OMB Issues Guidance Concerning E-SIGN LegislationWashington, DC, October 13, 2000 - The Office of Management and Budget has issued guidance to executive agencies regarding the interpretation and implementation of the Electronic Signatures in Global and National Commerce Act (E-SIGN). The OMB guidance was designed to aid in federal agency implementation of E-SIGN, which was signed into law by President Clinton on June 30, 2000. E-SIGN became effective on October 1, 2000. However, certain provisions relating to record retention requirements become effective on March 1, 2001 unless an agency, by that date, has otherwise announced or initiated a rulemaking on a record retention requirement. In that case, the law is effective for that requirement on June 1, 2001. The OMB guidance was developed with substantial input from the following agencies: the Departments of Commerce, Treasury, and Justice, working with the National Economic Council. The guidance contains three parts: - a short summary of the law as it relates to federal agencies;
- a description of specific steps agencies should take to comply with the law; and
- a detailed description of the law's requirements, including illustrative examples.
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