Bermuda Debuts E-Commerce Code of Conduct

BIBA, Bermuda

04 May 2000

Bermuda Minister of Telecommunications and E-Commerce Renee Webb introduced the country's Code of Conduct for Internet Commerce to an international audience attending a meeting organized by the Bermuda International Business Association (BIBA) this week.

The Code of Conduct, which will go into effect on July 3, 2000, applies to all Internet and E-Commerce service providers connected with Bermuda, and serves as a model for sensible regulation that protects the interests of consumers and business, as well as the reputation of Bermuda itself. 

``E-Commerce is truly the wave of the future, and Bermuda has every intention of riding this wave to the fullest,'' explained Minister Webb. ``We are also the only jurisdiction with legislation that preserves a flexible operating environment while promoting the regulatory regime and transactional clarity that businesses need.'' 

The Code of Conduct (Standard for Electronic Transactions) is an extension of Bermuda's 1999 Electronic Transactions Act (ETA), which laid the foundation for the conduct of electronic transactions through a high degree of industry self-regulation. The Code offers predictability, security and confidence to e-business providers and customers in Bermuda. Parties not in compliance with the ETA and the Code of Conduct face government review, forced compliance or imposed penalties. 

The Code of Conduct encourages businesses to: 
    *  Observe business integrity - Internet service providers and e-
       businesses must comply with various acts concerning business ethics.

    *  Protect personal data - E-businesses must respect the privacy,
       accuracy, and security of personal information in accordance with the
       ETA.

    *  Avoid abusive usage - E-businesses should not send bulk unsolicited e-
       mails, seek unauthorized access to other users' systems, or interrupt
       others' use of the Internet.

    *  Advertise truthfully - E-commerce service providers must not mislead
       customers as to the nature, quality or purposes of goods or services
       sold online.

    *  Deal fairly and openly with customers - E-commerce service providers
       must trade with customers in a transparent manner with regard to the
       Code and previous business regulations and acts.

    *  Settle complaints and disputes quickly and fairly - E-businesses must
       facilitate efficient resolution of disputes between themselves and
       customers.

The Government of Bermuda developed the regulations embodied in the Code of Conduct in consultation with BIBA and other members of Bermuda's business community. The collaboration between the government and the private sector ensures the protection of customers, business and the island, according to BIBA Chairman Raymond Medeiros. 

``The Bermuda International Business Association is pleased to have this opportunity to work hand in hand with the government to develop this innovative approach to E-Commerce and Internet regulation,'' Medeiros said. ``While many countries continue to debate appropriate approaches to E-Commerce regulation, Bermuda has acted decisively to establish regulations that will allow the island to continue to grow as a leader in the international E- Commerce sector.'' 

Bermuda has earned a reputation as a world-class center of commerce, featuring a business-friendly environment, a stable and growing economy, and an unmatched collection of talent and intellectual capital in key sectors, including insurance, financial services, and, more recently, electronic commerce. 

The Bermuda International Business Association (BIBA) is a volunteer business organization of Bermuda resident service providers who provide quality banking, legal, accounting, financial, trust, management and e- commerce services and products to the international client. BIBA works with the private sector and the Bermuda Government to develop and promote the island as a preeminent offshore business, e-commerce and financial services jurisdiction. 

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