An EREC framework for e-contract modeling, enactment and monitoring

  • Authors:
  • P. Radha Krishna;K. Karlapalem;D. K. W. Chiu

  • Affiliations:
  • Institute for Development and Research in Banking Technology, IDRBT, Road No. 1, Castle Hills, Masab Tank, Hyderabad 500057, India;International Institute of Information Technology, Gachibowli, Hyderabad 500019, India;Dickson Computer Systems, 7A Victory Avenue, 4th floor, Homantin, Hong Kong

  • Venue:
  • Data & Knowledge Engineering - Special issue: Contract-driven coordination and collaboration in the internet context
  • Year:
  • 2004

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Abstract

A contract is an agreement between two or more parties to create mutual business relations or legal obligations. It defines a set of activities to be performed by different parties satisfying a set of terms and conditions (clauses). An e-contract is a contract modeled, specified, executed and enacted (controlled and monitored) by a software system (such as a workflow system). As contracts are complex, their enactment is predominantly established and fulfilled with significant human involvement. This necessitates a comprehensive framework for generic fulfillment of e-contracts. In this paper, we present an EREC framework for designing e-contract processes, a mechanism that allows modeling, enactment and monitoring. This framework centers on the EREC model that bridges between the XML contract document and Web Services based implementation model of an e-contract.