It is important to understand the legal framework in relation to the enforceability of
electronic signatures before adopting
electronic signatures for your business.
Does your firm currently permit
electronic signatures or is it considering doing so for new client relationships?
In this article, I will be taking a tightly focused view of Annex 11, (3) specifically the interpretation of clause 14 for
electronic signatures.
The validity of
electronic signatures under the common law:
Public Law 106-229,
Electronic Signatures in Global and National Commerce Act, of June 30, 2000, defines an
electronic signature as "an electronic sound, symbol, or process attached to, or logically associated with, a contract or other record and executed or adopted by a person with the intent to sign a record.
The number of lenders that are now in conversations about moving into
electronic signatures has increased tenfold over this time one year ago.
Not coincidentally, this is the arena in which the Department of Education (DOE) first provided definitive guidance on e-sign requirements with the July 2001 publication of Standards for
Electronic Signatures in Electronic Student Loan Transactions.
North Carolina revised an existing UETA law by expanding its application to electronic records and
electronic signatures, without affecting transactions subject to any other law, he said.
The Finnish government has decided on the contents of the new law governing
electronic signatures.
According to Benjamin Wright, noted e-commerce attorney and co-author of Law of Electronic Commerce, "How, where and when
electronic signatures are used requires the same care and common sense that one would apply to the use of pen and ink signatures.
Can I require all of my clients, customers or business associates to transact business using
electronic signatures or records?
Ontario has become the first Canadian province to grant legal status to
electronic signatures.
