Facilitating Electronic Exchanges of Contracts and Signed Documents
I have always wanted to tell people that I got my first job by exceeding expectations. I also learned about taking the first job in business which you want to venture in to. Regardless of the role, you get your foot in the door. I did not ask myself where I wanted to be when I began it, but most importantly what I wanted to learn from it. So I viewed my first job facilitating electronic exchanges of contracts and signed documents opportunity as a sponge.
The clients and the conveyancers at Convey Law signed contracts for both the purchase and sale element of the transaction using Bonafide e-signature facility. The following is what the Bonafide e-signature would do;
- The Bonafide system would help lawyers in uploading of the agreed contract to the system, which would then be sent to the purchaser or the seller clients allowing them to sign electronically.
- The system would then confirm that the document was well read and signed, a code took the place of the signature
- After being armed with the two parts of the contract and acting on the two sides of the transaction, the Convey Law Conveyancers would then under Law Society Formula B exchange contracts.
In the system, Conveyancers would be provided with an excellent facility, allowing for uploading of an agreed contract form which would then be easily signed using an electronic signature by the purchaser and the seller. Contact terms which were agreeing would then be often undertaken by Conveyancers over the telephone. In many instances, the document received from the Conveyancer on the other side of the transaction would look different from the one sent out.
The Bonafide system would allow the uploading of an agreed form which would be sent to the clients for signing. The electronic signature would confirm the identity of the client by proving that they are who they claim to be. Verification of identity is a vital prefix procedure.
Satisfaction is always a big part of any job and the contentment that comes with having worked and helped people is what gives one the strength and grind to keep working well; this was a very significant step in e-conveyancing and was delighted to have been a part of the initiative in revolutionizing the Conveyance process.
Our clients were by far much happier in dealing and handling documents and electronically signing them, a new procedure that they had not come across in the past. The future of this step was also promising, as more conveyers would enter into terms with their clients about the use of this technology.
As a team, we were delighted that conveyancers were applying award-winning innovative technology in speeding up the process of house buying and reducing the threat of fraud and identity theft. Comments from the clients that this paperless procedure saved money and time, and added compliance and rigor with an audit trail recording actions undertaken over the process of signing made us happier.
It was therefore not difficult to exchange contracts using electronic signatures since witnesses were not a requirement in the process of conveyance. It is therefore easy to see how these e-signatures are replacing the deeds needs, which require witnessing by someone else, as soon as the accurate verification and identify proof balances and checks are dealt with.
I always feel that my first job was as fulfilling as I hoped, and I am glad that it drew me into who I am today. IT is just my thing, and it made me feel familiar with the sector and culture of information technology.