The Central Government shall for the purposes of this Act prescribe the security procedure having regard to commercial circumstances prevailing at the time when ocedure was used, including - (a) the nature of the transaction; (b) the level of sophistication of the parties with reference to their technological capacity; (c) the volume of similar transaction engaged in by other parties; (d) the availability of alternatives offered to but rejected by any party; (e) the cost of alternative procedures; and (f) the procedures in general use for similar types of transactions or communications.
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