A wet ink signature, commonly called a wet signature, The term involves signing a physical paper document, form or contract with pen and ink. This traditional method distinguishes itself from electronic signatures (e-signatures), which are used in digital documents. Historically wet signatures have represented binding agreements and have been crucial in preventing fraud.
Today e-signatures can carry the same legal weight as traditional wet signatures in most cases, offering numerous benefits including time and cost savings, reduced risk and an improved experience for customers, partners and employees. E-signatures are widely recognized and accepted globally.
When should you still use a wet signature?
There are a few occasions when you must collect a wet signature to make a document legally binding. Wet signatures are still required for certain documents. These include:
- Wills and trusts
- Adoption papers
- Divorce proceedings
- Court orders
- Eviction notices
- Insurance benefit documents
Additionally some individuals may prefer or insist on using a paper process to execute an agreement or contract, which necessitates the use of a wet signature.
Electronic signatures require that the signer consent to using electronic signature technology. So you should allow a wet signature when the document recipient insists upon a paper process to execute an agreement or contract.
Can you use OpenSign for a wet signature?
OpenSign eSignature is primarily used to manage electronic and digital signatures in the cloud. However, you can also use it to help accelerate the collection and management of wet signatures.
Let’s say that you’re working with someone who prefers signing their agreement on paper. You can still use OpenSign to send the agreement. Digital delivery (Email) of your documents reduces any chance of your documents getting lost in transit. This allows you to get your document to the recipient safely and immediately.
In cases where a wet signature may be required, you can still use OpenSign to handle your documents to expedite initial delivery and manage your documents for future reference.
Aren’t wet signatures more secure than electronic signatures?
Typically, for wet signatures, validity and attribution are established by comparing copies of signatures and presenting testimony from handwriting experts or witnesses who were present at the signing. Not only is this expensive and time consuming, it’s less reliable due to the human element.
E-signatures are more secure than traditional wet signatures and thus less susceptible to forgery. Contracts signed with OpenSign eSignature come with a secure electronic record. OpenSign backend technology records the IP address of the signer, as well as the date and time the document was signed, providing critical data should the signature’s validity come into question.
By removing the chance for human error and automating the entire data capturing process, audit trails make it easier to establish authenticity and address disputes over signatures both in state and federal courts.
What are the drawbacks to obtaining a wet signature?
Companies face several challenges when obtaining wet signatures:
- Turnaround time: When obtaining wet signatures, companies are at the mercy of delivery services, couriers, business days and holiday schedules. When using OpenSign eSignature, 80% of documents are completed in less than 24 hours.
- Cost: It’s not only the cost of the paper and the overnight delivery service that you have to consider. You also have to factor in the cost of lost revenue when it takes over a week to receive a signed contract. A delay in the arrival of your sales contract could give time for a potential client to explore other options from competitors.
- Customer experience: Will customers and partners be eager to sign your document once they receive it, even if there is a delay? Will someone need to travel to deliver the document to either party? Will they run into any barriers, such as not being able to print the document or not being able to reach their courier’s drop off before the weekend. They will likely appreciate the speed and simplicity of reviewing and signing a document online versus printing, signing and mailing it offline.
- Security and privacy: Paper documents can be lost or stolen and it can be difficult to control who has access to the sensitive information contained on them. eSignature offers multiple methods to verify the identity of signers and those who can access the documents.
- Record keeping and retrieval: Documents signed with a wet signature and returned to your company have to be scanned and filed away, either into a local drive or into the cloud. If you or the signer needs to refer to the physical document in the future, it will take longer to retrieve it from filing cabinets or boxes in storage versus pulling it up on your computer.
- Unsustainable: Printing and signing documents require ink and paper, which can be costly, especially if you need to print hundreds or thousands of pages. You also need to allot some budget on gas and other travel-related expenses. Instead of looking for long-term solutions to lower your costs, you end up spending way more than your budget. Plus, the continued use of ink and paper damages the ecosystem. It’s not eco-friendly since printing often leads to a high volume of paper waste.
