An electronic signature is an electronic process or symbol used by a person to indicate intent to sign a record. Legal validity and appropriate method depend on jurisdiction, document type, identity, consent, integrity, retention, and organizational policy. In procurement, eSignature can support contract execution when the approved process and required evidence are configured.
In plain English
It lets an authorized person sign an eligible agreement electronically under the approved process.
Illustrative example
At Northstar Industrial Systems, an approved services agreement moves to the designated signatories, and the completed signature record is retained with the contract.
- Related terms
- Contract lifecycle management; Contract approval; Audit trail; Identity
- Lifecycle stages
- Approve; Award; Execute
- Stakeholders
- Compliance and Legal; Procurement; Supplier; Approver