World’s largest Internet transaction concluded in Russia

translator — Mon, 27 Nov 2006 21:20:27 +0300

The world's largest Internet transaction took place in Russia, reports the "Business" newspaper. The SETonline trading platform held the largest auction using electronic signature, as a result of which an annual contract has been signed for provision of services to clean premises and provide technical maintenance to the buildings of the Centertelecom company. In the course of the bidding, the price of the contract was reduced by 4.2%: from 121 million roubles (over $4.5 million) to 116.2 million roubles. E-auctions are lucrative for the company, states General Director of OJSC Centertelecom, Sergey Pridantsev: when concluding contracts online you can save up to 40%. SETonline is now the only platform that uses electronic digital signature. A number of Russian laws endow electronic digital signature with legal force and regulate its use.

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World’s largest Internet transaction concluded in Russia