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Eg if you’re a CFO, would you being willing to take the risk just to save a couple of bucks on a no-name eSign service for all your sensitive legal & vendor agreements, or use the worldwide Trusted eSign platform of DocuSign - which has gained acceptance by regulators as being an authoritative legal signature of contracts.
Earlier quoted context omitted.
Does it comply with US regulations for e-signatures? Otherwise, what's the point to have a signature that is not legally binding? That is the whole point of signatures. Otherwise it is just an image editor.
The E-Sign Act grandfathered in existing agreements that existed digitally prior to Oct. 1, 2000. All agreements after this date, however, must comply with the following set of guidelines in the E-Sign Act to be considered legally binding: - Intent to sign. Electronic signatures are only valid if the involved parties have the intention to sign. Signature requests can be declined. - Consent to do business electronical…
How secure is it? How confidential are the records? How does it guarantee integrity?
These projects never realize that eSign tech is a commodity, the actual business you are in is creating market level Trust for your platform. Eg if you’re a CFO, would you being willing to take the risk just to save a couple of bucks on a no-name eSign service for all your sensitive legal & vendor agreements, or use the worldwide Trusted eSign platform of DocuSign - which has gained acceptance by regulators as being…
What is the bar for a "legally binding digital signature"? Is this a very complicated topic - or is it quite simple? I can sign a PDF with OSX Preview for free. I can pay a bunch of money to sign with Docusign. Both produce a PDF with a digital image of my signature. I assume both documents constitute a legally binding agreement, so long as I actually preformed the digital signature. What justification do the e-signa…
Not a lot of formality is required for most contract signing, and so long as the other side of a contract is sure that you signed it, a PDF signed in a standard PDF editor like Preview is almost certainly fine.
But if you are making a deed, there are attestation requirements under s1 of the Law of Property (Miscellaneous Provisions) Act 1989 - see https://www.legislation.gov.uk/ukpga/1989/34/section/1
If a company is executing a document, it has to follow the rules in sections 43 to 47 of the Companies Act 2006. See https://www.legislation.gov.uk/ukpga/2006/46/part/4/crosshea...
For property transactions, there's still an issue in use of e-signatures. There's a statutory scheme for "e-conveyancing" set out in Part 8 of the Land Registration Act 2002 which gives the Land Registry the ability to set up provision for using e-signatures for formalities that previously required wet ink signatures. They never got round to actually implementing this up until COVID restrictions made it somewhat impractical to get wet ink signatures so made a temporary change to allow it. When the COVID restrictions were lifted, they've gone back to the old practice but have promised that they're totally going to sort out a permanent solution. Whether they will is another matter.
See https://www.gov.uk/government/publications/electronic-signat...
I've personally used an iPad with an Apple Pencil to sign and have attested a (non-company) deed that had to comply with the LP(MP)A requirements and nobody seemed to have any trouble with it.
I suspect the target audience of a lot of e-signature SaaS products are companies where there are teams managing a lot of documents being signed across multiple jurisdictions, and juggling between sales, in-house legal and so on. Most of the problems those products are solving are likely business process issues rather than strictly legal requirements.
Just today I was forced by Docusign to pay $45/user/mo in order to continue using the service for a single document I had to send out for signatures. Seeing this pop up on HN right after feels really nice. The cloud-hosted version seems to be very simple to use, so nice job on this. Like some of the other comments pointed out, the key element here is trust -- in the 3rd-party platform collecting signatures, and in th…
DocuSign is free for 3 signatures a month - did you need more or were you using more advanced features?
These projects never realize that eSign tech is a commodity, the actual business you are in is creating market level Trust for your platform. Eg if you’re a CFO, would you being willing to take the risk just to save a couple of bucks on a no-name eSign service for all your sensitive legal & vendor agreements, or use the worldwide Trusted eSign platform of DocuSign - which has gained acceptance by regulators as being…
Typical FUD preached by many online companies to lure customers.
Even verbal contracts are enforceable (with the caveats of course). These will be fine for the most boring cases. The others are signed with lawyers anyways.
Earlier quoted context omitted.
If only someone would invent a public nonrepudiatable ledger.
Like a chain of blocks? Where each block is signed by adding a prefix that produces an increasingly difficult hash?
These projects never realize that eSign tech is a commodity, the actual business you are in is creating market level Trust for your platform. Eg if you’re a CFO, would you being willing to take the risk just to save a couple of bucks on a no-name eSign service for all your sensitive legal & vendor agreements, or use the worldwide Trusted eSign platform of DocuSign - which has gained acceptance by regulators as being…
Alternative to eSign is to just send PDF documents. And as the person to add their signature to it.