August 24 2020
According to the E SIGN Act 2000, electronic signatures are considered equivalent, legally, to the wet or written signatures. However, even after 20 years, there are still some ambiguities in the minds of the individuals and businesses regarding electronic signatures. One of the major reasons is that we want to live in the past. however, it does not mean that people do not want to accept it. Only they need the answers to a few questions. In the following post, we will try to answer these questions.
Let us start!
How to define E-Signature?
Electronic signatures are used to sign the documents digitally. It means that you do not need to sign the document with a pen; rather a symbol, character, image, or process will be used to sign it. A letter e-signature has a legal value, and you can replace it with your written signatures. Mostly, people prefer a wet signature for e-signature. It means that you sign originally on white paper. Once you have done it, the software will incorporate it into the system to help you use it as e-signature.
How do firms use an electronic signature?
Normally, the firms use these signatures for finance-related documents and legal papers. However, this concept has been developed at the large scales, and companies are using it for internal documentation, educational papers and research thesis, forms, and all other types of documents, which remain in our daily use. E-signatures are also popular in those firms where scrutiny, security, and confidentiality are very important. By using e-signatures, the documents remain secure, and only legally allowed individuals and firms are allowed to review the documents, and if agreed, sign them.
What benefits, a firm can avail with E-Signature?
With an electronic signature, a firm can send any document to anywhere for completing the signing process. In this way, firms can save time and money on a large scale. While talking about time, the firms can complete the signing process within a few minutes, which is not possible with manual processing, as it can take five to six days in normal situations. Saving money is another benefit because you do not need to spend huge money on purchasing papers, stationery, toners, postage, and faxing, etc.
Are electronic signatures legal?
Absolutely! Almost all countries have made laws and acts for the validation of electronic signatures. The most significant laws are in the United States and for the citizens of the European Union. The remaining countries are following the footsteps of the previously-described acts.
Is e-signature secure?
Security and confidentiality are the top priorities of electronic signature solution providers. Only due to this feature, the acceptance level for electronic signature is high; otherwise, remaining challenges can be handled to some extent. While using an electronic signature, your documents are in the safe hands, as asymmetric encryption and two-way authentication process are available with this technology to keep the unknown or unauthorized people away from your documents.
Has electronic signature proved itself?
The experts know about it since the 70s. However, people started using it in the early years of the 2000s. since then, the professional users have not only used it but also helped the solution providers to improve it on a large scale.
chiran 08/25/2020 08:35
chiran 08/25/2020 08:32