10 Document Types You Can Easily Sign Online
The current COVID-19 pandemic has increased the need to work remotely and sign documents online. Signing online can help organisations and individuals speed up the execution of all agreements and help streamline processes. Although the UK has recently withdrawn from the EU, electronic signatures are still legal following Brexit.
Here are 10 types of documents that can be easily signed online to accelerate contract closing.
1. Transfers of ownership of property, leases, mortgages and other property dealings
HM Land Registry has updated their guidelines during the pandemic and are now accepting witnessed electronic signatures for documents relating to home buying and other property transactions. Paper and wet-ink signatures are no longer required in the conveyancing process. Here’s a guide to how you can use DocuSign eSignature for witnessing and signing HMLR deeds electronically.
2. Non-Disclosure Agreements
An NDA agreement can also be known as a confidentiality agreement. It sets out how you will share information or ideas in confidence, for instance, with a supplier, marketing agency, financial advisor or lawyer. NDAs can be one-way or mutual if both parties are disclosing information. Without an NDA in place, there is a risk that others could use the information you have shared without your permission. Using an electronic signature solution makes it easy to send pre-approved NDAs to all relevant signatories remotely.
3. Request for Proposals or Request for Quote
A Request for Proposal, often referred to as an RFP or RFQ in business circles, is a business document that announces and provides details of a project in order to gain bids from suppliers and third parties that could complete that contract. The RFP document outlines the contract terms and the bidding process, and the information required. Many RFP’s are submitted by government agencies. Contractors and agencies bid to win the contract based on the RFP. While an RFP is not a contract, it may need internal signing before being released by approvers that have to agree it includes all necessary information. You may also require suppliers to sign their response to confirm all the information contained is a true and accurate reflection of their capabilities.
4. Sales Contracts
A sales contract is an agreement created between a buyer and a seller. Both consumer and business contracts can be signed online. A sale of goods contract helps protect both parties by setting out the details of the sale and a description of what is being bought. A sale of goods agreement may include price, description of goods, delivery and warranty etc. Providing sales agreements that can be signed online increases the speed of sales.
5. Master Services Agreements
A typical type of client contract for an open-ended client relationship is a Master Services Agreement. This contract sets out a framework of terms of engagement for future work between two parties, creating the foundation for future business. Master Service Agreements typically include generic terms such as payment terms, dispute resolutions, intellectual property ownership, and more. A Master Services Agreement is a legally binding, and enforceable by law.
6. Employment Contracts and Offer Letters
All employees have an employment contract with their employer. An employment offer letter sets out the details of the position being offered along with a basic work schedule. It covers where employees can find details of the terms and conditions of employment. Candidates are often asked to sign their offer letter, which can form part of their contract of employment. An employment contract sets out terms of employment, including conditions, rights, responsibilities and duties. Creating a contract that can be signed easily online delivers a much smoother and speedier remote employee onboarding process for new hires.
There are many types of lease agreements and arrangements, including tenancy agreements for property rental and car lease agreements that can be signed online. Are you worried if electronic signatures are legally binding in these cases? Discover more about electronic signatures and legality in the UK.
8. Purchase Orders
A purchase order is an offer to purchase goods. When a Purchase Order is sent, it isn’t initially a contract, but it becomes one when accepted by the buyer. There is usually an approval process in place for a purchase order, as the PO takes a journey from creation to closure. An electronic signature solution can help you route approvals to complete purchase orders in minutes rather than days.
9. Financial documents
Many financial agreements can be signed online, like personal loan agreements, and you can also remotely sign documents to open a new bank account. As banks and other financial institutions strive to go paperless and improve customer experiences, signing online has become an essential part of speeding up agreements. Financial services firms must follow stringent ‘Know Your Customer’ (KYC) verification procedures to ensure new customers really are who they say they are when signing online. Electronic signature solutions are often combined with remote ID verification to manage identity checks.
10. Public Petition
Public petitions enable members of the public to petition the House of Commons and press for action from the government. Petitions can be both created and signed electronically. Using an electronic signature makes it simple to gather a large number of signatures at speed.
DocuSign eSignature can really help to speed up the agreement process and aid organisations who need documents to be signed online. With eSignature, 82% of DocuSign agreements are executed in just one day, and 49% in less than 15 minutes. A DocuSign agreement is also secure - it’s tamper-evident and includes a court-admissible audit trail. Discover how to sign a document electronically.