Electronic Contract Guidelines: Who Qualifies and What You Get
Learn how electronic contracts provide legal validity for remote property transactions and what you need to stay compliant.
These guidelines establish the legal framework for using digital signatures and electronic files to finalize agreements. They are designed to make digital-only transactions as legally binding as traditional paper documents.
Who it's for
This is intended for agencies and businesses that are moving their workflows to digital-only contracts.
What you get
You receive legal validity for transactions conducted fully remotely. This allows for property deals to be completed without all parties needing to meet in person to sign physical papers.
What it costs you
To use this system, you must invest in compliant digital signature software. You will need to ensure the tools you use meet the specific legal standards required for digital agreements.
The catch to know
Even with these guidelines, digital-only is not always possible. In certain specific cases, you will still be required to physically deliver paper documents.
How to apply
- Research the specific digital signature software that meets legal requirements.
- Transition your agency's workflow to a digital-only model.
- Verify if your specific transaction type requires any physical paperwork.
- Consult the official guidance from the Ministry of Economy, Trade and Industry.