and becomes a part of international trade development. Thus, E-trade leads to the globalization of trade. Today, e-trade is expanding due to the rapid growth of trade across the world. E-trade is executed by linking among different terminals through the transnational electronic transaction. E-trade has different difficulties or barriers for its virtual world. Sustainable e-trade mechanism depends on transaction security and reliable legal framework. Non-privatization of DNS also a key factor for the development of e-trade. Different measures (i.e. transaction security, electronic signature and access control measures) should take into consideration for removing trade barriers from e-trade sector. The question may arise what should parties do with e-trade disputes. This question was answered by different scholars in different ways. Some argue to adopt proper Online Dispute Resolution to deal with e-trade disputes. Today, different adhoc online dispute settlement venues (i.e. e-arbitration) may be found across the world to deal with e-trade disputes. For the development of e-trade, different international laws should take into consideration, i.e. UNCITRAL Model Law on Electronic Commerce, United Nations Convention on International E-Contracts, WTO agreements. This is qualitative and library-based research. This research is to examine as to how future development of e-trade may be executed from an international trade law perspective.