In this communication, we take a deeper dive into a valuable feature in GCPay that you may not yet be aware of, but could benefit from using!
How Digital Signatures Can Save You Time Collecting and Managing Documents
Often, the lien waiver is the last outstanding item to complete subcontractor payment. Getting a signed waiver is often a long process with a lot of back-and-forth communication for general contractors. Electronic or “digital” signatures are an easy way to get a returned, signed waiver or another required document. According to Levelset, “the validity of electronic signatures for all manner of documents is straightforward. United States’ law is clear in the acceptance of electronic signatures as signatures as valid as “pen and ink” signatures".
Both the Electronic Signatures in Global and International Commerce Act (the “E-Sign Act”) and The Uniform Electronic Transactions Act (UETA) specifically hold that electronic signatures are as valid as pen and ink signatures.
The E-Sign Act was made law in 2000 to advance e-commerce and made e-signatures equally valid as handwritten signatures in commercial transactions.” To learn more about the legality of electronic signatures, notarization, and other state requirements, click the button below.
Simplifying the creation and collection of documents such lien waivers, affidavits, and sworn statements with subcontractors is one of the most popular reasons customers use GCPay. GCPay allows general contractors to create, send, and receive these important documents easier than ever by allowing subcontractors to digitally sign right in the GCPay software. “When collecting wet signatures, companies rely on delivery services, couriers, business days, and holiday schedules leading to slower processing. Electronic signatures cut the time it takes to complete a transaction by an average of nine days. Electronic papers can be received, examined, signed, and returned on almost any device, 24 hours a day, seven days a week.” For more data on time savings with digital signatures, read the latest blog by DottedSign below.
To make the process even more convenient, GCPay allows digital signatures for documents in three different ways: the Overview screen, the Lien Waivers tab, and the main Dashboard screen. To review the process for digitally signing a lien waiver or document, click below.
In order to ensure all documents collected are protected and secured, always enable two-factor authentication (2FA) for all users within your GCPay account and encourage your subcontractors to do the same.
For more information on the benefits of digital signatures, click on the short video below.
