What are Electronic Signatures?
In today's digital age, the need for quick and efficient methods to sign documents has never been greater. Electronic signatures, or e-signatures, are a secure and legally recognized way to sign documents electronically, eliminating the need for traditional paper and ink signatures.
Benefits of Electronic Signatures:
- Convenience: Sign documents anytime, anywhere.
- Speed: Accelerate transaction times.
- Security: Enhanced security features to protect your data.
- Cost-Effective: Reduce paper, printing, and mailing costs.
- Environmentally Friendly: Minimize paper usage and contribute to sustainability.
eSign and EUTA Compliance
At Broker Buddha, we understand the importance of adhering to legal standards and regulations to ensure the authenticity and enforceability of electronic signatures. Our electronic signature feature is fully compliant with both the Electronic Signatures in Global and National Commerce Act (eSign Act) in the United States and the Uniform Electronic Transactions Act (EUTA).
eSign Act Compliance:
- Legal Validity: The eSign Act provides that electronic signatures are legally binding and enforceable in the same way as traditional handwritten signatures.
- Consumer Disclosure: Ensures that consumers consent to receive information electronically and are informed about their rights.
- Record Retention: Electronic records are maintained accurately and can be reproduced as required.
EUTA Compliance:
- Legal Framework: EUTA provides a standardized legal framework for electronic transactions, ensuring that electronic signatures are recognized and enforceable.
- Interstate and International Recognition: Ensures that electronic signatures are valid across state lines and can facilitate international transactions.
- Security Standards: Establishes guidelines for the security and reliability of electronic signatures and records.
How Our Product Ensures Compliance
Our electronic signature solution is built with compliance, ensuring that every electronic signature collected is legally binding. Here’s how we ensure compliance with eSign and EUTA:
Intent to sign
E-signatures are valid only if the signing parties show clear intent to sign the document. This can be achieved by having signers type their signature, click on a distinctly marked Accept button, or draw their signature using a mouse or stylus.
Consumer consent
Consent provisions in the ESIGN Act mandate that the signing parties must agree to conduct business electronically.
Signature attribution
An e-signature must be clearly affiliated with the person who has signed the document.
Audit trail
In order to prove that an e-signature is connected to the signed document, a party must be able to provide information about the transaction if requested. This includes signer details, a date and time stamp of when the transaction took place, geolocation and IP address, and documentation of the authentication process.
Record retention and consumer disclosure
The ESIGN Act mandates that consumers be provided with a “clear and conspicuous statement” informing them of their right to receive a copy of the record of their transaction in a non-electronic form. These records must accurately reflect the original document, be accessible to both parties, and be available for later reference either online or as paper documents.
At Broker Buddha, we are committed to providing a seamless and secure electronic signature experience that meets the highest legal and regulatory standards. Our feature simplifies the signing process, enhances security, and ensures compliance, allowing you to focus on what matters most—your business.
Get Started Today
Experience the convenience and security of electronic signatures with Broker Buddha. Contact us to learn more about how our compliant electronic signature feature can benefit your business.
.svg)
