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Remote signing protocols for financing transactions

Remote signing protocols for financing transactions

By LIV Media


Increasingly these days, documents are circulated for execution by email, rather than by having parties come together to sign the same hard copies. It may not always be clear, however, that documents executed in this way can be legally effective – particularly if a statutory signing formality applies, or if they are intended to take effect as deeds.

An informal committee of practitioners from five firms (Allens, Ashurst, Herbert Smith Freehills, King & Wood Mallesons and Norton Rose Fulbright), known as the Walrus Committee, has developed a set of signing protocols that are designed to enhance the prospects that documents signed remotely will be legally effective. The firms are sharing the protocols with the broader market, in the hope that this will help the legal community to develop more consistent market practices.

The protocols were designed particularly for financing transactions, but are likely to be applicable in other contexts as well. You can access a copy of the protocols here.

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