Electronic Signatures: Types, Uses, and Business Benefits
InBase clarifies key aspects of electronic signatures, their types, and practical applications in Ukraine.
InBase has published an article explaining the specifics of electronic signatures (UAP/QES) in Ukraine. According to the Law of Ukraine “On Electronic Trust Services,” an electronic signature is a unique set of encrypted data that identifies a person and gives legal force to documents. It ensures document integrity, confirms the signatory’s identity, and protects against forgery.
There are different types of electronic signatures. An Advanced Electronic Signature (AES) is stored on a computer or flash drive and can be created online. A Qualified Electronic Signature (QES) offers a higher level of security, is stored on a secure device (token), and requires personal identification for issuance. It is important to note that as of December 31, 2023, AES can be used instead of QES for most purposes, unless otherwise stipulated by law. A separate category is cloud-based QES, which is stored on a remote server, providing high security and accessibility from any device.
For Ukrainian businesses and the Intecracy Group audience, understanding these nuances is critically important:
- Enhanced Efficiency and Security: Electronic signatures enable rapid and secure document signing, optimizing business processes and reducing the risk of forgery.
- Flexibility and Remote Work: The availability of AES and cloud-based QES offers operational flexibility, allowing businesses to conduct operations and sign documents from anywhere in the world.
- Legal Compliance: Using appropriate types of electronic signatures ensures the legal validity of documents and compliance with Ukrainian legislation, which is fundamental for reliable relationships with partners and government bodies.
The validity of an electronic signature can be verified on the Diia website or the Central Certification Authority website.
Source: InBase