On November 1st, 2018, Fundserv released a document package in conjunction IFIC, which consists of 3 parts:
- Guidelines document – defines a common set of minimum criteria that all organizations will use when obtaining electronic signatures
- Contract Addendum – defines the terms and conditions between organizations when they send e-signed documents to another party for execution of client instructions
- Companion paper – provides background on the purpose of this initiative and helps answer frequently asked questions
How does this e-signature initiative affect my organization?
If your organization uses or plans to use an e-sign solution, we recommend that your compliance, operations and legal teams review and become familiar with the guidelines in order to align and institute, where necessary, changes within your organization. If applicable, distributors should share the documents with their e-sign solution providers to ensure they are also aligned with the guidelines.
Even if you don’t currently have an e-sign service, you could soon be on the receiving end of an e-signed document. Understanding the terms and conditions of e-signature acceptance in the Contract Addendum will allow other industry members to more easily do business with you.
Last Updated: November 2019