Electronic signing of contracts
Signing a contract by at least two companies and several people usually requires to print it by one of the companies, sign the paper version by one company, transfer this version for signature to the other business (most often by courier or by post), then signed by the other business and returning the signed version.
What if one of the company notices some mistake and will ask to send the corrected version of the contract for signature? Then all the above steps should be repeated. Can you shorten the process to a few minutes? Yes, you can by using the AMODIT platform and the „AMODIT TrustCenter”.
The benefits of implementing an electronic signing of contracts in an enterprise are many. The most important from the business point of view is of course: lowering costs (printing and sending documents costs to disappear) and saving time, because the process of signing shall be reduced to a few minutes. In addition, the electronic signature increases the certainty that it is submitted by a competent person and the appropriate date. It also prevents frequent occurrences (in case of a classic signature) editing date or other difficult situations to verify.
Shorten the process to several minutes
Preparation of the contract content:
In the AMODIT system, this action supports the functionality of simultaneous work on a document based on the Microsoft Office Online Server. In addition, it is possible to give temporary access to a specific document to view and edit it using MS Word Online by a person outside the organization. Obtaining internal approvals – standard functions are used to transfer and acceptance cases by the logic of the process.
Submission of the document for signature:
With a ready-made contract file (after editorial changes, agreements, and approvals), the document is prepared for signing by the companies. For this purpose, the data of persons who will sign the contract are entered. It may be a separate process related to signing the contract or it may be a separate stage as part of the process of accepting the contract. When the data has been entered, you can transfer the document for signature to the AMODIT TrustCenter. The appropriate function is used for this in AMODIT.
Signing the document:
AMODIT submits the document along with information about the persons required to sign the document to AMODIT TrustCenter. During this time, each of the indicated persons receives an e-mail with information that the document is awaiting its signature. After reading the content of the message, the person obliged to sign the document clicks on the link available in the email and is redirected to the appropriate document. In order to gain access (login), the system sends a one-time authorization code via SMS, which should be entered on the login page.
The document may be freely viewed or enlarged in order to accurately read the contents of the document, it also has created a checksum and the submitted signature applies exactly the version of the document. What’s more, to increase credibility, the checksum of the previous document is also taken to sign the next document. This means that it is not possible to replace any document because it would break the chain of connections based on checksums of all previously signed documents.
In order to sign, the user clicks on the „Sign” button and receives one-time verification code via SMS. By entering this code, he confirms the signature by himself. The authorization elements are an email and a phone number assigned to a specific person. The system informs AMODIT about the signature of a particular user, thanks to which from the level of the case in AMODIT you can see which people have already signed their document. In some cases, the signer may want to add another person to the list of people signing, for example, his legal advisor. The person added in this way will also receive an e-mail with a link and an SMS with a one-time code.
Electronic signatures module with several types of signatures:
- qualified based on PKI (Public Key Infrastructure) and Certified Authorities
- signatures based on electronic IDs
- traditional on paper
A biometric signature is the safest way to sign documents with your own digital signature. Intended for use in all sectors where a manual signature is required. It is intended for use alike in offices and to mobilize partners and agents.
To ensure the authenticity of a PDF document, the system will create an image based on the found data (by SHA-256) which then will encrypt (by RSA-4096) and insert in a PDF document (in archival PDF-A format). The integrity of the document is ensured by a one-time digital signature or certificate. The solution complies with ISO 19794 and ISO 32000.