QED Risk Services had several enquiries recently from brokers about using electronic signatures, in particular DocuSign, for NCCP documents and loan documents*.
The Electronic Transactions Act that was passed in 2000 in Australia, establishes the general rule that no transaction will be invalid simply because it was completed electronically.
However, not all electronic signatures are created equal. Not only is DocuSign one of the only two electronic signature providers that is endorsed by the Commonwealth Bank of Australia, it is also used by prominent companies such as Telstra, Google and Microsoft. If you are thinking of using this service to improve efficiencies for your business and customers, QED Risk Services says "why not!"
*Check with bank for their electronic signature policy