E-Sign

Question 1

What does E-Sign mean?

Answer 1

Electronic Signatures in Global and National Commerce Act

(AKA E-Sign Act)

Question 2

Purpose of E-Sign?

Answer 2

Governs the circumstances under which electronic signatures may be accepted on certain disclosures and documents

Question 3

E-Sign requirements

Answer 3

• The consumer must
  
  • Affirmatively consent to electronic delivery and may not have withdrawn the consent
  • Be provided with a statement informing them of the right to have the information in paper form, to what transaction(s) the consent applies, and the right to withdraw the consent
  • Be provided with information on how to withdraw the consent
  • Be provided with information on how to obtain paper copies, and
  • Prior to consent, be provided with information regarding the hardware and software requirements for access to electronic records
• The consent process must reasonably demonstrate consumer’s ability to access the information