The use of e-signatures in closing commercial loan transactions
By: Quinn C. Wheeler and Khaled Tarazi
“Among the many challenges facing the business world caused by the COVID-19 pandemic is the increased complexity of closing commercial transactions. Of course, the days of all parties gathering around a conference table to execute documents passed long before the advent of COVID-19, but the pandemic further complicated transactions by scattering necessary signatories — who otherwise may have at least been under one roof — to remote work locations with limited access to printed documents. Parties can certainly still close deals with “wet” signatures using overnight courier services, but this renders the closings of complex transactions with numerous signatories (some of whom may not be active in the deal) far less efficient. Consequently, parties to such transactions have increasingly sought guidance regarding the effectiveness of electronic signatures under Arizona law. ”
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