User:Electronicsignatures
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The E-SIGN Act For Use Of Electronic Signatures
Digital Signatures are now used to transact business online. Most of the businesses, individuals and even government agencies find it much convenient to use electronic signatures in signing the documents for verification and authentication especially if the documents do not really need to be printed out. Besides, the use of e-signatures enable the businesses to have a much efficient transactions than before thus creating a much better way of doing business.
You are definitely aware that your signature is very important, as a proof that the paper you signed is automatically consider as legal and binding. There is no difference in signing documents by using electronic signatures. Same as signing in handwritten form, signing in digital form means you are aware that the documents you signed electronically is legal and binding.
Due to wide use of digital signatures on emails and documents that are transacted electronically, government sets law and regulation to handle all matters concerning e-signatures and all documents that are made electronically.
It was 2000 when the law, Electronic Signatures in Global and National Commerce Act otherwise known as ESIGN or “the Act”, is passed by the Congress. This is the law that makes possible the use of digital signatures in dealing contracts either interstate or foreign commerce by giving assurance that the effectiveness of the contracts transacted electronically are legal and binding.
With the approval of this law that governs all aspects of e-signatures and the documents having signed digitally, many businesses are into adopting the opportunity to use this chance for a better business operation. But still, many are not aware on how they comply with the Act.
Generally, the E-SIGN is not requiring anyone to use electronic signature. You will only be affected by the law once you enter transaction done electronically. The moment it happen, there will be a so-called Consumer Disclosure stating that the consumer, provided with consent has the access on any documents or information in digital form that has anything related to the transacted negotiation.
Clearly, the law provides two steps process of signing any documents electronically. The first one is about the disclosure for the consumer’s right in using paper that leads to the agreement on using electronic process and the other one is the actual attainment of electronic signature.
Once the signing of documents takes place the law will now took effect on the electronic records created that are considered as legal documents. The law provides the power to store electronic documents. And every aspects of the transactions shall be with both knowledge of the parties. The records should also be available for access by both parties to practice the sense of availability and accuracy. Both parties must be sure that the signatures are both accessible and accurate for verification.