In addition, they must be registered in the land registry and the land registry does not currently accept electronic signatures. These and other issues that were once considered contentious have since been resolved with the adoption of the Singapore Electronic Transaction Act (ETA) in 1998. Governments around the world have recognized that their economies must be prepared for the use of different technologies in different sectors, and Singapore has not been left behind in this case. Indeed, with the adoption of ETA in 1998, Singapore is considered one of the first countries in the world to adopt legislation on issues in the field of electronic and digital signature. SINGAPORE – The real estate company ERA Realty Network creates digital signatures for leases and helps its agents save time that would have been spent on personal meeting of property owners for wet signatures. Electronic signature authentication systems use sophisticated authentication and verification processes that establish a unique stamp guaranteeing the authenticity of the signatory and document involved. Therefore, even if the signature is called into question, it is not fatal to the existence of a lease. Singapore`s Companies Act recognizes the use of electronic recordings. Singapore companies (read how to register a business in Singapore) can keep records (for example. B membership register) in electronic form.
The law also provides that company documents can be kept either on paper or electronically. Disturbances resulting from the emergence and spread of Covid-19 and follow-up measures such as “social distancing,” which aim to “flatten” the curve, can lead to different situations where obtaining a traditional signature “wet ink” is inappropriate or excessively complex. We hope this note will be useful for you as a starting point for your discussions on the use of e-signatures. If you need more information, advice on certain transactions or to launch a scanning program, please contact your regular contact with Allen-Gledhill or one of the partners mentioned below. Following the UN Convention on the Use of Electronic Communications in Contracts, Singapore conducted a new ETA review in 1998 to present an updated ETA in 2010. ETA 2010 retained the legal format for the processing of electronic transactions found in the 1998 ETA; However, several details have been modified to provide greater flexibility. The section deals with electronic contracts enshrined in CNUDCI laws. It also solves problems related to the indivisibility of electronic contract laws. Moreover, the law sets out the position of electronic contracts.
Under this section of the ETA, the applicability and validity of a contract cannot be denied solely because the offer and acceptance were made electronically. No data set can be considered illegal simply because it is in electronic form; In other words, the mere fact that certain information has been stored electronically can never be used to invalidate that information in any way.