Signatures play a crucial role in validating agreements. They show that you agree to the terms of a contract. Wet ink signatures are the traditional way of signing documents. You use a pen to sign your name on paper.

But times have changed. Now, signatures have evolved from wet ink to electronic formats.

What is a wet ink signature?

A wet ink signature is a handwritten signature on a physical document using a pen or other writing instrument. The term "wet ink" refers to the traditional method of signing, where the ink is physically applied to the paper and takes a moment to dry, indicating a real-time action of signing.

A wet ink signature involves manually writing your name or a distinctive mark on a document. This type of signature is unique to each individual and serves as a personal identifier. It signifies that the signer agrees to the terms and conditions outlined in the document and has personally authenticated it.

Wet ink signatures have a long history, dating back to ancient times when people used seals, stamps, and marks to signify their agreement or identity on documents. The tradition of signing documents in ink became widespread with the invention of the pen and the increased use of paper.

Historically, wet ink signatures have been important for several reasons:

• Personalization: Each signature is unique to the individual, making it difficult to replicate
• Legal authenticity: Wet ink signatures have been a standard method of authenticating documents for legal purposes
• Cultural significance: Signing documents in person has been a ritualized act, emphasizing the importance and solemnity of the agreement

Also read: Contract Signing Unveiled: A Step-By-Step Guide

Common scenarios where wet ink signatures are used

Businesses often rely on wet ink signatures for certain important documents. Here are some common scenarios where you might need them:

1. High-value contracts

For deals involving large sums of money, wet ink signatures provide an extra layer of security.

2. Legal documents

Some legal documents require wet ink signatures to be legally binding. This includes wills, trusts, and certain contracts.

3. Real estate transactions

Real estate deals often require wet ink signatures to meet regulatory standards and ensure authenticity.

4. International agreements

When dealing with international partners, wet ink signatures can help navigate varying legal requirements.

5. Confidential agreements

Wet ink signatures can be used to enhance the security of confidential agreements, ensuring the authenticity of the signer.

Limitations of Wet Ink signatures

Wet ink signatures, while essential in certain scenarios, have several drawbacks. Here’s a breakdown of their main disadvantages for in-house legal teams:

#1 Inconvenience and time consumption

• Need for physical presence:You have to be there in person to sign a document. This can be a pain, especially if your team is spread out or working remotely
• Delays in processing and approval: Waiting for physical documents to be signed and sent back can really slow things down
• Environmental impact: All that paper and travel isn't great for the planet

#2 Security concerns

• Risk of forgery and fraud: Wet ink signatures can be faked, which can lead to big problems
• Difficulty in verifying authenticity: It’s tough to be sure a signature is genuine without extra checks

#3 Cost implications

• Printing, mailing, and storage expenses: All those physical documents cost money to print, mail, and store
• Geographic limitations: It’s tricky to manage global business when you need physical signatures

#4 Risk of document loss or damage

• Vulnerability to physical deterioration: Paper documents can get damaged or lost over time
• Issues with long-term storage and archiving: Keeping tons of paper documents safe and organized is a real challenge

#5 Accessibility issues

• Difficulties for individuals with disabilities: Not everyone can easily sign a physical document
• Limited access in remote or underserved areas: Some folks don’t have easy access to printers or postal services

Why wet ink signatures are a thing of the past

The global eSignature market is booming, expected to grow over $14 billion by 2026.

eSignatures are changing how you handle documents. They are faster, more secure, and more convenient than wet ink signatures. Here's why they are the better choice.

Think of eSignatures as the digital way to sign documents. You can do it from anywhere, anytime, without needing to print, scan, or mail anything. They save you time and cut down on the hassle of dealing with physical paperwork.

By using eSignatures, you can make workflows smoother and improve efficiency. They are legally recognized and just as valid as traditional signatures in many countries. Plus, eSignatures use advanced encryption and authentication to keep your documents safe.

Businesses across various industries are jumping on the eSignature bandwagon.

Also read: A Quick Introduction to eSignatures

Benefits of eSignatures

#1 Convenience

Whether you're relaxing at home or out and about, eSignatures have got you covered! Sign documents instantly from your phone, tablet, or laptop without the hassle of rushing back to the office or hunting for a printer. This flexibility keeps you productive and responsive wherever you are. It's like carrying your entire office in your pocket!

#2 Speed

Traditional methods of signing documents—printing, mailing, and waiting—can take days. eSignatures cut this time down to minutes. eSignatures significantly reduce document turnaround times, enabling faster completion of legal transactions​.​ This means you can finalize deals, approve contracts, and move on to the next task without unnecessary delays, keeping your workflow smooth and efficient.

Also read: Powering Contract Efficiency Through eSigning

#3 Security

Security is a top concern for legal documents, and eSignatures have you covered. They use advanced encryption to protect your documents and verify signatures. This technology ensures that your documents are safe from tampering and that the signatures are authentic.

#4 Cost savings

U.S. businesses waste approximately $8 billion annually on managing paper.

Think about all the costs associated with printing, mailing, and storing paper documents. These expenses can add up quickly. By switching to eSignatures, you eliminate these costs. This means more money in your budget for other important projects and initiatives.

#5 Environmental impact

Going green is more important than ever, and eSignatures help you do just that. By reducing paper use, you're cutting costs and are also helping the environment. Adopting paperless practices can save hundreds of trees each year, significantly lowering your carbon footprint​​. This commitment to sustainability is not only good for the planet but also enhances your company's reputation.

