Electronic Signature Security & Industry Compliance

Overview

The recent update to The Electronic Commerce Act (ECA) at the provincial level and the passage of the Electronic Signatures in Global and National Commerce Act (ESIGN) at the federal level, provide the legal foundation for use of electronic records and electronic signatures in real estate transactions. Such legislation clearly establishes that electronic records and signatures carry the same weight and legal effect as traditional paper documents and handwritten signatures.

Electronic Signature Basics

Signature Progress

For each participant role in a transaction, DealTap manages the total amount of signatures required to complete a document or submit an offer based on a progress bar that measures executed signatures/initials against the total required. This is another step in ensuring accuracy and reliability, as well as preventing omissions and errors when parties are executing important electronic documents.

Change Detection

Unlike the paper process, DealTap creates a new version of the offer every time a Co-Operating Party makes changes. Because all previous versions are kept in history, the new version only requires revised pages to be re-signed without the need for strike-throughs with initials. This allows for a cleaner negotiation preventing the potential for unknown or unidentified alterations of a document.

Remote or In-Person Signing

Don’t change the way you meet your clients with the convienence of signing electronically in person or remotely. You can have your client sign the document in person, or simply share their document with other parties by entering their email address to verifiy their identity and activity. 

Electronic Signature Security & Compliance

Audit Report

Once a transaction is complete, DealTap exports an audit trail that documents all actions performed by all users and participants on the agreement throughout its entire life-cycle. Actions such as opened, saved, notified, edited, signed are all time stamped and analyzed to the same degree as the unique signatures. DealTap ensures that all details of an electronic transaction are captured, recorded and traceable.

Signature Details

DealTap captures and verifies every electronic signature to ensure its authenticity and uniqueness to a certain individual. Each signature is executed independently either via cursive touch or keyboard input. The following details and variables are captured for each and every signature:

This extensive tracking and verification system creates a detailed audit trail of all signatory actions throughout the document process and ensures each signature can be linked to a specific individual.

Signature Audit

The audit report also contains a “signature audit” that captures the stamps for each participant. The signature audit will capture the different signatures used when resigning a document. The audit report will capture information such as IP address, device, browser, etc. The Audit Report can be exported into a package that contains a table of contents, audit trail, signature audit, and complete copies of all offers and counter offers during the negotiation process.

Roles, Users & Permissions Explained

Signing Roles

In signature mode, DealTap highlights all areas required for signature and initials specific to each participant of a transaction. By identifying participants by their roles (ex. buyer, seller, spouse, agent etc.), DealTap automatically manages signatures throughout the documents and agreements specific to that role, thereby eliminating the potential for error.

IP Source Tracking

Each electronic signature or initial will record the IP address of the device used to execute the agreement or document. By doing so, users will have complete transparency as to where each and every signature and initial took place.

Permitted Access

Each DealTap account holder must be a registered Realtor in good standing with their respective Real Estate Board. Account holders are able to provide access to users whom they wish to collaborate with on a transaction within DealTap. The users can be buyers/sellers/spouses/agents/legal counsel etc. All parties have the ability to retain and store copies of documents via PDF export for record keeping purposes at any time. 

Where Are My Files Stored?

Canada Hosted

Have peace of mind knowing that all your documents and sensitive information is stored, backed up and encrypted in a secure, bank-grade data storage facilities in Canada.

SOC 2 Compliance

Your data is securely stored and managed to protect your privacy and information. Each signed document is stored on servers in Canada in the strict accordance with Canadian Real Estate & Privacy Laws.

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