What is Digital Signature?
A digital signature guarantees the authenticity of an electronic document or message in digital communication
and uses encryption techniques to provide proof of original and unmodified documentation.
Digital signatures are used in e-commerce, software distribution, financial transactions and other
situations that rely on forgery or tampering detection techniques.
FEATURES OF E-DIGITAL SIGNATURE
- RESPECTS PRIVACY: We respect the privacy of the user, allowing only to store fingerprints instead of the entire document.
- PROVIDES LEGALLY VALID E-SIGNATURES: We provide legally valid e-signatures bounded by the law that governs the country. The process incorporates the approval of the user, request for digital signature issuance, creation and affixing of digital signature, and acceptance of digital signature in accordance with the Information Technology Act.
- EASY TO IMPLEMENT: We at E-Signature provide easy implementation by providing configurable authentication options. The user’s E-KYC ID is recorded in order to verify their identity. eKYC is authenticated via biometric and OneTime-Password of the KYC Service facilitator.
- SECURE SERVICE: Our service is bounded by strict e-authentication guidelines. The user's authentication is performed by the eKYC Services and the document's signature is performed by our backend server. Users' private keys are created on Hardware Security Module and are destroyed after a single use in order to ensure security.
LAWS GOVERNING E-SIGNATURES
Laws governing the use of E-Signatures in India are:
- Information Technology Act, 2000 (“ITA”)
- Indian Contract Act, 1872 (“ICA”)
- The Electronic Signature or Electronic Authentication Technique and Procedure Rules, 2015 (“ESEATPR”)
- Indian Stamp Act, 1899
DOES INDIA RECOGNIZE AIR SLATE E-SIGNATURE AS A VALID TYPE OF E SIGNATURE?
Information Technology Act (ITA) does not recognize the Air Slate signature. However, it is not prohibited to use the service. According to ITA, a contract cannot be denied, citing the digital nature as the reason provided all other conditions are met under ITA.
E-SIGNATURE USE CASES FOR SMALL BUSINESSES
The Owner or manager of the company is often required to deal with multiple departments of his organization to keep up with the functioning. As a result, dealing with documents becomes a substantial part that requires signatures. One is likely to deal with vendor and supplier agreements, sales contracts, customer forms, etc.
It is no surprise that it would consume a substantial amount of your time that could be put into other productive causes instead. If you feel caught up in the same problem, we at e-digital signature provide e-signature services for businesses and individuals of your like seeking to provide a seamless customer experience.
Still wondering about the efficacy of digital signatures? Look no further, we have got you covered. Below are the powerful use cases of e-signatures:
The agreement form of purchase order likely constitutes pricing terms, shipping, scope, intellectual property, and other conditions. Both the seller and purchasing party seek a quick and efficient process that they execute using our e-signature service. Moreover, all the eSignature documents are protected by multiple levels of encrypted security.
Sales Contracts are vital documents to any company. Using our eSignature service, you can carry the deals seamlessly without much hassle in minutes, unlike the traditional way, which requires days and weeks to close the deals.
Emerging businesses invest a considerable amount of time in maintaining and improving their relationships with their suppliers, as well as coordinating procurement activities. These businesses are shifting from tedious paper-driven work to digital workflow.
Project-based businesses, including construction, web design, and architecture, are often exposed to the probability of a change in terms. A sudden change could usually disrupt the ongoing process, leading to a temporary hold on the activity. The eSignature feature allows an organization to make the change quickly upon the requested order without any delay.
When customers seek to do business with you, they are required to fill out forms and do other necessary paperwork, which could consume a substantial amount of your time and increase your material costs. eSignature helps minimize the hassle by providing eSignature service on electronic enabled forms. eSignature enables easiness in your business, allowing approvals with ease and closing the deals in quick successions.
Real Estate Contracts:
The 2020 Pandemic led the state and federal agencies to bring in amendments to their real state rules, allowing eSignatures based real state contracts. Since then, eSignatures based real state contracts have been used in millions of such transactions, providing efficiency, less time consumption, etc.
HOW IS THE E-SIGNATURE SENT?
- The sender chooses the file to be digitally signed on the document platform or application.
- The file's content unique hash value is calculated by the sender's computer. After encrypting the hash value with the sender's private key, the digital signature is created.
- Digital Signature is sent to the receiver along with the original file.
- The receiver decrypts the digital signature using the sender's key.
- The hash of the original file is computed by the receiver's computer and is compared to the decrypted hash of the sender’s file.
What is digital signature in e-commerce?
Digital Signatures are used in signing electronic documents. In eCommerce, the security of users is ensured through digital signatures, which help build trust. It provides the eCommerce with evidence to validate documents, transactions, etc.