June 30, 2017 marked the 17th anniversary of legislation passing the Electronic Signature and Global & National Commerce Act (ESIGN) signed by President Bill Clinton. On June 30, 2000, the ESIGN Act was put into law enabling electronic signatures legal acceptance for inter-state and foreign commerce; and in 2010, Congress decreed June 30th as National ESIGN Day. Like Mother’s Day, Father’s Day and New Year’s Day, eSign has its own holiday!
Electronic signatures are becoming increasingly popular. Leaders who have incorporated the technology into their business model know the results: save time, money, resources, and close business faster.
“In the month of June 2017, our clients signed and completed 8,323 documents using our eDOCSignature mDTM® platform,” stated Mark Fierro, executive vice president of eDOC Innovations. “eSignatures, remote closing and fulfillment capabilities are creating a new generation of opportunities for our credit unions. With mobile members and consumers changing their banking behaviors and seeking a digital experience, eSignature capabilities are empowering them to complete intuitive and safe digital transactions anytime, anywhere, on any mobile device.”
The ESIGN Act states that any contract “may not be denied legal effect, validity, or enforceability solely because it is in electronic form.” In other words, signing documents digitally is just as legal as a wet ink on paper.