The Central Government shall for the purposes of this Act prescribe the security procedure having regard to commercial circumstances prevailing at the time when the procedure 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 transactions 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.