Signature legislation changes on European horizon

Opinion

Signature legislation changes on European horizon

We're a long way from wax seals and a simple 'x' on a piece of paper to prove authenticity of a document. Even so, the European Union is planning to change the E-Signatures Directive this year so that businesses will be encouraged to use electronic invoicing more.

The change will harmonise what is a non-standard process throughout Europe as apparently member states legal requirements and provisions on e-signatures all differ quite widely. The process of harmonisation will hopefully be a step towards a global standard that can be adopted by big business, SMEs and consumers alike.
 
The EU reckons that a move to widespread electronic invoicing will save around €240bn over six years through faster transactions, shorter payment delays and reduced postage, printing and paper costs.

This was first published in January 2011

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