Critically assess the elements of a successful e-commerce regulatory Essay

Critically assess the elements of a successful e-commerce regulatory model - Essay Example In the last 5 years, the government has contended that the introduction of several layers of regulation based on EU legislation into UK law has increased customer confidence in e-businesses3 and increased these businesses standards of good practice. The implementation of the Distance Selling directive into UK law was to inspire confidence and increase transactions in cross-border shopping, including the internet. The regulation cannot be contracted out and any inconsistencies between the terms of the contract and the regulations would make the contract void. It does not cover contracts relating to auctions, financial services or property and partial exemptions for accommodation, transport, catering or leisure services and goods intended for everyday consumption supplied by regular roundsmen. This information must comply with the principles of good faith in commercial transactions and the principles governing the protection of minors. However, Consumers Internationals5 research revealed that 1 in 5 sites failed to give clear total cost of the transaction despite the fact that the price of goods and services including all taxes must be provided. They have also found very few sites actually providing written information on the right to a contract withdrawal. Subject to the following exceptions , once the supplier has met his obligations relating to the provision of information, the consumer has at least 7 working days to cancel the contract without penalty (the cooling-off period6) : If the supplier fails to meet his obligations to provide information, this period is extended by 3 months. He also has 30 days to repay the amounts paid by the consumer and, in certain cases, may deduct from the refund the costs of recovering the goods. If the consumers payment card was fraudulently used, he may request cancellation of payment and reimbursement of the amounts paid. The burden of proof lies on the card issuer