What is the difference between the facilitator type and the party type? Comparing electronic contract signature methods across five axes [How to Choose Electronic Contracts | vol.2]
In the previous discussion, I conveyed that electronic contracts are legally valid and that there is a range of strictness in identity verification depending on the method of signature. This time, I will organize the differences between the "witness-type" and "party-type" that create this range along five axes.
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- The witness-type involves the business entity, while the party-type involves the contracting parties themselves performing the electronic signature.
- Both can be subject to the presumption of validity under the Electronic Signature Act if they meet the requirements. The difference manifests in the mechanisms of identity verification and the ease of demonstrating validity in case of disputes.
- It is not about which is superior; rather, the basic principle is to differentiate based on the importance of the contract and the circumstances of the other party.
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