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Covid-19 Coronavirus: What you need to know about virtual and electronic signing

Posted by Fiona Luong on Mar 30, 2020 4:36:15 PM

By Fiona Luong and Rajan Dhami

In these uncertain times, trade finance and other transaction parties may face particular logistical challenges when signing documents in person. One option available to the transaction parties is to sign documents "virtually" (in other words, signing a hard copy of a document and sending a scan of the signature page to the other side). This method of signing will be familiar to most people who have entered into transactional documents with an international counterparty. Certain formalities must be observed for virtual signings in light of the Mercury case (discussed further below).

Parties are also increasingly turning to the possibility of utilising electronic platforms for signing documents, called "e-signing" or "electronic signing".

But can electronic signing be a valid form of signing an agreement? We look in detail at the options available to those signing agreements under English law.

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Topics: electronic signatures, COVID-19, virtual signing

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About the Blog


Talking Trade Finance is here to provide you with all of the latest updates in the Trade & Export Finance Industry.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.

Meet the Editor


Portrait of Geoffrey Wynne

Geoffrey Wynne is head of Sullivan’s Trade & Export Finance Group and the firm's London office.

He has extensive experience in banking and finance, specifically in corporate and international finance, trade, structured trade and commodity finance, electronic banking and digitizing trade finance, structured finance, asset and project finance, syndicated lending, equipment leasing, workouts and financing restructuring and general commercial matters.

Recognised as one of the leading trade finance lawyers globally, Geoff advises many of the major trade finance banks and financial institutions around the world on trade and commodity transactions in virtually every emerging market including in the CIS, Asia, India, Africa and Latin America. He has worked on many structured trade transactions covering such diverse commodities as oil, nickel, steel, tobacco, cocoa and coffee.

 

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