eOriginal Publishes White Paper on "Advanced Electronic Vaulting Solutions"

October 9, 2007

Baltimore, MD -- Industry leader and technology pioneer eOriginal, Inc., the company that defined the term "Electronic Original®" and promoted its adoption across the financial industry for the past ten years, has just released their latest white paper, "Advance Electronic Vaulting Technology." Available for free via download, this white paper offers a detailed description and explanation of electronic vaulting technology and why it is a critical requirement for any financial institution using paperless processes to create and process electronically signed financial instruments.

In this paper, the term "electronic vault" is far more than long term storage -- it is the technology for ensuring and maintaining the legal admissibility, enforceability and negotiability of electronic contracts of all kinds. For eLeases, eNotes or eContracts, all electronically signed contractual documents must be maintained and managed according to requirements set by UETA, ESIGN, UCC Revised Article 9-105, and/or other regulations in order to ensure there is only one original, or "authoritative copy" in existence.

These requirements include rules for creating an Electronic Original contract, where the electronic signature is considered the legal equivalent of a "wet ink" signature. This is especially critical when pooling and securitizing loan documents for the secondary market. Standard & Poor's and other ratings agencies have accepted eContracts as equivalent to paper so that a properly maintained and secured eContract is rated no differently when sold on the secondary market. Fear of being unable to sell electronic negotiable instruments into the secondary market has been laid to rest with the successful securitizations of eContracts that eOriginal's advanced vaulting technology has enabled and protected.

There is a difference among types of electronic vault technology. "Standard" on line vaults offer long-term, secure storage. Though important and sufficient for many documents, it is insufficient for the stringent requirements and standards applied to electronically signed financial contracts. As an example, in this white paper, a court case describes how the inability to prove the unaltered status of an electronic document led to a disappointing ruling against a major credit card company; a type of verification an advanced electronic vault would have provided as a matter of course.

Also included in the white paper are a list of "must have" advanced vault features, deployment options, and a diagram of an electronic document's life cycle showing how and when vaulting is recommended and what happens once a document is vaulted.

The white paper is available to download free by going to: http://www.eoriginal.com/products/download_wp.php.

Source: eOriginal

Contact ALTA at 202-296-3671 or communications@alta.org.

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