On 14 June 2000, President Joseph E. Estrada signed into law R.A. 8792 "An Act Providing For The Recognition And Use of Electronic Commercial And Non-Commercial Transactions, Penalties For Unlawful Use Thereof, And Other Purposes, also known as the "Electronic Commerce Act."
In its Declaration of Policy (Section 2), it is declared that "The State recognizes the vital role of information and communications technology (ICI) in nation building. The Objective and Sphare of Application of the new law are as hereunder stated:
Sec. 3. Objective - This Act aims to facilitate domestic and international dealings, transactions, arrangements, agreements, contracts and exchanges and storage of information through the utilization of electronic, optical and similar medium, mode, instrumentality and technology to recognize the authenticity and reliability of electronic data messages or electronic documents related to such activities and to promote the universal use of electronic transactions in the
