In a virtual world that offers a handful of options for online applications, and an increasing number of companies and individuals who are adopting new technologies, some potential users still face technical, organizational, and psychological barriers that prevent them from experiencing the exceptional benefits.In the new electronic era, the probability of disputes rises dramatically for electronic transactions without face-to-face meetings, and in the presence of potentially undetectable modifications to electronic documents. An electronic/digital signature is one that addresses all of these concernsand offer far more inherent security than paper signatures.
Electronic signature is defined as the electronic equivalent of a written signature which is attached to or logically associated with other data in electronic form that is used by the signatory to sign a document to signify it’sacceptance or approval.Electronic signatures serve as evidence that electronic data (document or transaction) was endorsed and approved by a natural person, ensuring certainty of the data’s origin and integrity.With the mere swipe of a finger on a mobile device or tablet, businesses can complete legally binding transactions in a matter of seconds that enables businesses to close deals faster, more efficiently and at lower cost.
In a fast paced technologically advanced business environment, we can no longer imagine the digitization of business processes without electronic signatures because:
An electronic signature is a fast and secure way to sign a contract which involves attaching an encoded signature to an electronic document, verifying the identity of the signer and signifying an approval to terms. As a result it directly eliminates the required paper and administrative hassles and takes just mere minutes the time it takes to execute a contract. Electronic seals have the same encryption as electronic signatures, and the result is in both cases a protected document. When a document is sealed, it is possible to verify the origin of the document, as well as detecting if changes have been done to the document after the seal was added.
Some of the major benefits of using e-signature and seal technology in your organisation would be:
The Act on trust-creating services for electronic transactions no. 297/2016 Coll. (ZoSVD) defines the term ‘recognized electronic signature’ that includes the “authentic electronic signature based on the qualified certificate” and the “qualified electronic signature” provided by a qualified trust service provide. The bottom line is that when looking for a solution to manage your signing processes, it’s important to ensure that it is built on digital signature technology to guarantee the integrity of the document and underlying signatures. Without digital signatures, your document-based transactions may not be legally binding, putting you and your organization at risk in the event of a compliance or legal case.
We TRAIBCERT, a Qualified Trust Service Provider (QTSP) offer solutions towards the electronic signatures and seals that include a qualified electronic timestamp, linking the data and the signature at a given point in time and certification. Both electronic signatures and electronic seals are supported technically by digital signatures which are data appended to, or a cryptographic transformation of a data unit that allows a recipient of the data unit to prove the source and integrity of the data unit and protect against forgery. In compliance with the eIDAS regulations, we TRAIBCERT issue certificate for electronic signatures and seals demonstrating an electronic attestation that links electronic seal validation data to a legal person that confirms the name of that person.
TRAIBCERT, being a qualified trust service provider, offer our services towards the electronic signature sector such as:
We at TRAIBCERT understand that you invest a lot of time and energy into each of your business deals, and into the contracts that seal them. So, don’t jeopardize deals chasing down wet-ink signatures as they take too long and any delay puts even the best deal at risk.