#6 Enhanced client experience

Clients expect quick and efficient service. With eSignatures, you can deliver documents for signing instantly, improving communication and reducing wait times. This seamless process enhances client satisfaction and strengthens your professional relationships. Clients appreciate the convenience and speed, which reflects positively on your firm​.

#7 Scalability and flexibility

As your business grows, so does the volume of documents needing signatures. eSignatures scale with your needs, allowing you to handle increased workloads without additional stress. Whether you're managing a few contracts or thousands, eSignature solutions provide the flexibility to adapt to your growing demands​.

Also read: Types Of Electronic Signatures And Which To Use

Are wet ink signatures more secure than e-signatures?

This is a common question, and it's essential to understand that both wet ink signatures and e-signatures have their own security features and potential vulnerabilities. Let's break it down:

Wet Ink signatures

Security features:

• Tangible evidence: Wet ink signatures provide a physical proof of agreement, which can be harder to dispute because of the effort involved in forgery
• Historical precedent: They have been used for centuries and are widely recognized and accepted

Vulnerabilities:

• Forgery: Easily forged with modern tools
• Verification: Requires experts to verify, which is time-consuming and costly
• Physical Risks: Can be lost, stolen, or damaged

e-Signatures

Security features:

• Encryption: e-Signatures use advanced encryption to protect documents and verify the authenticity of signatures. This makes it very difficult for unauthorized parties to tamper with the document
• Audit Trails: Many e-signature platforms provide detailed audit trails, showing when and where a document was signed, as well as the IP addresses of the signers. This adds an extra layer of security and accountability​​
• Two-Factor Authentication: Some e-signature platforms offer two-factor authentication, ensuring that only the intended signer can access and sign the document
• Regulatory Compliance: e-Signatures can comply with various legal standards, such as the eIDAS regulation in the EU and the ESIGN Act in the US, which provide legal frameworks for their use​​

Vulnerabilities:

• Phishing attacks: Like all digital processes, e-signatures can be susceptible to phishing attacks if users are not cautious
• Technical dependence: e-Signatures depend on technology and the internet, which could be a limitation in areas with poor connectivity or during technical failures

Both wet ink signatures and e-signatures have their strengths and weaknesses. e-Signatures generally offer stronger security features, such as encryption and audit trails, which make them more secure in many ways compared to wet ink signatures. However, the security of either method depends largely on how they are implemented and used.

For most modern legal and business practices, e-signatures provide a secure, efficient, and legally recognized alternative to wet ink signatures. If you're considering making the switch, platforms like SpotDraft offer robust e-signature solutions that ensure your documents are secure and compliant.

Also read: Are Electronic Signatures Legal?

SpotDraft's eSignature solutions

SpotDraft offers top-notch eSignature solutions to simplify your document management:

• Unlimited eSignatures: Sign as many documents as you need without limits
• User-friendly interface: Easy to use with powerful features to boost your workflow

Also read: SpotDraft-Docusign Integration: Robust eSignature tool meets World Class CLM

Why choose SpotDraft’s eSignatures?

SpotDraft’s eSignature solutions are designed to make your life easier. Here’s how they help:

• Authentication: SpotDraft simplifies authenticating the identity of signers. Whenever an eSignature request is made, the recipient's email ID is registered, and a unique URL for the contract is generated. These details, along with the IP address and timestamp, are then recorded in the audit trail
• Intention: To demonstrate intent and consent, SpotDraft requires parties to agree to customized terms before signing the contract. We also offer an option to opt-out of the process, ensuring full consent
• Audit trail: To maintain transparency, SpotDraft includes an extra page at the end of the contract that details every step of the signing process. Additionally, copies of the contract are automatically delivered to all parties. To prevent tampering, SpotDraft employs end-to-end encryption using approved cryptographic algorithms

Meet VerifAI: Your AI-powered document checker

VerifAI is SpotDraft's advanced AI-powered tool for document verification and authentication.

What is VerifAI and why do you need it?

VerifAI is designed to ensure the accuracy and authenticity of your documents. It provides AI-driven insights and reduces the risk of errors, making your document processes more reliable and efficient.

How it works and integrates with SpotDraft

VerifAI seamlessly integrates with SpotDraft, enhancing its eSignature capabilities. Here’s how it helps:

• Enhanced document verification and authentication: VerifAI ensures that every document you sign is accurate and authentic. This gives you peace of mind knowing that your documents are genuine
• AI-driven insights: VerifAI provides valuable insights into your documents. It can identify trends, potential issues, and areas for improvement. This helps you make better-informed decisions
• Increased accuracy and reduced risk of errors: VerifAI minimizes the chances of errors in your documents. This ensures that your documents are always correct and reliable, reducing legal risks and improving overall efficiency

Moving away from wet ink signatures

Wet ink signatures have served us well for centuries, but the digital age calls for something faster and more efficient. Electronic signatures (eSignatures) have revolutionized how we handle agreements. eSignatures offer unmatched convenience, speed, and security, making them the go-to choice for modern businesses. No more waiting for physical signatures; eSignatures cut down turnaround times and eliminate costs tied to paper, printing, and mailing.

SpotDraft is at the forefront of this transformation, delivering seamless eSignature solutions that simplify workflows and enhance document management. The integration with VerifAI adds even more value, providing AI-driven document verification and insights to ensure accuracy and reduce errors.

For more details and to see how VerifAI can enhance your document management, visit SpotDraft's VerifAI page.