E-signatures: Why you need them
Electronic signatures are digital versions of your signature that indicate your agreement to the contents of an online contract. They provide a hassle-free way to sign documents remotely, eliminating the need for physical paperwork and enabling more streamlined transactions.
They are legally binding for a variety of purposes and can either be typed, drawn on the screen of an electronic device, or uploaded from your desktop. This modern alternative to wet signatures has been adopted across the world, as it empowers individuals and businesses to sign documents online in a legal, secure, and efficient way.
How digital signatures are revolutionizing Colombian commerce
Digital signatures are changing the way business is done in Colombia by streamlining transactions, enhancing security, and reducing reliance on paper-based processes. The Colombian government has actively promoted their adoption, and even implemented digital signatures at the highest levels of government. This positions Colombia as a digital front runner in Latin America and the Caribbean, driving the country towards a more efficient, paperless economy.
Adopting Zoho Sign can drive Colombian businesses toward greater success by addressing key factors, including:
- Accelerated workflows
- Enhanced efficiency
- Robust authentication
- Advanced security measures
- Seamless remote access
- Streamlined user experience
- Cost-effectiveness
E-signatures: Key industries and applications
E-signatures have become indispensable in various Colombian industries, streamlining operations and boosting efficiency. Key sectors benefiting include:
Use of e-signatures in Colombia
When a law requires a signature or stipulates consequences for its absence, this can be met through a method that both identifies the individual sending the electronic data and signifies their approval of its contents. This method must be both reliable and suitable for the intended purpose.
Legislation regulating the use of electronic signatures and accreditation of certification entities includes:
- Law 527 of 1999
- Decree 2364 of 2012
- Decree 333 of 2014
Types of electronic signatures as defined in Colombian law
Digital Signatures:
"A numerical value that is attached to a data message and that, using a known mathematical procedure, linked to the initiator's key and the message text, which allows to determine that this value has been obtained exclusively with the initiator's key and that the initial message has not been modified after the transformation has been carried out."
Electronic Signatures:
"Methods such as codes, passwords, biometric data, or private cryptographic keys, which allow a person to be identified in relation to a data message, provided that it is reliable and appropriate for the purposes for which the signature is used, taking into account all the circumstances of the case, as well as any relevant agreement."
Legal recognition of Digital Signatures
A Digital Signature is considered to be legally equivalent to a handwritten signature if it meets the following conditions:
- It is unique to the signer and remains under their exclusive control.
- It can be independently verified.
- It becomes invalid if any alterations are made to the electronic data after the signature is affixed.
Presumptions arising out of the use of Digital Signatures
Unless proven otherwise, it is presumed that the signer had the intention of approving the contents of the electronic message and being linked to the electronic message.
Legal recognition of Electronic Signatures
An Electronic Signature satisfies the requirement for a person's signature if the parties agree, and the signature used is reliable and appropriate for its intended purpose. Additionally, an Electronic Signature is legally regarded as equivalent to a handwritten signature if it meets the following conditions.
- The signature creation data is unique to the signatory.
- It can detect any alterations to the electronic data after the signature is affixed.
Obligations of a signatory
1. To maintain control and custody over the signature creation data
2. To act diligently to avoid unauthorized use of signature creation data
3. To give prompt notice to any person who possesses, has received, or will receive documents or data messages electronically signed by the signatory, if:
- the signatory is aware that the signature creation data has been compromised; or
- the signatory is aware of circumstances that pose a significant risk of compromise to the signature creation data
Presumptions arising out of the use of Electronic Signatures
Unless proven otherwise, it is presumed that the method chosen or agreed upon by the parties meets the requirements for an Electronic Signature. The responsibility to demonstrate that the Electronic Signature used is technically secure and reliable for its intended purpose rests with the party relying on that Electronic Signature.
Legal exemptions
Digital Signatures and Electronic Signatures are excluded from being used in the following cases:
- In obligations undertaken by the Colombian State under international conventions or treaties
- In written warnings that, by law, must be printed on specific products due to risks associated with their marketing, use, or consumption
Certificates issued by foreign certification entities
The requirements and procedure applicable to a local certification entity apply to a foreign certification entity as well. Additionally, the concept of reciprocal certification allows an accredited local certification entity to recognize a digital certificate issued by a foreign certification entity as valid. To grant this recognition, the local certification entity must provide the guarantees required under Article 9 of Decree 333 for any potential damages caused by the recognized certificates.
Chronological stamping
Chronological stamping is defined as a "data message that links another data message with a specific moment or period of time, which allows establishing with proof that this data existed at that moment or period of time and that it did not undergo any modification since then from the time the stamping was made." This process securely binds the date and time to the document, ensuring its authenticity and integrity.
Zoho Sign partners with recognized timestamping authorities, GlobalSign and Seiko, to provide trusted chronological or digital timestamps for electronic transactions. These timestamps validate the authenticity of e-signatures and verify that the signed document existed in the given form at the time of signing and remains unaltered, adding a robust layer of security to the signing process. By making signatures tamper-proof, digital timestamps enhance the reliability of signed documents for both legal and commercial purposes.
Protect your business with Zoho Sign's legally valid e-signatures
Zoho Sign's advanced security and privacy features empower Colombian businesses to operate efficiently and stay competitive in the digital market. Here's how Zoho Sign can make a difference:
Authentication methods:
Zoho Sign offers various authentication methods such as email authentication, SMS authentication, dynamic knowledge-based authentication, and identity verification via third-party trust service providers.
Audit trails:
Audit trails provide a comprehensive record of every action taken on a document, ensuring full transparency and accountability throughout the signing process. This detailed log enhances security and serves as legal evidence in case of disputes, making it a vital tool for businesses to maintain compliance and trust in their digital transactions.
Control over the data being signed:
Only the signatory is allowed to review the document before signing and provide choices to make changes or reject the document if necessary.
Enhanced security:
Zoho Sign employs robust encryption protocols, such as the military-grade AES-256 encryption at rest and the TLS/SSL protocol in transit, to ensure that the data transmission between the signing platform and the data being signed is secure. This prevents exposure of documents and data from data breaches.
Detectable alterations:
Zoho Sign ensures any alterations to the electronic signature or the document to which the signature is affixed are detectable through an elaborate audit trail of occurrence of all activities during the signing process. This comprises critical information such as the identity of the signatory, the timestamp of the signature, and changes made to the document.
Key takeaway
E-signatures are essential for businesses navigating a digital-first landscape. Their efficiency, security, and adaptability are driving significant transformations across multiple industries in Colombia. Zoho Sign can be the game-changer Colombian businesses need to streamline their digital transactions, as it allows users to collaborate seamlessly from anywhere in the world—all from the comfort of their homes, and at a fraction of the cost. Join Zoho Sign today and explore everything that we have to offer!
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Disclaimer
The information provided in this document is for general informational purposes only and shall not be construed as legal, regulatory, or any other form of professional advice. Zoho Sign disclaims any liability for any error in the information provided herein. We recommend that you consult your legal counsel for any questions that you may have in this regard.