electronic signature

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electronic signature

The electronic equivalent of a handwritten signature. There is more to it than pasting a graphic of a signature into a text document. Electronic signature software binds a signature, or other mark, to a specific document. Just as experts can detect a paper contract that was altered after it was signed, electronic signature software can detect the alteration of an electronically signed file any time in the future. CIC (www.cic.com) and Silanis Technology (www.silanis.com) are pioneers of electronic signature technology, which has proven especially relevant in the financial, insurance and real estate industries.

More than a Digital Signature
An electronic signature is often confused with a "digital signature," because it uses digital signature technology for detection alteration. An electronic signature also requires user authentication such as a digital certificate, smart card or biometric method.

In June 2000, the U.S. government passed the E-sign bill, which gives electronic signatures the same legality as handwritten ones. See ESIGN Act, digital signature, digital certificate and biometrics.
References in periodicals archive ?
New e-sign capabilities in Adobe Document Cloud, including digital signatures and breakthrough mobile functionality, will bring a new level of efficiency to core business processes by eliminating the time lag and cumbersome paperwork associated with securing ink signatures.
Tom says E-Sign is leading on signatures and identity verification as, later this year, the company will be able to offer identity verification technology, so customers will be able to verify that the person signing is who they say they are, wherever they are in the world.
BillingTree is leveraging the Spring Forum to debut an innovative Reg E & E-Sign document management service.
In addition, DocVerify's new webhook feature is also designed to work in coordination with DocVerify's voice signature system, not only the e-sign system.
For example, although E-SIGN says that an electronic signature can be "an electronic sound, symbol or process"--a very broad definition of technologies--Fannie Mae chose to exclude a "sound" from its acceptable technologies of eSignatures in its eMortgage delivery guidelines.
Simply stated, the E-Sign law and UETA provide that, if all other components are present, a party cannot defeat the validity of a contract simply because it has an electronic signature.
To date, e-sign has found its greatest acceptance on federal financial aid documents.
The rationale is that E-SIGN provides all the "blessing" a franchisor needs to disclose prospects in this manner.
It would have been pertinent to explain that any such modifications could trigger federal preemption under E-sign.
Though the report indicated that it's still too early to judge whether E-Sign will ultimately help businesses and consumers or lead to an increase in fraud, it states that "it is reasonable to conclude that, thus far, the benefits.
Some predict that E-Sign will save the insurance industry upward of $1 billion annually.
In addition, comment is solicited on the need for the Board to interpret the E-Sign Act's provisions requiring consumer consent to receive electronic disclosures and other provisions.