Bermuda Introduces E-Commerce Code Of Conduct

Lisa Ugur, Tax-news.com, London

19 May 2000

This week Bermuda minister of telecommunications and e-commerce, Renee Webb, unveiled a code of conduct for Internet commerce which will come into effect on 3 July and applies to all Internet and e-commerce service providers in Bermuda.

Launching the initiative, Webb said that the code had been established to ensure those engaged in e-business conducted themselves in a way which preserves the reputation of Bermuda as a premier international business jurisdiction.

Webb stated 'The standard provides investor confidence by protecting their interests while maintaining the regulatory checks and balances in order to protect Bermuda's reputation. This code is decidedly customer and user-friendly and is harmonious with Bermuda's existing light, but effective, regulatory environment'.

The code therefore is designed to encourage business to observe integrity, protect personal data, avoid abusive usage, advertise truthfully, deal fairly and openly with customers, and settle complaints and disputes quickly.

The code is an extension of Bermuda's 1999 Electronics Transactions Act (ETA) which laid the foundation for the conduct of electronic transactions through large-scale industrial self-regulation. Those who do not comply with the ETA and code of conduct face government review, forced compliance or severe penalties.

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