Signing contracts with Contractbook is simple, but some might wonder if they have any legal power, when there is no physical signature? The answer is YES!
Contractbook has electronic records of all contracts. They are encrypted and locked from editing after signing them, and they are stored safely in a cloud based service, which can be retrieved as .pdf file, at any time to support the existence of a contract.
About the signature
To cast some light on what actually makes our contracts, and digital signature safe and legally binding, look through our security measures below:
Communication over secure SSL connection prevents from stealing a user's credentials and man-in-the-middle attacks where an attacker is able to sniff all the data that is being sent
Only correctly verified accounts can create and sign contracts. The verification process consists of two factors:
- Verification of email address through unique links issued by email
- Verification of phone through secure one-time passwords sent by text message
To sign a contract user must additionally provide a secure confirmation token received in a text message
The user provides a password only once and gets a secure token as a response
The user has to provide a received token on each request to the application
Tokens are invalidated after some specific time which requires user to login again and prevents from stealing these tokens
Session data is remembered on a client side and is not stored on a server which improves security in case of any malicious operations
Encrypted information storage
Passwords and verification tokens are stored encrypted using modern and state-of-the-art solutions including the bcrypt key derivation function. We don't store plain data but use cryptographic one-way hash functions.
Unique key for every single contract
Contracts can only be viewed through the website using a verified account or using a unique key that is issued to the recipient's email address
If you have further questions to the signature-details or other areas of the platform, you are more than welcome to reach out, any time!