Digital or electronic signature platforms or Application Programming Interfaces (API) give companies software to collect electronic signatures from clients and other businesses. Essentially, the platforms send an email to the recipient who then views the contract and clicks a box at the bottom where their signature will appear. The software takes the client through a verification process where they have to provide information to verify their identity.
These platforms transfer the client to an SSL-certified webpage where they type their name to apply the signature. Once they are done, they click submit. All electronically signed documents are returned to the sender after submission. Continue reading to learn when you need a digital signature API or platform for your business.
Establishing A Partnership With Another Company
Organizations that are trying to form a partnership require signed contracts. Businesses in different geographical areas form these partnerships faster if they use e-signature services instead of mailing or having the contracts delivered. Managing contracts is easier if both parties can see the terms in real time and agree now instead of later.
Upon reaching agreement, the company owner sends the contracts to the prospective partner via an e-signature service. Once they sign the contract, the partner sends the signed copy back to the company via the platform. Talk to a service provider if you need a digital signature API and want to test out these services.
Out-Of-State Real Estate Sales
Sales contracts and closing documents require legal signatures from the seller and the buyer, and real estate agencies conduct sales where at least one party is not in the same state. E-signature platforms are helpful in these transactions because they present information to the client that only they would know to verify their identity. A legal signature is not valid unless the witness has verified the individual’s identity. Since the e-signature documents are sent via email, the platform requires details that no one else would know except the recipient, and after this verification process, all real estate documents are legal and binding.
Filing Court Documents
Court filings require valid signatures from claimants and defendants. A divorce case requires the petitioner to sign the petition, affidavit, and a divorce agreement. Typically, these documents are signed in the attorney’s office, but under certain circumstances, the petitioner and defendant can sign the court documents via e-signature services.
Using e-signature services is beneficial, especially in cases where the petitioner was the victim of domestic violence and must keep their location private. If either in a divorce case is traveling, the e-signature platform can decrease the time required for the divorce and let each party move on with their lives without delays.
Securing A Loan
Personal loans are available through online lenders. Loan contracts are only valid if the borrower applies a legal signature on the documents, and the lender verifies the borrower’s identity. E-signature platforms manage the verification process and make these contracts legally binding. The platforms help borrowers get their money faster and prevent lenders from facing risks.
Speeding Up Business Processes
E-signature platforms are terrific for all businesses and speed up several processes. Instead of waiting for a client to come to the business, the owner can send the contract via email, and the client can apply their electronic signature on several pages of a document at once. They don’t have to spend time flipping through pages to sign all the documents, which can become time-consuming.
E-signature platforms or APIs are beneficial to all companies and improve efficiency in collecting signed contracts and other legal documents. Speak to a vendor about getting these services for your business.