Using a wet signature can seem outdated today. Just as we use our mobile phones to tell the time and do not need watches, many people do not use pen and paper but rely on computers and the internet to conduct business. The technology and the highly reliable internet connections available in economically strong nations make a strong case for using digital signatures in business transactions.
Digital signatures can be verified and authenticated electronically. There is much less chance of fraud. It also saves time and cost. This post will consider why people are moving away from wet signatures and using digital signatures.
What is a Wet Signature?
A wet signature is the signature that we use to sign documents using paper and pen. This signature can be made more authentic by writing the person’s name, the official designation, and the date that it was signed. Wet signatures have been used throughout history. They have evolved from marks that were used to identify the authority of certain people. They were accompanied by the official seal showing the designation of the signer. Modern wet signatures are similar to today’s practice.
Reasons Why Wet Signatures are Falling Out of Favor
There are many reasons why the use of traditional wet signatures has been decreasing, especially in developed nations. They have realized that it saves time and money and is suitable for the environment. The following are the main reasons why wet signatures have fallen out of favor in many countries.
The Impact on The Environment
Using a digital signature is good for the environment. It saves the cutting of trees for the manufacture of paper. Cutting down trees can lead to deforestation, adversely affecting the environment. Many advanced countries have committed to reducing their carbon footprint, and using digital signatures will contribute to this goal.
The environmental impact of sending the documents to different people in distant locations means that it can take longer to sign papers and also possibly involve the use of fossil fuels to transport them. It can slow down the whole process and make it inefficient.
Using digital signatures and documents is most efficient as it can be done online and has a lower negative impact on the environment.
Inconvenience
Before signing the documents, the signers must agree to its terms and conditions. If you use digital documents, you can notify others of your reservations by phoning them or emailing them. You cannot do this with a physical document, as the entire document has to be prepared again. It must also be filed in a secure place for efficient access and retrieval.
Expenses
You use stationery like pens and paper every time you use physical documents. We also have to print them out. This needs printers and toners, adding to the cost of doing business. It can also delay the process, leading to lost business opportunities.
Time
All businesses aim to save time and find better ways to work. Using a physical system will lead to delays in completing signatures. You may also experience delays in the transportation of documents. Using a digital signature and documentation system will save you a lot of time as you can tell everyone to sign the document electronically and send it to each other via computer instead of doing it physically.
Can an Electronic Signature Replace a Wet Signature?
Yes, it can. Suppose all the signatories to a document agree to sign the document electronically, using digital signatures, and have the technology infrastructure to do it. In that case, this is a far more accessible and more efficient way to do business.
Artlogo is a digital signature generator firm that allows you to choose between wet and digital signatures. You can draw your signature with a mouse or light pen or upload a saved image to be used in your digital documents. There is the possibility of using cursive signatures to make it more authentic looking so that it stands out. You can even ask one of our professional designers to help you with an online signature that is unique and impactful.
Why Might You Still Want to Use a Wet Ink Signature?
Personal Branding
Wet ink or regular signatures are generally used to create a personal effect that is noticeable and evident. Artists and entrepreneurs usually sign off their creations or works of art using wet signatures. It makes their work instantly recognizable.
Wet signatures can be used to create a positive social and psychological impact as well.
Much Harder to Forge or Replicate
The uniqueness of wet signatures means that they are much harder to forge or replicate than digital signatures. Making a wet signature is a personal gesture. It is tangible evidence that a person has committed to a transaction or agreement. Wet signatures may be challenging to copy or forge. There is an added security when wet signatures are used. Using wet signatures may be better than using digital technology since there have been instances where data has been compromised, and digital signatures have been exposed.
Wet signatures can be verified and authenticated, especially where they have been signed in the presence of other witnesses or signatories. You do not need any additional technology or software to verify wet signatures. You do not need access to the internet and other resources. All you need is a pen and paper.
You’re Exchanging Money
When you are making a bank transaction like taking a loan, the bank will not only insist on your physical presence but will have you sign the loan documentation in the presence of bank officials.
You’re Signing Some Legal Documentation
There are many instances where legal documentation must be signed using wet signatures. Signing business agreements, marriage certificates, wills, and other legal proceedings require wet signatures. The same goes for real estate agreements.
Conclusion
We have looked at the need and importance of both wet and digital signatures. Although there are still instances where wet signatures are needed, there is a strong case for moving towards using digital signatures as they are being more widely accepted worldwide.
