LEGAL MANUAL GUIDE

*VIRTUAL SIGNATURE (NON-AADHAR)*

HOW OUR VIRTUAL SIGNATURE WORKFLOW EASES VARIOUS LEGAL /BUSINESS DOCUMENTATION PROCESSES:

What is A Virtual Signature?

A Virtual Signature is an electronic authentication mechanism and the simplest way of signing documents as it inscribes the normal hand written signature of a person in a digital form.

Why Choose Virtual Signature Over A Handwritten One?

However, a normal handwritten signature can be easily manipulated and challenged but this is not the case with our Virtual Signatures

To increase the security of our Virtual Signatures, the virtually signed document is mapped and can be easily accessed along with the Audit Trail.

This Audit Trail mentions the time, place and location of the document at various stages and thus helps to identify and ascertain the security towards the signature placed over it.

It does not require authentication of it by any authority for it to be legally binding.

How Do You Create A Virtual Signature?

For initiating a Virtual Signature, you will receive an OTP (One Time Password) along with a link on your email address.

Once you open this link and enter the OTP, read and sign the document, that itself will reflect your consent and intention to approve of the contents of the document.

Simply draw your Virtual Signature with the help of your computer mouse in the canvas that opens on the screen to create your virtual signature and if you are using a phone/tablet draw your signature using your finger right on your screen. Its that simple

ELIMINATE PAPERWORK AND START VIRTUALLY SIGNING

What Types Of Documents Can I Sign Virtually?

Human Resource (HR) Documents, Approval letters, Non-Disclosure Agreements, employment contracts, entry-exit forms, approval letters, enrolment forms, communications, relieving and settlement letters, suspension or termination orders or any other simple forms that need to be signed/executed every day in any business.

For all the afore-mentioned documents, Virtual Signature is sufficient and valid as per Section 10A of the Information Technology Act, 2000. However, if a particular document requires a ‘Signature’ as per Regulatory or Statutory requirements, Virtual Signatures may not be suitable. In such cases, our e-Signature using Aadhar should be used.

Why Your Business Needs Virtual Signatures?

Repetitive documentation that merely requires approval from a person can be validly executed using Virtual Signatures.

Your organisation may be big or small, Paper Mess is an issue in all.

Save your time-money and tonnes of storage costs involved in managing all that paperwork by using Virtual Signatures.

If your business is not using Virtual Signatures yet, aforementioned are enough reasons why you should start considering their use, and bonus, it’s good for your Planet too!

For better in depth understanding, read the Law behind Virtual Signatures in Our detailed Legal Report.

*E-SIGN USING AADHAAR*

What is E-Sign?

Aadhaar e-Sign is a valid and secure method of affixing an electronic signature as per Schedule II of the Information Technology Act, 2000.

The e-Sign Service is an online electronic signature service which may be integrated with service delivery applications via an open application programming interface to facilitate an Aadhar holder to digitally sign a document.

E-Signature using Aadhaar Card along with Audit Trail makes it a tamper proof signature hence making it safer and legally valid than a traditional hand signature. (Read Our Legal Report to understand how the Audit Trail Works)

This feature is useful for documents where a ‘Signature’ is mandatory by Law

Digital Signatures including Aadhaar based signatures have more evidentiary value than the hand written signatures.

Who Can E-Sign A Document on Contractzy Platform?

Any person who has an Aadhaar Card issued by the Government of India can avail of the e-Sign service for securely signing an electronic document provided that the12-digit Aadhaar Card Number is linked with his/her Mobile Number.

How Does The E-Sign Get Created?

You can apply e-Sign on any electronic document by authenticating yourself through biometric or OTP (One Time Password) using our trusted third party Aadhaar e-KYC services through our e-Sign Service Provider.

The interface will be provided to you on a variety of devices such as computer, mobile phone/tablet etc.

At the backend, the e-Sign service provider will facilitate key pair generation and the Certifying Authority will issue a Digital Signature Certificate.

The e-Sign Service Provider will facilitate creation of your Digital Signature for the document which will be applied to the document upon your acceptance.

What Kind Of Documents Can I Execute Using Aadhaar ESign?

• HR documents, including employment contracts, benefits paperwork and other new employee onboarding processes
• commercial agreements between corporate entities, including NDAs, procurement documents, sales agreements
• consumer agreements, including new retail account opening documents
• certain forms of real estate documents, such as certain lease agreements, purchase and sales contracts, and related documentation for residential and commercial real estate

Why Choose E-Sign For Your Business?

Saves time, cost, verifiable signature and signatory, legally valid, managed by Licensed CA’s (Certifying Authorities), Aadhaar-based authentication, environment friendly.

How Will E-Sign Prove To Be The Best For Your Business?

Your business may be small, medium or large, time is money for all. E-Sign sure is a game changer for your organisation. Here’s Why!!

• NO MORE FRAUD

The Electronic signature has been designed to completely remove any chance of such fraud.

• CLOUD-BASED SECURITY

Cloud security protects and secures your documents against allnatural disasters or theft as all the information is confidentially saved on the cloud.

• SATISFIED CUSTOMERS

Your Customers /clients will be happy to find a company that values his business, saving precious time and storing all documents in the most secure manner.

• REDUCES OPERATION COST

Imagine having your business set up in Goa and you need to sign a deal with a customer in Mumbai. What better way than using our Aadhaar based E-sign services in such a case to close the deal in 10 minutes?

*E-KYC*

What is e-KYC or Electronic Know Your Customer?

It is a process of verifying the identity of a person in order to prevent the occurrence of identity fraud.

e-KYC is a novel method of conducting the KYC process electronically with the use of Aadhaar Card governed by the Unique Identification Authority of India.

e-KYC can be helpful in assisting corporates to file various compliances easily thereby saving time and money.

How Is e-KYC Helpful For Your Business?

The objective of KYC guidelines is to prevent your Company from being used, intentionally or unintentionally, by criminal elements for money laundering activities or terrorist financing activities.

KYC procedures shall also enable your Company to know and understand its Customers/clients and the financial dealings better which in turn will help your company to manage its risks prudently.

*E-STAMP*

E-stamp (Electronic - Stamp Paper) is a computer based secured manner of paying stamp duty to the Government.

Each E-stamp possesses a Unique Identification Number which is a system generated number which can be used to check the authenticity of the E-Stamp.

How Will E-Stamping Help Your Business?

Unless Stamp Duty is paid to the government, most agreements and conveyances in India are legally not enforceable.

For the payment of this stamp duty you will have to purchase a stamp paper of the required value and affix it to the agreement/document in question.

This is a highly tedious process and to make this whole process seamless, Contractzy has developed its own method of digitising stamp paper and electronically affixing the same on to the agreement to ensure that the entire document workflow remains digital and also comply with the provisions of the Stamp Act.

Try E-Stamping your agreements on our platform and forget about physically procuring stamp papers ever again!

Contractzy Platform offers a complete Contract Workflow Automation solution which includes solutions like virtual signatures, Aadhaar based e-Sign, e-KYC, e-Stamp etc.

e-Sign your documents, merge documents with Digital Stamp Paper and create within minutes with our one-of-a-kind Contract Lifecycle Management Platform.

(To understand the legal provisions concerning our Virtual Signatures, eSign using Aadhaar, e-KYC, e-STAMP kindly read our detailed Legal Report)