Hi all,
I send out around 1000 contracts and deeds of guarantees a year. Getting them back is a nightmare.
I have been looking at digital certificates and digital document signing. I am happy they are recognised as legal, and that the software and security is adequate and that if I went to court it would be seen as valid.
All our guarantors are signed as Deeds - eg executed as a deed and witnessed. My understanding is, it is done this way due to the lack of consideration in return for the guarantor standing as guarantee - it has to be a deed to be seen as a contract.
Now, to complicate matters, the digital signing of documents only captures a single signature - it is impossible for a witness to put their name to the agreement, as it is done online. A couple of the services have a "fax" service, which allows the person to download a fax cover sheet with a bar code, that when downloaded, printed, signed and faxed back to the document signing company is re-incoroprated as a signature into the original document. However again no option to witness.
So..... can I get round the deed problem by making some form of consideration? May be a small payment to the guarantor in return for being a guarantor, which avoids the need for making it as a deed? We can certainly cost in a £5 or £10 payment to the guarantor in consideration of them standing as such...
Thanks all and if you made it this far, top work!
I send out around 1000 contracts and deeds of guarantees a year. Getting them back is a nightmare.
I have been looking at digital certificates and digital document signing. I am happy they are recognised as legal, and that the software and security is adequate and that if I went to court it would be seen as valid.
All our guarantors are signed as Deeds - eg executed as a deed and witnessed. My understanding is, it is done this way due to the lack of consideration in return for the guarantor standing as guarantee - it has to be a deed to be seen as a contract.
Now, to complicate matters, the digital signing of documents only captures a single signature - it is impossible for a witness to put their name to the agreement, as it is done online. A couple of the services have a "fax" service, which allows the person to download a fax cover sheet with a bar code, that when downloaded, printed, signed and faxed back to the document signing company is re-incoroprated as a signature into the original document. However again no option to witness.
So..... can I get round the deed problem by making some form of consideration? May be a small payment to the guarantor in return for being a guarantor, which avoids the need for making it as a deed? We can certainly cost in a £5 or £10 payment to the guarantor in consideration of them standing as such...
Thanks all and if you made it this far, top work!