Elaborate in detail Procedure of Receipt and Acknowledgment of Electronic Record mentioned in Electronic Transactions Act, 2063.

ETA 2063 Sections 5–7 make electronic communication legally effective by defining when a record is received and acknowledged — vital for e-tender and online applications.

Receipt (when is it received?):

1. Designated address: If receiver named an info system (e.g. [email protected]), receipt occurs when record enters that system and becomes retrievable — even if officer has not opened it.
2. No designated address: Receipt when it comes to the receiver's knowledge (opened/downloaded).
3. Place/time: Deemed received at receiver's business/residence; time is entry into system, not reading time. Sender cannot deny sending after system log proves dispatch.

Acknowledgment (Sections 6–7):

1. If acknowledgment agreed: Receiver must send prescribed/manual ack (auto-reply, signed receipt). Until ack arrives, sender may treat record as unsent after due notice and time.
2. If no ack manner fixed: Any reasonable communication or conduct (reply mail, system log) counts.
3. Effect: Ack proves receipt, not correctness — content can still be disputed, but delivery is established for courts.

Example: dealer uploads bid before 12:00 to portal → server timestamp = receipt; portal auto-ack = proof for dispute "submitted on time".