The growth of Internet use has been nothing short of phenomenal. Just a short 10 years ago, there were only 1.13 billion users of the Web. Today, our connected world is made up of 3.5 billion users.
Current worldwide retail e-commerce sales have touched US$1.86 trillion and are expected to grow more than two folds to US$4.48 trillion in 2021.
With half of the world’s population spending an increasing amount of time online, it is inevitable that e-commerce will replace the traditional methods of how businesses are now conducted.
Past traditional real world contracting will give way to transactions which are done remotely on the Web, devoid of physical transactions or tangible documents and dictated by predefined terms and conditions which must be displayed prominently and accessible easily with innovative acceptance processes built-in.
To cater to the new order of commerce, it is very important for commercial entities on the Web as well as mobile applications to have proper contractual documentation in place and processes that would bind and confirm users’ acceptance of the rules of the site.
Here’s a brief infographic of the 7 must-have provisions on any commercial website.
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For more insights on how to craft effective and safe terms and conditions and privacy policies for your web presence or mobile applications, please visit us at FTCC at www.ftcc.com.my or email queries or comments to firstname.lastname@example.org