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Physically signing your name – a wet signature – was the norm for all legal agreements. That`s no longer true, so The Blueprint covers today`s best practices for wet signatures versus electronic signatures. From there, your recipient can fill in additional information before printing the agreement to sign it. Once they have confirmed it with their wet signature, they can scan the document and upload it to the DocuSign platform. A signature on a document is proof of an agreement or approval between two or more parties. An advantage when using a wet signature is that everyone must be present to collect it. Each person must talk to each other and confirm the details of an agreement. It helps to make sure everyone is on the same page before giving their signature. Switching to electronic signatures can speed up business processes – up to 82% of DocuSign contracts are signed in one day – and generate significant savings – an average of $36 per document. Electronic signatures also include a PIN code entered into an ATM, as well as selecting an “Accept” or “Decline” button in a Digital End User License Agreement (EULA).

The first real change from a nearly 100% reliance on wet signatures began with the use of the telegraph at the time of the Civil War. Military leaders, soldiers, and sympathizers on both sides began using the communication tool to send Morse code messages. The New Hampshire Supreme Court made all agreements made in this manner legally binding in its 1869 decision on Howley v. Whipple. Whether you`re using physical or digital agreements or a combination, you`ll need a document management system to organize and store them securely. One of the advantages of digital document storage is that you can access all the information it contains to create your business metrics. Is your company spending too much time waiting for contracts and agreements to be signed? If you rely solely on wet signatures, the answer is yes. Here`s a quick tip on how businesses can save time and money by replacing wet signatures with electronic signatures. Let`s say you`re working with someone who insists on signing their agreement on paper. You can still use DocuSign to send the contract. This way, you can immediately bring your document to the recipient. You`ll even find that your customers love the convenience of doing business with you by giving them the ability to digitally sign documents.

There`s nothing more annoying than having to sign page by page when you start a new agreement. However, today you will find many countries that have passed laws that give electronic signatures the same weight as wet signatures. This allows you to sign contracts, agreements and financial documents electronically as long as all parties agree. On the other hand, although a physical signature is not required by law for a contract or other agreement, sole proprietorships and other companies may require its use at their own discretion. [3] The discussion in this article is limited to bilateral commercial lending agreements and, therefore, we are not discussing other types of documents that, under the laws of many jurisdictions, generally require wet ink signatures. In addition, the exceptions discussed are only examples and should not constitute an exhaustive or exhaustive list. Lenders should always contact legal counsel as part of the implementation of an electronic signature program. In addition to questioning the legal effect, lenders should ask other questions. . . .