The Law Society have released a practice note on e-signatures for contracts.
The society say solicitors will be able to make greater and more confident use of technology in their day-to-day work following the release of the practice note on the use of e-signatures for commercial contracts.
The note sets out the relevant law around the use of e-signatures on commercial contracts, and addresses issues around their use.
Law Society President Robert Bourns said: “Commercial contracts drafted by solicitors operate in every aspect of our economy, and can govern deals worth millions, or even billions, of pounds,”
“There is no room for error when so much is at stake, therefore it is vital that solicitors can have confidence in the legal framework surrounding such innovations.
“This practice note will provide them with greater certainty when using electronic signatures on commercial contracts.
“Solicitors are eager to take up any opportunity to innovate, and this practice note will help guide them in making ever-increasing use of this small but significant improvement.”
The practice note has been developed by a joint working party from the Law Society, the City of London Law Society and leading City law firms, and reviewed and approved by Leading Counsel Mark Hapgood QC.
Law Society Company Law Committee chairperson Elizabeth Wall said: “Although e-signatures have been in use for some time, there has been no consensus among the legal industry on their validity. This practice note will help the industry get comfortable with electronic signatures and embrace the practical benefits of e-signing.”
