Do you know what you can use a digital contract for? Managing a business involves writing, printing and signing contracts; in addition to renewing them every time there is a change. If your business handles different types of documents that need to be approved, either by you or other professionals, the waiting time can be days, hours or even weeks.
In this context, we explain you what a digital contract is, what benefits it offers and how you can implement it in your company with Viafirma.
What is a digital contract?
Generally speaking, it is an electronic version of the physical contracts that have been the standard for operations and revenue generation. Such a document must also comply with current regulations.
It is created and signed in electronic format, without using paper. An example is a contract drawn up on your device that you send by mail to a business partner or customer and they validate it with their electronic signature.
4 main benefits compared to traditional
Here are the main advantages of the electronic contract:
- Contracts can be signed electronically regardless of the location of the person who needs to sign them
- The information contained in the electronic contract is kept integral. Once signed and approved electronically, the document cannot be altered and any modification will be detectable.
- Eliminate all travel and printing costs and contribute to a more sustainable environment.
- The possibility of storing them digitally makes them easily accessible from anywhere
Digital contract legal validity
Law 34/2002, of July 11, 2002, on Information Society Services and Electronic Commerce (the Internet Law) regulates this type of transactions. Thus, article 23 of this law stipulates the following:
”Contracts entered into by electronic means shall produce all the effects provided for by the legal system, when the consent and other requirements necessary for their validity are met.”
Therefore, if there is consent of the parties, there will be no legal impediment for it to be concluded online.
Boost your business with Viafirma
Nowadays, customers and end users have become accustomed to intuitive and easy digital solutions to complete online processes. Fortunately, e-signature tools such as Viafirma’s make it possible to sign and send electronic contracts from any device and any location.
These types of enterprise tools are essential for organizations to execute new contracts and drive business activity. It significantly reduces the time it takes to execute contracts by eliminating the process of physically sending contracts from one location to another to be signed in person.