1. What are eSignatures?
eSignatures is an online service that allows clients to accept loan terms electronically without the need for a physical signature on the contract.
2. Who can use eSignatures?
Anyone can use e-signatures as long as they have internet access.
3. Who can use eSignatures to accept the terms?
The same criteria apply whether it is a signature on a physical loan contract or an eSignature. If this is the first time the client has funded with Elantis Premium Funding we require a signature from one of the following:
Proprietary limited company - the Director, CEO, GM, CFO or Company Secretary
Sole proprietor - the owner
Partnership - one of the partners in the partnership.
4. What are the advantages of eSignatures?
No physical signature is required, so there is no need for the broker to forward the contract to the client for signature or to Elantis Premium Funding once signed. It’s quick and simple to use and confirmation of acceptance is immediate. This means less time waiting for acknowledgment of approval.
5. Is an eSignature as legally binding as a physical signature?
Yes, it is the same.
6. As a broker do I need to do anything different?
No. The quote will be processed as normal and the documents can then be either printed or emailed to the client as usual.
7. Are eSignatures secure?
Yes. The client will be directed to our secured site and issued a unique login and password that can only be submitted once.
8. Are eSignatures easy to use?
Yes. The details entered in the quote will be automatically populated in the eSignatures document so the client only needs to add their payment details and any other missing information.
9. Do I still need to get the contract signed?
No. Once the client submits the loan online there is no need to get any signed documentation.
10. Will I receive confirmation that the loan has been submitted?
Yes. You will continue to receive our standard welcome letter once the loan has been approved. You will also be able to view the status of the quote/loan in Select.
11. Will the client receive confirmation?
Yes. The client will receive an email confirmation once the loan has been submitted and will also receive a welcome letter once the loan is approved.
12. What payment methods are available to the client?
The client can select to pay by credit card or direct debit.
13. Do I have to use eSignatures?
No. eSignatures is an alternative way of submitting a loan; you can still continue to submit loans via email, post or using the auto renewal function in Select.
14. What about renewal clients?
Clients can use the eSignatures process for renewals, but an easier alternative would be for the broker to submit the renewal automatically online using the Select quoting system.