Against the backdrop of COVID-19, social distancing is encouraged, and physical gatherings are being minimized. However, business have kept going - documents have to get executed and meetings have to be held. Working from home has become a common arrangement. The article summarizes what you need to know in order to keep the business running amid COVID-19 given the new norms of adopting virtual execution of documents, conducting virtual meetings. and allowing employees to work form home.
I. Virtual Execution of Documents
Generally speaking, subject to exceptions and certain requirements, documents may be executed with electronic and digital signatures.
1. Types of Signatures
(i) Electronic Signature: An electronic signature needs not take any specific format, and can take the form of an acknowledging agreement via email or a Jpeg image attached to the document.
(ii) Digital Signature: A signature associated with the signatory supported by a valid certificate issued by a recognized certification authority. Where the transaction involves a government entity, if virtual signature is to be used, it must take the form of digital signature.
2. Requirements of a Valid Electronic Signature
