E-Signatures
The Government Paperwork Elimination Act (GPEA) requires that federal agencies, when possible, use electronic forms,
electronic filing, and e-signatures to conduct official business with the public.
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Since the passage of GPEA, numerous consumer-based governmental transactions can now be completed
online, thus improving customer service and governmental efficiency. State governments, however, have been a
bit slower to catch up.
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The Uniform Electronic Transactions Act (UETA) provides uniform national guidelines for electronic records and
e-signatures.
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UETA defines an e-signature as “an electronic sound, symbol, or process attached to or logically associated with
a record and executed or adopted by a person with the intent to sign the record.”
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UETA is a procedural rather than a substantive statute, which means that it does not prescribe any legal
consequences for the use of electronic signatures or records.
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UETA also provides minimum threshold requirements for e-signatures, including authentication, user intent,
logical association, and document integrity.
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The Electronic Signatures in Global and National Commerce Act (ESIGN) is a federal statute that specifies that
the use of a digital signature is as legally valid as a traditional signature written in ink on paper, thus establishing
that electronic contracts, electronic signatures, and other electronic records are legally equivalent to paper
counterparts.
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ESIGN and UETA are similar but different, with ESIGN having more comprehensive consumer consent
requirements.
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Under UETA and ESIGN, some documents, such as wills, codicils, and testamentary trusts, must still be printed
on paper and signed with ink.
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In 1999, the European Union adopted European Directive 1999/93/EC to govern electronic transactions and
signatures on an international level.
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The American Bar Association (ABA) identifies four key elements that any type of signature serves, including
evidence, ceremony, approval, and efficiency/logistics.
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There are a number of different types of electronic signatures, including passwords, PINs, and so on.
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PKI uses cryptography to encrypt online documents and involves “public” and “private” keys, as well as trusted
certificate authorities (CAs).
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E-signature technology provides a number of benefits, such as providing additional security, eliminating closing
hurdles, and reducing paper waste and storage.
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Some people worry about the costs and user knowledge required to use e-signature technology efficiently.
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In 2009, the National Association of REALTORS® (NAR) showed its support for e-signature technology by
announcing its partnership with e-signature vendor DocuSign.
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E-signatures can help you get your offers in faster and close deals sooner, make it easier to establish a workflow
history, and save you money by reducing paper usage.
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E-signature technology integrates with customer relationship management (CRM) systems.