A wet signature (also called a wet-ink signature) is a mark placed on a physical document with a pen, pencil, or any other writing tool to show an agreement between two or more parties, whether that’s people or institutions. For example, a handwritten signature on a mortgage deed or on a divorce agreement.
But a wet signature isn’t limited to a handwritten signature only. It can be as simple as an ‘X’ mark or as sophisticated as using a name seal (a piece of wax or lead with a unique design stamped into it) to verify the document’s authenticity.
In this article, we’ll talk about:
- When you need a wet signature
- The pros and cons of using a wet signature
- The alternatives to wet signatures
- The differences between wet, digital, and electronic signatures
Let’s dig in!
When do you need a wet signature?
You need a wet signature when an institution requires a physical signature on a document, or when the law does not recognize electronic signatures for that document.
For example, you’ll need a wet-ink signature to sign any of the following documents because the law doesn’t allow the use of electronic signatures with them.
- Family law documents like divorce, adoption, etc.)
- Wills and trusts
- Utility cancellations
- Housing documents (eviction, foreclosure, etc.)
- Court orders
- Life and health insurance terminations
- Hazardous material travel documentation.
Although the Electronic Signatures in Global and National Commerce Act (E-Sign Act) allows the validity of eSignatures, it also permits institutions in the United States to impose signature policies based on their preferences. This means that an institution that prefers that people sign their contracts with a written signature can enforce that preference.
Pros and Cons of using Wet Signatures
To decide whether to use wet signatures, consider the pros and cons.
Pros of Wet Signatures
They are universally accepted
Wet signatures are accepted virtually everywhere. They are the oldest and most common form of signatures, after all.
You don’t need special equipment to sign them
Unlike electronic signatures and digital signatures, you don’t need special equipment to sign wet signatures. All you need is a pen to sign the document given to you.
Cons of Wet Signatures
They are expensive and inconvenient to use
Businesses that rely on wet signatures must purchase paper, printers, and ink. They also have to pay to store the signed documents in an off-site contract repository. A company spends around $25,000 to fill one file cabinet and an additional $2,100 each year to maintain it. The costs of filing thousands of documents can cause higher expenses for a business.
People can easily forge wet signatures
Wet signatures are not secure. With enough practice, someone can easily forge a wet signature. Take the case of ebay bookseller, Forrest Smith, who forged autographs and sold autographed books to over 400 people before he got caught.
They can take a long time when there’s a physical distance between signatories
On signing day, all signatories and their witnesses must meet at the location to sign the documents. If a signatory cannot make it to the location on the signing day, someone would have to mail the documents to the signatory. Once that signatory has signed, they must mail the documents back to the other contracting parties. This process takes a lot of time.
They are not eco-friendly
Wet signatures are not eco-friendly because it involves the use of paper. According to a report documented on ResearchGate, the production of paper contributes to land, water and air pollution, and climate change. To make paper, the manufacturers need to cut down trees and process the wood. The production of paper in paper mills releases sulfur dioxide, nitrogen oxide, and carbon dioxide into the air, all of which are air pollutants. Finally, when paper rots after it’s disposed of, it emits methane—a greenhouse gas—into the air.
Wet Signature Alternatives to Consider
While wet signatures are universally accepted, they are not very secure because they’re easier to forge. If you want a signing method that is both secure and flexible, consider alternatives such as electronic and digital signatures.
Electronic signature
An electronic signature is a symbol (such as a check mark) attached to a document and used by a person who wants to sign it.
Businesses and people save time and money when they use electronic signatures instead of wet signatures because they don’t have to print the document.
You simply click a box, use your finger to draw your name on your device’s screen, or type your name into a signature field shown to you from your computer, tablet, or mobile phone.
You’ll need an electronic signature software like SignWell to sign electronic documents. SignWell handles electronic signatures to ensure compliance with E-Sign laws worldwide. It tracks, identifies the people involved, proves intent –people have to agree to sign electronically, and ensures that the documents aren’t modified.
Digital signature
A digital signature is a PKI-based certificate that verifies a signatory’s identity and ensures that no one has forged or altered an electronic document or message. A public key infrastructure (PKI) is the set of policies, software, hardware, and procedures that is needed to provide unique digital identities for signatories and protect sensitive data.
Digital signatures are a bit more complicated than electronic signatures and aren’t necessary for most documents. They provide non-repudiation for electronic transactions. This means that a signatory who has the signature key pair for a document cannot successfully claim that they did not sign that document. This feature is especially useful for workflows where multiple people must approve the signed document, such as financial management of expense reports or supply chain management.
You’ll need digital signature software like Secured Signing to sign documents.
5 Differences between digital, electronic, and ‘Wet Ink’ Signatures
Wet signatures are easy to differentiate from other signature types because they are the only handwritten signatures. But what about digital and electronic signatures?
Here’s how each signature type differs from the rest in five areas:
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Accessibility
- Wet signatures are the most accessible type of signature. You only need a pen to write your name or make a mark on a paper document.
- To append an electronic signature, you need to use a mobile device or a computer, which may be inconvenient if you don’t have one.
- You need a mobile device or a computer plus special software to sign digital signatures.
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Convenience
- Wet signatures are inconvenient when distance is involved. You’ll need to physically mail the document back and forth to complete a contract.
- Electronic signatures are convenient because you don’t have to go to any location or mail the document. You can sign your document right from your phone or computer.
- Digital signatures are typically inconvenient because they require specialized software and often require additional steps for identity verification. And the software/technology is often hard for non-technical people to understand.
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Verifying signatories
- Because wet signatures are physical, there’s no way to easily verify who signed it. The only way a court can attribute a wet signature to a signatory is if notary publics witnessed the signing process and confirmed the signatory’s identity or if the signatory admits to signing the document.
- Electronic signatures identify signatories by their email addresses, IP addresses, and the browser they use at the time of signing.
- Digital signatures identify signatories using the signatory’s private and public keys.
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Forgery
- Someone can easily forge a wet signature with practice.
- It is difficult to forge an electronic signature because the signing system keeps track of the signatory’s email address and IP address, which can verify the signatory’s identity.
- It is nearly impossible to forge a digital signature because the signing system assigns each signatory unique private and public keys that can verify their identity.
Electronic signatures are convenient, less messy, and legal
While wet signatures are the old way of signing documents, electronic signatures eliminate the time-consuming tasks of printing, scanning, faxing, or mailing contracts. Electronic signatures are especially useful for remote workers who cannot appear in person to exchange and sign contracts.
Electronic signatures are secure, too. Unlike wet signatures, electronic signatures provide traceable data about who the signatory is, when they signed, and where they signed.
If you’re considering using electronic signatures for your business, tools like SignWell make every process from the document creation to actual signing easier.
