eSignature is the acronym for Electronic Signature.
A digital representation of a person’s intent to sign a document or agreement. It serves as a legally binding and secure alternative to traditional handwritten signatures on paper documents. Here are some key details about eSignatures:
- Legality: eSignatures are legally recognized in many countries around the world, including the United States, Canada, the European Union, and many others. Various laws, such as the U.S. Electronic Signatures in Global and National Commerce (ESIGN) Act and the European Union’s eIDAS Regulation, have been enacted to ensure the legal validity of electronic signatures when certain requirements are met.
- Types of eSignatures: eSignatures can take different forms, providing flexibility and accommodating individual preferences. The two common types are:
- Typed Signatures: This involves typing your name or any other text to represent your signature. It can be as simple as selecting a font and typing your name in a designated signature field.
- Drawn Signatures: This method allows signers to draw their signatures using a mouse, touchpad, or stylus on a touchscreen device—the drawn signature attempts to replicate a traditional handwritten signature.
- Advanced Authentication: To enhance security and verify the signer’s identity, some eSignature platforms offer advanced authentication methods. These can include multi-factor authentication, digital certificates, or biometric verification (e.g., fingerprint or facial recognition).
- Legal Standards and Compliance: To ensure the legality and enforceability of eSignatures, it is important to choose an eSignature solution that complies with applicable laws and regulations. Look for platforms that adhere to standards like ESIGN, UETA (Uniform Electronic Transactions Act), or the European eIDAS Regulation, which provide guidelines for the use of electronic signatures.
- Document Integrity and Security: A reputable eSignature platform should prioritize the security and integrity of your documents. They should offer encryption protocols, secure storage, and audit trails to track and verify any changes made to the signed document.
- Global Acceptance: eSignatures have gained widespread acceptance across industries and are commonly used in sectors such as real estate, finance, healthcare, legal, and human resources. The convenience, efficiency, and cost savings associated with eSignatures have made them a preferred choice for organizations of all sizes.
It’s important to note that while eSignatures are legally recognized in many jurisdictions, certain documents may still require specific formalities or not be eligible for electronic signatures. It’s advisable to consult local laws or seek legal advice for specific document requirements or exceptions.
- Abbreviation: eSignature