Did you know that today, June 30th is National ESIGN Day? That’s right, a whole day dedicated to celebrating our favorite thing – electronic signatures. This special day was recognized by both Houses of Congress back in 2010, but the reason we celebrate today goes back further than that.
What is National ESIGN Day?
The ESIGN Act was passed by Congress in 2000. When this landmark decision was made, it effectively legalized the use of electronic signatures. The ESIGN Act gives electronic signatures the same legal weight as wet signatures. The Act also permits the introduction of e-signatures in a court of law as evidence and states that the validity, enforceability, and effect of many electronic documents may not be denied.
The established legality of using electronic signatures has had an enormous impact on individuals and with businesses and organizations worldwide. In 2010, June 30th was officially recognized as National ESIGN Day, paying homage to this crucial Act’s passage.
6 Facts About Electronic Signatures
Since the passing of ESIGN 21 years ago, electronic signatures have established themselves as a necessity for getting things done. Whether it’s a realty company finalizing the sale of someone’s first home, a business owner onboarding their newest client, or a charity gathering hundreds of donation forms with just a few clicks, eSigning is an integral part of the day-to-day for people all around the world.
In honor of National ESIGN Day, join us as we take a look at some historical, interesting, and even fun facts about electronic signatures.
You probably eSign more than you realize
Chances are you electronically sign more documents than you realize – especially when you use the internet. Did you know that every time you click to accept new Terms and Conditions on a website that you’re providing a legally binding electronic signature? That’s right! Websites use eSigning processes to complete everything from Terms and Conditions agreements to purchases and more.
When you eSign, you're making a greener choice
According to one university study, there is an estimated 68 million trees each year harvested with the intention of making paper and paper products. When businesses and individuals switch to electronic signatures and documents, it helps reduce waste and negative environmental impacts.
Electronic signatures not only save time, but they save money
For most businesses, time is money. One of the best things about electronic signatures? Using them can literally save you and your business both time and money. According to a Corp! Magazine report, “U.S. businesses waste $8 billion annually just managing paper. It costs an organization an average of $20 to file a document, $120 to find a misplaced document, and $220 to reproduce a lost document.” This is not to mention Forbe’s finding that businesses are averaging 70-80% efficiency improvements by adopting more electronic processes, like eSigning.
Signing documents has been around for a long time
Did you know that the very first signature ever recorded was in 3500 BC? The invention of early signature usage is attributed to the Sumerians with their use of round cylindrical seals.
The ESIGN Act was eSigned
When former President Bill Clinton signed the ESIGN act on June 30th of 2000, he did so by using a smart card that was encrypted with his digital signature.
Prior to ESIGN, there was UETA
Prior to the adoption of ESIGN, the Uniform Electronic Transactions Act (UETA) was established in 1999. The difference between ESIGN and UETA is that ESIGN is federal legislation, whereas the UETA is adopted by states individually. At the time of the UETA’s establishment, all states by 3 adopted the Act into state law.
Special National ESIGN Day Limited Time Offer
Don’t miss out on this limited special offer in celebration of National ESIGN Day! From now until July 14th, new customers can save 15% when signing up for a new Annual Plan with Foxit eSign! Use code ESIGNDAY2021 at checkout.