[zack2]

I see a lot of ISOs use DocuSign for applications. Can we just have a simple "By clicking this checkbox, you have agreed to Terms and Conditions etc"? Is DocuSign just a way to look professional and the signing compliance is not as important?

Obviously before funding an app, a funder may want a legally stronger signature, so they would use DocuSign, but I'm talking about just filling out the application forms.

[Davincinc]

I see a lot of ISOs use DocuSign for applications. Can we just have a simple "By clicking this checkbox, you have agreed to Terms and Conditions etc"? Is DocuSign just a way to look professional and the signing compliance is not as important?

Obviously before funding an app, a funder may want a legally stronger signature, so they would use DocuSign, but I'm talking about just filling out the application forms.

docusign is time stamped, data trail of original signer, can be confirmed if fakeed or alt. with the signature serial number below signature, it is essentially a check box if sender pre fills info with a real person info, its ip and email sensitive. By sending via email services on the premium packages also allow you to confirmed and gather KYC on client.

cheers

[WestCoastFunding]

I see a lot of ISOs use DocuSign for applications. Can we just have a simple "By clicking this checkbox, you have agreed to Terms and Conditions etc"? Is DocuSign just a way to look professional and the signing compliance is not as important?

Obviously before funding an app, a funder may want a legally stronger signature, so they would use DocuSign, but I'm talking about just filling out the application forms.

Davininc said it well. Remember, the point of having the signature on the application is to provide consent to allow credit to be run. If you just had a box that someone clicked, brokers would be fraudently having merchants credit run left and right. By using an e-sign service (DocuSign, Adobe-sign, etc..) you are showing proof that someone else consented (through ip capture, email paths, etc).

[DTFdowntofund]

Docusign comes with a summary with the IP and other relevant information to prove validity. It's the best way to go imo. Having merchants print, complete, scan send is a thing of the past. If we have the technology to make the process more efficient why not utilize it?

[DTFdowntofund]

Davininc said it well. Remember, the point of having the signature on the application is to provide consent to allow credit to be run. If you just had a box that someone clicked, brokers would be fraudently having merchants credit run left and right. By using an e-sign service (DocuSign, Adobe-sign, etc..) you are showing proof that someone else consented (through ip capture, email paths, etc).

What he said. It's to validate the credit pull. There was an instance about 4 years ago that we pulled through Experian and the merch did not sign the app (I'm assuming the broker did) and we almost got sued. It's no joke, there are legal ramifications for fraduantly signing apps and docusign is a good way to fail safe against it.

[abfunders]

Just a question for everyone while on the topic - Why to use Docusign vs Hellosign vs RightSignature?

I found and very much like DigiSigner.com which is $15/mo/seat or $120/year/seat and the 5th seat is free. Unlimited sends and signatures.... I can even create my own PDFs with LibreOffice and upload them and it keeps the fields. Unlimited templates for emails to send, and some other nice features.

I just haven't tried anything else, but it's been really nice for me. Why are the advantages of Docusign?

[WestCoastFunding]

Just a question for everyone while on the topic - Why to use Docusign vs Hellosign vs RightSignature?

I found and very much like DigiSigner.com which is $15/mo/seat or $120/year/seat and the 5th seat is free. Unlimited sends and signatures.... I can even create my own PDFs with LibreOffice and upload them and it keeps the fields. Unlimited templates for emails to send, and some other nice features.

I just haven't tried anything else, but it's been really nice for me. Why are the advantages of Docusign?

Analytics and API. The there’s also the trust factor because nearly all merchants are either use or are familiar with DocuSign and Adobe. But, these will cost you $2-3K annually if you do real volume. They have a monthly business plan for like $20 a month, but the fine print says they only allow 100 envelopes a year.

[zack2]

Thanks all for the replies.

@WestCoastFunding - The API is exactly what we were looking into, but as you mentioned, the costs can add up really quickly. For example, we spoke to DocuSign, and they were quoting prices as high as $4/envelope and with massive volume, $3. That is crazy if you expect to have even minimal volume. Do you use it on all applications, or only a select few? And is this simply a high price, and there are less expensive options?

[WhoisKingsley]

All of the answers above.

That is why you can't be CC'd on contracts etc. The application and contracts signatures are specific to the email, IP, and User to authenticate.

Plus - so many authorizations are WRONG and they dont know what they are signing anyways. It doesn't matter if they stamp it with their big toe the funders still going to take it.

[Michael I]

is there a cheaper options for apps that funders accept ?

[WhoisKingsley]

is there a cheaper options for apps that funders accept ?

Paper.

Cheaper doesn't mean it will be accepted. The second sheet that comes with the docusign or electronic signature is imperative when submitting and some funders will ONLY take them with proof of where it came from, where it went to, and how it was submitted back. Some Funders dont accept them still even though it is 100% LEGAL to sign a document with an electronic signature vs. wet signature

Docusigns website " The ESIGN Act is a federal law passed in 2000. It grants legal recognition to electronic signatures and records if all parties to a contract choose to use electronic documents and to sign them electronically. ... No contract, signature, or record shall be denied legal effect solely because it is in electronic form."

Some Funders will ONLY accept wet signatures. The only thing is that many DO NOT check the signatures against the DL. There are MANY FAKE signatures out there and I've seen many different apps from the same merchant with different signatures.

If you want to be cheap and still get the job done - make a fillable PDF app and stick to the print and sign method.

I also hope soon that EMAIL is completely omitted as a way to submit an application package to a funder/lender. There are so many technological ways we are not advancing in yet we call ourselves FinTech.

[WestCoastFunding]

There are so many technological ways we are not advancing in yet we call ourselves FinTech.

*Cough**Mantis**Cough**

Hey, Marcus.

[thefundingdiaries]

I still use Efax. I'm old fashioned I guess.

[harvey]

DocuSign is just another way for isos to be lazy don't let them fool you - is it efficient yes but its just another way for the iso to pushback on funders while doing less work for same pay

[Big Mack]

I still use Efax. I'm old fashioned I guess.

I prefer pneumatic tubes. Extremely underutilized these days.

[DTFdowntofund]

DocuSign is just another way for isos to be lazy don't let them fool you - is it efficient yes but its just another way for the iso to pushback on funders while doing less work for same pay

What does that even mean

[swiftcloser]

.....

[thefundingdiaries]

so what is everyone using to get back statements? i'm don't hardly ever come on here to see what's happening. i just checked out DS for the first time and i'm going to start using it.

[WestCoastFunding]

Let’s see:

1) you can send a PDF app, have the merchant fill it out. Print it. Sign it. Scan it and send back to you.

-or-

2) they can complete the app in 2 mins on their cell phone.

[thefundingdiaries]

Mannnnn I was missing out. Docusign is a MUST. Today was my 1st day using it and I'll NEVERRRRRR go back to faxing/email. Sending and receiving apps was such a breeze. Damn, I'm gonna start posting up at DF more often now.

Thanks for the info!

[WestCoastFunding]

Mannnnn I was missing out. Docusign is a MUST. Today was my 1st day using it and I'll NEVERRRRRR go back to faxing/email. Sending and receiving apps was such a breeze. Damn, I'm gonna start posting up at DF more often now.

Thanks for the info!

Shhhhh. Don’t put them onto it. This is our advantage.