more-arw search

E-Signatures: Facts You Should Know

Robyn Hayward's Profile

 

When technology is available, take advantage of it. Every business should be using electronic signature software to speed up transaction time, while moving towards a paperless office.

Here are some interesting tidbits about e-signatures and why you should use them:

a)     An e-signature is just as legally binding as a conventional signature. The ESIGN Act passed this fact into law in 2000, stating that an e-signature will be treated just like an ink signature in the eyes of legislation. However, the strength of an e-signature or e-contract as evidence in a court case slightly varies by state in the United States.

b)    An e-signature is any symbol or process used to show agreement and intent to sign. There are many different kinds of e-signatures, and a majority of them are easily used on commongadgets such as cell phones, ipads,  and computers.

c)    E-signatures are 100% ink-free and paperless. The contract is stored in electronic form in an online storage system, and can be easily retrieved as needed, resulting in much less office clutter and disorganization.

d)    E-signatures are fast and convenient. It takes less than a minute to sign a document and send it back with an e-signature. Not only that, e-signatures are accessible from almost any wifi enabled device, making it accessible anywhere you are.

e)    There are some documents (ex. wills and divorce papers) that can not currently be signed electronically. Nevertheless, most document types (ex. agreements, I9s, applications, contracts) are readily accepted with e-signatures.

f)    Typically, e-signature solutions use security protocols on signatures to increase the authenticity of an e-signature. Various types of secure protocols exist, including timestamps, recorded IP addresses, and security questions.

g)     If you click “I agree” during an Internet-based transaction, you are unconsciously using an e-signature. That’s why it’s important to thoroughly read through terms and conditions.

h)    E-signatures are safe and legal, but they are subjected to more scrutiny than ink signatures in legal proceedings. Therefore, it’s important to use an e-signature solution that offers a very solid security system. If not, third parties may tamper with your signed document, bringing its’ authenticity into question.When technology is available, take advantage of it. Every business should be using electronic signature software to speed up transaction time, while moving towards a paperless office.

 

 

Comments

Len Green
Title: Performance Improvement Consultant and E..
Company: Haygarth Consulting LLC
LinkedIn Profile
(Performance Improvement Consultant and ERP Strategist, Haygarth Consulting LLC) |

Robyn
Useful article, thank you! How do you distinguish between e-signature of a document and a business process workflow that enables, for example, approval of a purchase order, invoice, expense report?

Do you see e-signature embedded in certain workflows, e.g. signing a loan agreement, and not embedded in others, e.g. approving an expense report?

Thomas Phillips
Title: President
Company: Effective Agreements
(President, Effective Agreements) |

This is an area of interest that I have not had time to research thoroughly. Whom do you recommend as an e-signature vendor?