How And When Electronic Signature Are Valid
24 Oct 2023
eSignature software is taking over the business and legal entities fast. Thanks to its numerous benefits like document transparency, increased productivity, better time management, and outstanding security. Today, if you are unaware of electronic signatures, you would just be missing out.
The most common question you would encounter is whether or not eSignature software is valid. Technology is taking over every space, and it is time for all business professionals to wake up. Do you still want to wait hours before your documentation process is completed? That is nothing but a huge waste of time and resources.
Let us discuss how and when you can use electronic signatures to improve your business.
Are Electronic Signatures Valid?
In a sentence, the answer is yes, they are. Electronic signatures are legally enforceable and valid. Although there are specific needs that you have to meet, they often have the same legal effect as any traditional wet signature.
Think of a traditional contract. What is the most important element of validity there? It is the intent of the signer. Similarly, for an eSignature, the signing party's intent is the most critical part.
The requirements that you would need to meet to have a valid electronic signature are:
- The consent of the parties. Say you are in a B2B business. You need to state that your clients have consented to this agreement.
- Say you use eSignature software to create a signature. The software should also record the process you used to create the signatures.
- If someone wants, they should be able to reproduce the records of that electronic signature. The eSignature software should retain and store the data securely.
However, this does not give any extra credibility. When you present an electronic signature to face scrutiny, it holds the same weightage as its traditional counterpart.
When can you not use an eSignature solution?
eSignature solutions serve you with every convenience except one. When discussing agreements, eSignatures lack the extra layer of security, i.e., one or more eyewitnesses. Even when you have track of the documentation process, you would not be able to hack the signers' intentions. And it is one of the most critical aspects of identification.
These documents can sometimes involve a higher risk of false signatures. So, when dealing with a will, declarations, or other critical family or government documents, it is better to use traditional signatures. However, even when security is more important than efficiency, eSignatures are better left behind in business dealing.
Should You Use An eSignature?
The answer is simple. It depends on the purpose. An eSignature software simplifies the documentation process and improves its management efficiently. So, if both signers agree, an eSignature solution can be the best option for more productivity in less time.
Also, if both parties are residing in different places, you need to understand that a traditional signature is nothing but a bottleneck for you. An eSignature solution can help you get the job done in minutes, while delivery might take days.
If you are busy, then using a great electronic signature solution will change your life. VeriDoc Sign offers some of the best features regarding blockchain secure eSignatures. You can now manage your documents, get them signed or viewed, verify, and securely store them for ages. Always try before you buy, so sign up for a 10-day free trial and enjoy all our attractive benefits.