From: jdwilson@gold.chem.hawaii.edu (Jim Wilson (VA))
Date: Thu, 9 Dec 93 08:25:58 PST
To: cypherpunks@toad.com
Subject: Legal Aspects of IMP
Message-ID: <9312091625.AA06392@gold.chem.hawaii.edu>
MIME-Version: 1.0
Content-Type: text/plain


CP's FYI:

> Date: Wed, 08 Dec 1993 08:06:11 -0500 (EST)
> From: BAUM@HULAW1.HARVARD.EDU
> To: imp-interest@thumper.bellcore.com
> Subject: Legal Aspects of IMP
> 
> I have only recently seen a few of the IMP messages that have been
> forwarded to me. I have also responded to at least one person individually
> concerning the legal aspects of payment for the IMP. In this regard, I
> mentioned that about two years ago we began the development of a 
> 
> Model Electronic Payments Agreement and Commentary (for credit transfers)
> that is intended for electronic commerce purposes. Since the completion of
> the document, we understand that it has been adopted by various companies,
> including Airborne Express, Texaco, Baxter International, etc. It has also
> been reprinted by the Banker's EDI Council in its Guidebook. I recommend that
> developers of the IMP take a look at some of the conventions (and assumptions)
> that are included in the Agreement. The Model includes extensive commentary
> and a tuturial/introduction.
> 
> By the way, one of the challenges to the internet community will be to narrow
> the gap between localized/specialized payment approaches, and the "mainstream"
> corporate and governmental payment infrastructure that already is in place.
> Also, FYI, the American Bar Ass'n has a Financial EDI Committee that is now
> developing a debit counterpart for the above-mentioned credit Model.
> 
> Copies of the Model are available at cost as follows:
> 
> Send a request to the ABA requesting:
> 
> Model Electronic Payments Agreement and Commentary
> Product Code: 545-0009
> Cost: $ 11.95 (this includes domestic delivery)
> 
> to:
> 
> Order Fulfillment Department
> American Bar Association
> 750 North Lake Shore Drive
> Chicago, IL  60611-4497
> 
> Check, mastercard or Visa are accepted. Include your phone number.
> 
> 
> For information about the Financial EDI Committee, you can contact:
> Smedinghofft@attmail.com (Tom Smedinghoff).
> 
> ***