Shorter response times, paperless agreements, fully digitalised workflows – and no more snail mail! The advantages of e-signatures are many and obvious, but at the same time so are the questions surrounding this relatively new – and for many, unexplored – digital tool.
We put together five of the most commonly asked questions concerning e-signatures, and five short and simple answers, with pointers to more resources. We hope you find it helpful!
1. What is an e-signature?
Answer: Electronic signature.
An electronic signature is created when the signatory to an agreement in electronic format clicks to agree to the terms presented in the document. Creating a hand-drawn signature with a mouse or touch screen is optional but not required for the agreement to be legally binding.
By implementing e-signatures into a business workflow you can send, sign and manage agreements at any time and place, on any device – thereby eliminating the time-consuming process of sending paper documents back and forth between parties.
2. Are e-signatures legally binding?
Answer: For 99.99 % of all documents – yes!
In reality, this is actually three questions in one: 1) Are e-signatures legally binding? 2) How do I prove the identity of the signing parties? and 3) What evidence can I show later?
From a legal perspective, e-signatures can actually be stronger than traditional pen and paper signatures.
3. Can we integrate e-signatures into our existing business systems?
E-sign solutions can be integrated into your native systems, and there are countless ready-to-use e-sign apps for many of today’s most trusted and commonly-used business platforms, including HR, contract management, CRM, legal tech and recruitment. You can also e-sign directly from your daily productivity tools and workspaces, including Windows, Word, Chrome and Google Docs.
4. What kinds of agreements can you e-sign?
Answer: Any kind!
Sales contracts, employment agreements, bank authorisations, finance agreements, rental contracts, NDAs, consent forms and service orders are just a few examples. Whatever the kind of agreement, Scrive’s secure solutions meet the relevant requirements under electronic signature, data protection and AML (Anti Money Laundering) regulations. In addition, all signed documents include world-class evidence materials.
5. How much do e-signatures cost?
Answer: Less than paper!
If you compare e-signing to traditional pen and paper signing purely in terms of operational efficiency, there’s no comparison. If you only take into account printing and mailing costs, e-signing is still cheaper.
Scrive’s pricing plans start at €30/month, which in Sweden is the equivalent of sending and returning two documents by post for traditional signing.
Or try Scrive eSign FREE for 30 days – no obligation, no credit card required.