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COSMOS - Electronic Contracting

Explore the benefits of electronic contracting through the COSMOS Architecture, including structured document editing, standardized validation, and seamless integration into business processes. Understand the necessity of XML representation for structured business data exchange in various contexts.

christopherpsmith
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COSMOS - Electronic Contracting

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  1. COSMOS - Electronic Contracting Michael Merz merz@ponton-hamburg.de Ponton Hamburg

  2. Problems with Contracts on Paper • Contracts are complex • Collaborative editing not supported • No formal validation possible • Difficult to verify signatory/proxy relationships • Media beak: No integration into business processes

  3. Electronic Contracts • An Electronic Contract... • is a well-structured document • From the perspective of formatting • Semantically • is edited/viewed in different contexts • Composition, Printing, Visualisation, Signing • consists of standard elements plus individual extensions • needs to be exchanged • may be manipulated in a collaborative session • is signed by attaching signatures in a standardized way

  4. Offer Database Process Description Offer Selection Contract Template Database Negotiation Signing Offer / Inquiry COSMOS Architecture Market Participant Market Participant

  5. Why XML • Contracts fit well to be represented in XML • Several COSMOS areas require exchange of structured business data • Profiles • Offers / Inquiries • Contracts • Signatures • Workflow execution • This data need to be visualized in various forms: • On-screen vs. printed • In edit vs. in view mode • Separated vs. compound

  6. The COSMOS Contract Model

  7. Execution Phase Signing Contracts Chamber Of Commerce Party1 ... Party N COSMOS Notary Negotiation Phase I Agree I Agree Check Signatories Please Sign Please Sign [ ] [ ] Notarisation Signature, Certificate, Credential < . . . > + + Notary‘s Signature

  8. EU Contract EU Contract Contracts as such... WFM Formalisation (Semi Structured) (Text) PKI COSMOS DTD EU Contract COSMOS Contract Style Sheet (XML) (UML) (XML) (XSL) EU Contract Modeling, Composition, Visualisation, Signing(The big picture) COSMOS Contract Model (HTML)

  9. Standardization Requirements • General • Contract DTD • Contract XSL stylesheets (Print, Screen) • Specific • Signature DTD • Certificate DTD • Product Description DTD • Attribute Certificates (Signatory, Rating, ...) • Expressing/verifying complex authority statement • Contract vs. Product Specification • Embed / refer to document with Product Spec. schema • ToDo: standardizing the vocabulary for assertion statements

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