Government is evolving Bermuda’s legislative frameworks to meet international standards and best practices, encouraging the development of local service providers and infrastructure, and creating its own e-government channels.
Bermuda set the global standard in 1999 when it introduced the Electronic Transactions Act. The government’s pioneering work laid the foundation for the conduct of electronic transactions as well as establishing a strict entry review process for businesses and persons into the market and a non-compliance procedure whereby they may impose penalties on offending parties.
The purpose of the E-Commerce regulations of the Bermuda Government is:
- To permit and encourage E-Commerce through the operation of free-market forces
- To promote the greatest possible degree of self-regulation by the industry
- To ensure that e-transactions are flexible and technologically neutral
The subsequent Standard for Electronic Transactions (Code of Conduct) in 2000 was designed to ensure that those engaging in E-Commerce in Bermuda operate in a manner which would maintain the island’s reputation as an international business jurisdiction.
Electronic Transaction Act
Standard for Electronic Transactions - the Standard
Certification Service Provider Regulations