Responsiblities & Limitations

Owned by Brittany Noethen
Mar 25, 2020
3 min read

We are offering the eSignature service through DocuSign as an enhancement to the current account opening tools available to you in the Account Wizard and LaserApp platforms. If you choose to use this additional technology service, you must acknowledge and agree that you understand that the service has certain limitations and that you have responsibilities.

Responsibilities

  1. You are responsible for reviewing each document before you send it out to clients for electronic signature.

    1. For each document, review and assess if the document is eligible for eSignature.

    2. If a document is eSignature eligible, you must review that document and assign the appropriate Signer to each Signature or Initial Here field.

      1. If you do not assign a signer in a required signature spot, the client will not be able to eSign the form when they receive it in the DocuSign environment.

      2. If a required signature or initial here field is missing, it will be rejected by compliance, and you will be required to secure a new, signed document from the client that is in good order.

    3. If a document is not eligible for eSignature, it is your responsibility to determine if the item requires an original signature.

      1. Items that require original signatures can be delivered to a client electronically, but cannot be eSigned or returned using the Fax service in DocuSign.

      2. If n document is not eSignature eligible and does not require original signatures, your client can print off the form, sign it and fax the completed document back to an 800 number using the DocuSign Fax Cover Sheet.  This cover sheet is barcoded and will electronically join the faxed documents with the esigned DocuSign envelope.

  2. It is your responsibility to ensure that clients signing the documents understand what must be completed on the documents. This responsibility is the same whether forms are completed electronically or on paper.

  3. You are responsible for helping clients walk through the electronic signing process on DocuSign's system, including

    1. Validating their Identification

    2. Agreeing to the eSignature Disclosure

    3. eSigning all eligible documents

    4. Using the Fax service, if applicable

    5. Attaching documents,if applicable

    6. Managing documents that require an original signature if they were sent in the DocuSign envelope with other eSignature eligible documents.

  4. E-signed documents go through the missing information review process, just like all other paperwork received by the home office. If information is missing, you may be required to have clients complete and resign corrected documents. This may require you to deliver a new set of documents to the client for eSignature.

  5. Clients must fill in both the eSignature and date signed field in every required signature spot. Signatures missing signature dates will be rejected.

 

Limitations

eSignature is not appropriate for every document or situation. Below is a list of common situations when you cannot use eSignatures to complete the paperwork. This is not an exhaustive list, but it does cover the most common situations.

  • Product Sponsor does not support eSignature: Many product sponsor's do not yet support eSignature. Each product company controls their LaserApp document library and determines if they will allow eSignatures on their documents.

  • Notary Required: If the document requires a notary to verify the signer's signature, the document cannot be eSigned

  • Signature Guarantee Required: If the document requires a signature guarantee, the document cannot be eSigned.

  • Witness Required: If a witness of the signature is required, the document can be eSigned, but the in-person signing process must be used with both the signer and the witness. Remote signing cannot be used to complete documents where a witness is required.

  • Original Paperwork Required: If an original signature is required on a document, it cannot be eSigned.

  • Brokerage (National Financial) Items

    • Transfers (TOAs): TOA forms that have been e-Signed may or may not be accepted by the delivering firm. Therefore, at this time, we cannot accept eSigned ACAT forms. Please be aware that NFS does enable this form for eSignature in their LaserApp library.

    • Check-Writing Signature Cards: These are designed for signature-comparison purposes and must therefore reflect the client’s actual, physical signature.