“Identification sign”, means the sign allotted by the person licensed to authenticate electronic transactions to the person concerned to use, from the receiver in order to distinguish data messages issued by such person from other messages ; "Financial institution", means the licensed bank or financial institution authorized to make financial transactions in accordance with applicable laws ; "Electronic instrument", means financial or commercial paper which is negotiable electronically . Chapter II Electronic Contracting Declaration and expression of will 3. The data message shall be deemed as a means of :(a) declaration of rendering a service, or commodity; (b) expression of will totally, or partially, for the manifestation of offer and acceptance, with the view of establishing contractual obligation . Validity of the electronic contracts 4.(1) Electronic contracts shall be correct and valid when offer and acceptance coincide through data message exchanged by the parties to express two wills which coincide on the subject matter, and put obligation on each other. (2) Notwithstanding sub-section (1) the parties may agree that the contract shall be correct and valid if the will is expressed partially through data message.