WHAT IS A WET SIGNATURE

1. WHAT IS A WET SIGNATURE Wet signatures have been the standard for quite a long time. In any case, as the world goes computerized, depending entirely on "wet signatures" can cost organizations delays and inflated costs. Assuming you're investing an excess of energy sitting tight for finished agreements or marked records, now is the right time to change to electronic signatures or esignatures. The esignatures market is developing dramatically determined by rising client assumptions for advanced communication and expanded consciousness of lawful acknowledgment of esignatures. Research projects the worldwide digital signature market size to develop to $14.1 billion by 2026, from $2.8 billion of every 2020. What Are Wet Signatures? For the uninitiated, let’s talk about what exactly “wet signatures” are first. Every time you put pen to paper to sign a document, you’re using a wet signature. The term comes from the phrase “waiting for the ink” to dry on the paper. That’s how signatures were taken centuries earlier. But they don’t necessarily have to be a signed name. Wet signatures can include a person’s initials, an “X” mark, a stamped symbol, an inked thumbprint, or some other physical form of signature. Some cultures would also use symbols or seals to “seal” the deals! Why Are Wet Signatures Losing Their Popularity? There are several reasons why businesses are switching from wet signatures to eSignatures. •Long lead times: Obtaining wet signatures can take days or weeks because of all the printing, mailing, scanning, and posting of documents. •Higher costs: There are several direct costs involved in collecting signatures, including paper, ink, and postage. •Increased risks: Failing to secure paper documents can lead to loss or misuse of confidential information. •Eco-friendly: Being digital, they are more eco-friendly compared to wet signatures. •Security: Paper documents can get lost; eSignatures with encryption capabilities are more secure. •Centralized documents: eSignatures considerably reduce the time spent in retrieving a document by offering integrations with different platforms, making it a simple click and search. For more information: https://rsign.com/learn/what-is-wet-signature