Digital Transaction Management (DTM) has emerged as a new category of cloud services designed to digitally manage document-based transactions. It works together with eSigning to enable faster, easier, more convenient and secure processes. We’ve decided to introduce this software within our business to enhance security around key documents and speed up the communication process when signing ASIC annual reviews and annual financial statements.
What is electronic signing?
An electronic signature is any method which applies a ‘signature’ to an electronic message. This may range from the typed name of the sender to an image of the handwritten signature of the sender.
How does it work?
Tamim Asset Management will utilise a DTM platform to prepare, execute and manage document signing in an all digital environment. Put simply, the process works as follows:
Why move to electronic signing?
We believe a move to electronic signing will benefit you by:
• Eliminating the risks involved with posting hard copy
documents to you – such as mail being delivered to an old or incorrect address, or mail being lost in transit;
• Speeding up the time involved to get documents to you and back to us;
• Enabling you to download or save electronic copies of documents rather than holding onto paper copies;
• Making it quicker and easier to execute documents when required.
Is electronic signing legal in Australia?
Electronic signing has been legal in Australia for over
Australia’s Electronic Transactions Act (1999) defines a
regulatory framework for electronic transactions and states:
‘Documents signed online with legally compliant e-signature software are as valid and binding as traditional pen-and paper documents’.
Electronic signing is an acceptable use of sign off where:
1. a method is used to identify the person and to indicate the person’s approval of the contents;
2. the method used is as reliable as is appropriate for the purposes of the communication;
3. the person who requires the signature has consented to the use of the method.
How can you verify who is signing a document?
We will utilise your personal email address to send documents to you for signing.
Once executed, our DTM software provides us with a court admissible, digitally signed and tamper sealed Certificate of Completion which contains a comprehensive digital audit trail including:
•Signer IP addresses
•Chain of custody (ie: sent, viewed, signed, etc.)
•Geolocation capture of signer (if provided)
If you have any further questions, or wish to discuss the process in more detail, please contact your Client Manager.
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