THAILAND Trends and Developments Contributed by: Pisut Rakwong, Yaowalak Suleesathira and Supachoke Pongdasakorngamjai, Pisut & Partners
tronic transferable instrument, it will be deemed that the endorsement has been carried out electronically. The above provisions concerning electronic transferable instruments were not previously included in the ETA. These matters are of sig- nificant importance and must specifically be addressed. The ETB establishes clear princi- ples and extends legal protections to encom- pass electronic transferable instruments, ensur- ing that trade and business transactions can be conducted efficiently and with confidence by businesses. Electronic transaction service providers Many businesses and individuals do not create their own electronic systems or methods to sup- port the execution and management of electron- ic transactions. Instead, they depend on profes- sional service providers to deliver the essential services required for legally enforceable and compliant electronic transactions or contracts. Consequently, the ETB defines a range of servic- es based on current practices in Thailand, with the flexibility to introduce new services through the issuance of ministerial regulations. Electronic transaction services include the following: • identity verification and authentication ser- vices; • electronic signature services; • time-stamping and date-stamping services for electronic transactions; • electronic data transmission, reception or storage services; • website or domain name registration or certi- fication services; and • electronic transferable record services. An electronic transaction service provider may submit a request to be recognised as a reli-
able service provider, in accordance with the criteria and procedures to be established and announced by the ETDA. The ETDA may also proactively certify a service provider as a reliable service provider, without any formal request, in cases where the service provider has been wide- ly used or employs methods that are recognised or compliant with international standards. The ETB outlines the duties and responsibili- ties of electronic transaction service providers, which include the following: • services related to the creation, transmission, storage, or processing of electronic informa- tion or transactions, including the retention of evidence pertaining to electronic transactions; • provision of reliable systems, operations and personnel for service delivery; • implementation of risk-management meas- ures; • establishment of complaint and redress chan- nels; and • cybersecurity measures, including actions for handling complaints, corrective actions, dam- age control and limitation, and compensation in the event of failures in providing electronic transaction services. Any service provider that fails to comply with the prescribed responsibilities will be held liable for any consequential losses, in addition to dam- ages or compensation arising from a breach of contract or other statutory liabilities. Moreover, the non-compliant service provider may be sub- ject to blacklisting by the ETDA. In the event that the service provider holds certification as a reli- able service provider, such certification may be revoked.
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