Electronic Signature Legality for Mortgage Quote Request in India: Simplify Document Signing Process

How to eSign a document: electronic signature legality for Mortgage Quote Request in India

hello everyone and welcome to today's video where we will be talking everything about document signing we'll be looking at the differences between electronic and the digital signatures how to use the right type of C major solution and looking at the different levels on what they mean so let's get started so my first question is I have read and heard a lot recently about digital and electronic signatures can you explain what the differences are absolutely the easiest way is to start with electronic signatures now electronic signature is simply an electronic version of a person's agreement to a document or data now this is intended to be the equivalent of a wet ink signature in simple terms it is an electronic version of a handwritten signature okay I see so I can start a copy or use an image of my physical signature and that would be per signature yes or script okay but what about what about digital features are they not the same no so additional signature uses encryption methods to verify the contents of the document and the size identity whereas electronic signal chart says evidence that the sign of a document has agreed to its contents okay I've not of course so the digital signature is an enhanced level of electronic signatures which uses digital slipper Cuts known as pki or public key infrastructure which really proves the identity of a sign up which can be either an individual or a business whereas electronic signature does not prove the identity technology and that we are decoupling but how does that actually work okay so will it get a little bit technical now we remember a client at the digital signature to a document using cryptography methods such as tki as I just mentioned it takes your digital stepper cut which is used to verify your identity to create the hash of the adoptment now a hand she is simply a computer-generated algorithm or otherwise known as a digital fingerprint this hash is then encrypted using the sonus type of key combining the hash and Albert key forms additional signature when a dolphin is to be signed and sent to someone the recipient can then use the size public key to decrypt the document this confirms the content of the document and said that is blue they say they are the circuits can use this to identify the doctor's originality but they don't need any additional software to access the document oh yes that was a little technical but mostly broken down and now I won't start it in the dignities of how they work I'd like now to explore what why digital signatures are important can you elaborate of course well it would help them it would be far too easy to dispute the content of the document has not been altered it also verifies as Silas identity making them ideal for sensitive legal documents and contracts any changes made to assign data or a document invalidates the whole signature and it's good to know that once a document has been digitally signed the contact can be altered I'm aware there is more than one type of digital signature bag can you explain what these are and yeah so actually there are two main types Advanced and qualified an advanced signature provides verification of the size identity and assurance that the document has not been tampered with as I mentioned earlier well it's a qualified signature includes the characteristics of advance but also offers the highest level of assurance as it has to be issued by a qualified trust service provider and using a qualified signature creation device and what is a qualified signature creation device absolutely so a qualified signature creation to buy so otherwise known as a qxcd is a certified and approved hardware device such as s that are used to generate qualified electronic signatures and you also mentioned qualified trust service provider can we expect what you mean by that too yeah so a qualified insurance which is also known as a qtsp is an entity that has been granted to qualify status by national supervisory body that's great thanks I'm stands now but now we can't get these vegetable stickers well well then why do you available um the certificates to be trusted publicly and privately visual services do need to be obtained from a difficult Authority such as Global site with an issue track and revoke certificates okay great I want to change the subject to ecosystem slightly but our belly is still very much linked and our neighbors sometimes capable covers confusion too I've heard the term Millie G about seals and understand these to be something about the old-fashioned Wax Seal are these not the same as digital signatures yeah so sales of visual signatures are very similar to be fair uh the main indifference is that a digital signature can be Associated to both a natural person or legal personal entity whereas a sealed is only Associated to a legal entity it's ideal for bold signing of internal documents for example that he inviting where the emphasis is proving the document originates from a set organization rather than the individual and as you say it represents that wax seal and you know the date and time that the document was action sealed oh okay thanks that definitely clears things up and no wonder people get confused um but the difference is that you either apply a level of the signature appropriate to your businesses whether it's Advanced and qualified or indeed it can be seal but that leads me on to ask me how would I know what a solution or time of seeing each other I should be using well before you start uh you do need to ascertain the regulation requirements and risk associated with your particular signing needs um a simple electronic signature is best used for kind of love onion Sunny requirements and non-regulated industries there's no real risk um such as I need a receipt of a training session or an internal memo an advanced electronic signature he is an additional signature ideal for higher volume signing needs and people regulates the industries and requires basic or identity vetting good examples are signing off expenses purchase orders to a certain level or medium risk internal documents and then we had a qualified electronic signatures which offer the highest level of security and Assurance with null reputable dolphins and it'll lead you bind in conforming to the highest requirements regulations such as eidas and esign these are ideal for signing High mailing purchase orders uh contracts sending HR dog from moons update touring Etc Edition we do have yeah so we had a digital signing service or DSS which enables organizations to sign documents with Advanced Digital signatures and sales quickly easily and securely and then we have the qualified signing Service uh sure it says which provides a secure authentication solution for qualified signatures and sales that's great thank you thank you Eid s and e-signed are there any other regulations around either electronic or digital signatures there are but let me just explain a bit more about the eyeglass and ease sign so eidas stands for the regulation on the electronic identification and Trust service it was created by the European Commission it helps establish trust in electronic transition of transactions between individuals organizations and government entities across the European member states east side is the US electronic signatures in global and National Commerce at and that's from 2000 and that legislative that electronic signals are legal in every state and U.S territory where federal law plants well what about other countries are there any other regulations that our customers need to be aware of well there are that quite a few different these things with laws and customers should really check the local requirements before implementing a solution just to make sure well thank you very much called this information I hope and I hope this helped the viewers to understand the differences between electronic signatures versus digital signatures the levels of Trust on what they can be used for if you would like to learn more about both side different solutions or to talk to one of our experts don't hesitate to get in contact [Music]