Digital signature

What is a digital signature?

A digital signature is a signature made in a digital environment, as opposed to a signature made physically with pen on paper.

Which known digital signature methods exist?

The most common ways to sign include a mouse pointer signature, touchscreen finger signature or using a BankID.

Are there any formal requirements for concluding agreements?

In Europe, we generally have no formal requirements for concluding agreements. This means that oral and written agreements are equally valid. 

If there is a dispute as to whether an agreement has been concluded, the courts will use whichever has more than 50% probability. In practice, this means that it is advisable to confirm an agreement in writing. SMSs, e-mails and chats are used and accepted as evidence that agreements have been concluded by European courts.

How does DealBuilder’s digital signature work?

A contract is drawn up in DealBuilder from the supplier’s side that clearly states who is the customer and supplier, which products and services were ordered, at what price and for which terms. 

The customer receives a link to the contract via the customer’s unique email address via email itself, phone number (by SMS), or both. DealBuilder takes a footprint of the counterparty’s device when the counterparty signs the contract. The footprint is stored on the signed PDF version of the agreement. That is, the customer’s name, email address, telephone number, IP address, date and time of signing, as well as the customer’s user environment upon acceptance. There is plenty of documentation linking the customer to signing the contract.

After signing, both parties receive a signed copy of the agreement via e-mail.

Is a digital signature legally binding?

By using DealBuilder, you can confirm with confidence that an agreement has been concluded and that you are signing a legally binding agreement. 

As explained above, this is done by logging the user’s footprint directly into the agreement document itself. This log data is handled by DealBuilder, which is a trusted third party. 

• Third party: Someone outside the agreement. DealBuilder as an external party can confirm that an agreement has been concluded. Such a confirmation will have even greater probative value than, for example, a normal e-mail.

In addition to being able to document that an agreement has been concluded, DealBuilder can also confirm that the content of the agreement that has been concluded is unchanged. This is done by the system logging the cross sum (hash) on the agreement file (PDF) and taking care of it. If the file has been tampered with, the cross sum will change, revealing any cheating. Correspondingly, DealBuilder will be able to confirm whether the cross sum is unchanged, so that the agreement file (PDF) is unchanged.

DealBuilder can thus document before a court or others that an agreement has been concluded (notoriety) and that the agreement has not been changed (integrity). In this way, the parties to the agreement are guaranteed proof of which agreement has been concluded.

Furthermore, audit trails have also been added to the agreements. This involves further documentation of the steps that have led up to the signing itself. By adding this to the last page of the PDF, we have made it more accessible and independent of DealBuilder. The same applies to the cross sum that is added to the PDF document itself, and is independent of DealBuilder.

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