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			Transaction  verification
			The use  of recordings to document or verify transactions is growing. Although the idea of a verbal contract has been accepted for many years, recent  regulatory and legislative changes are beginning to require recording of certain transactions under a variety of circumstances. At the regulatory  level, the Federal Communications Commission and many state public utility  commissions now require that Third Party Verifications be recorded. (Third Party Verification is a process in which an "independent third party"  confirms a customer's decision to select a telephone company, or in some  cases, an electric utility or natural gas provider.) In a very few states,  the entire telephone transaction for telephone company selections must also be recorded. Recently, as part of its Telephone Sales Rule, the Federal  Trade Commission required that under certain circumstances, a portion of a telephone sales call could be recorded to provide "express verifiable authorization." Under certain other circumstances, the FTC required  that the entire telephone sales call be recorded. We are also aware of SEC settlements in which a brokerage company agreed to record all of its  transactions to resolve disputes. At the legislative level, the most important development in this area is the Electronic Signatures  in Global and National Commerce or "E-Sign" Act, passed in 2000. The E-Sign Act allows parties to an agreement  to use "electronic signatures" for "electronic agreements"  and permits a wide variety of elements to be used as electronic signatures,  including sounds. Under the E-Sign Act, therefore, a call center could potentially obtain a customer's recorded agreement to a contract and have  that agreement treated as though it were a signed contract. *Content from "Recording and Monitoring Call Center Transactions: A VoiceLog White Paper."
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