Computerized contracts and electronic client signatures enable unique advantages.
They simplify workflow, accelerate business practices, save time and money, safeguard sensitive data, streamline record keeping, and prevent lost files.
Paper form costs include printing, hard copies, discarded sheets, filing cabinets, office space, and mailing originals to clients. The snail-mail approval process can add pricey and frustrating delays. After customers’ signatures, 67 percent of surveyed attorneys view printed agreements as susceptible to defacements.
Following the 2000 federal electronic signature law, innovative solutions resolved the previous method’s inadequacies. Initial adopters were financial services, insurance companies, healthcare providers, realtors, and other firms relying on paperwork heavily. More ideal users able to fulfill compliance rulings include lawyers, mortgage lenders, and tax preparers.
Emailed and Online Contracts
Organizations like yours create and transmit documents in electronic forms for clients’ virtual signatures. Computerized records avoid unnecessary paper, printing, and postage fees. Similarly, online agreements like click-through contracts require users to click on “I Agree” buttons to confirm acceptance.
Legally Binding Signature Types
Almost all industrialized countries around the globe have enacted various laws that deem e-signatures as legal and enforceable. Less developed nations are starting to join this movement.
The two basic endorsement types are:
E-signatures: Any electronic processes can designate legitimate acceptance of agreements or forms. Diverse methods including signature images, initials, email addresses, passwords, Enterprise IDs, knowledge-based verifications, and phone authentications can validate participants’ identities.
Many e-signature applications track each step to create a timeline from when your company sent the agreement to when your customer opened it and then signed it. Additional details include each approver’s email and internet protocol (IP) addresses. That information generates a secure audit trail that provides clear, easy-to-produce legally enforceable proof of each participant’s endorsement.
Digital signatures: Mathematical schemes authenticate electronic document senders’ autographs as constituting their legally accepted approval or consent. These digital signatures confirm that the intended recipients are returning the acknowledgments they received without alteration. They’re efficient for lawfully binding records since imitation is difficult and time stamping supports validity.
Special software obtains a mathematical summation of a contract. A confidential key encrypts that message hash. When the recipient returns the document, that code serves as his digital authorization. It’s a valid consent for any electronic form type, even unencrypted messages. The certificate that substantiates the signature also protects it. By containing the certification issuer’s digital autograph, anyone can verify its veracity.
Main EDoc Advantages
Switching to e-signatures on computerized forms can decrease the typical 1.5-hour mortgage closing time to just 15 minutes and conserve millions of dollars in paper, document handling, and storage expenses while making financial record access convenient for borrowers online.
Key e-signature benefits include:
Speed: Billers no longer need to wait on the post office, shipping companies, and/or couriers to deliver original papers to and from your clientele. Even when great geographic distances separate parties, they can exchange and sign digital acknowledgments rapidly.
Expenses: Using postal services, freight carriers, couriers, and/or fax machines to distribute printed documents costs much more than computerized authorizations on paperless forms.
Security: Unlike printed documents, electronic counterparts reduce the chances of unauthorized people intercepting, reading, altering, or destroying private contracts during transit. The strictest safeguards and security protocols protect your customers’ personal information.
Authenticity: E-documents bearing virtual signatures are legally binding in court like traditionally ink-endorsed printed forms.
Tracking: Paperless records are easy to track and locate quickly, ending lost file setbacks.
Certainty: Endorsed electronic documents identify signatories with conclusive proof.
Fraud prevention: Imposters can’t forge others’ simulated signatures or submit electronic records, claiming that other people endorsed contracts.
Time stamp: Virtual signatures with time stamps confirm when patrons endorsed documents.
Reputation: Increasing authorization convenience helps strengthen your firm’s position as a tech‑savvy, future-ready, and client‑focused partner.
Formalizing Agreement and Payment Processes
E-Complish’s HostPay for customer-generated internet transactions, VirtualPay for call-center-originated payments, and DevConnect application programming interface (API) for easy system integration initiate computerized forms. An email alerts each patron to sign an EDoc containing a pre-populated single order authorization or ongoing payment plan agreement.
After a purchaser endorses your EDoc electronically, your company and he will receive email notifications that he signed your contract. You can choose to hold it while awaiting merchant approval or activate the agreement’s terms automatically without corporate authorization. E-Complish’s secure servers store your records, which you can retrieve whenever necessary.