When it comes to choosing the right digital tools for your organization, security and compliance should top your list of evaluation criteria. Your eSigning software is certainly no exception.
Partnering with a high-trust vendor that proactively protects your organization as it evolves will give you peace of mind that your compliance and competing business needs are fully met.
In this article, we answer five of the most asked questions to help you learn the value eSign QTSP's can bring to your organization.
1. What is a Qualified Trust Service Provider?
The Electronic Identification, Authentication and Trust Services (eIDAS) regulation defines the legal structure for electronic identification, signatures, seals and documents throughout the European Union. eIDAS was put in place to increase the security of transactions for businesses (such as eSignatures), no matter where in the EU they occur.
A Trust Service Provider (TSP) provides Trust Services that are responsible for upholding standards for authentication and digital certification. Each EU member state can add Qualified or Non-Qualified Trust Service Providers to theEU Trusted List by certifying that they meet strict regulations. For a Trust Service Provider to be granted a ‘qualified’ status, they go through rigorous and independent assessments, including regular audits to ensure they continue to meet eIDAS’s requirements.
2. Are All eSignatures Qualified?
eIDAS classifies eSignatures by the level of assurance they offer across three types:
- Simple Electronic Signatures (SES)
- Advanced Electronic Signatures (AES)
- Qualified Electronic Signatures (QES).
A Qualified Electronic Signature offers the highest level of security and is considered the equivalent to a handwritten signature. It binds the signer’s identity to its signature by means of a personal, qualified certificate issued by a Qualified Trust Service Provider.
3. Should My Organization Be Using a Qualified eSignature Solution?
It's important that your organization considers the different use cases for eSignatures in your business. Look closely at the transactions you’ll be eSigning and the risk levels associated with these workflows. If you operate in a highly regulated industry with complex, high-priority projects, it is recommended you choose a solution with the highest level of security to ensure you maintain eSign compliance.
As Qualified Trust Service Providers undergo a more stringent assessment process, they provide a stronger specific legal effect than non-qualified ones. They can help secure and streamline high-value transactions like life assurance policies, purchase contracts and finance agreements.
4. What Are the Benefits of Using a Qualified Trust Service Provider?
- High Compliance: QTSPs guarantee full compliance with the eIDAS regulation, so you can be sure your organization is meeting its regulatory requirements and your eSignature workflows are in safe hands.
- Legally Binding: Due to more stringent assessment processes, Qualified Trust Service Providers offer a stronger specific legal effect than non-qualified. They're also legally binding across EU countries and can be used as evidence in any court of law.
- Strong Security: Security, like compliance, is a huge consideration when choosing an eSignature solution. QTSPs offer additional layers of protection and minimize risk with your electronic transactions.
- Superior Industry Expertise: You can be assured you are receiving the highest level of knowledge and support with QTSPs. They'll have a thorough understanding of your eSign compliance requirements and how they need to be applied to your business workflows.
5. Is Nitro a Qualified Trust Service Provider?
Yes. Connective, a Nitro company, became a Qualified Trust Service Provider for eSignatures service after receiving full accreditation from LSTI in 2014.
The certificate can be viewed here.
Try High-Trust eSigning For Your Business
Nitro offers a superior eSign experience, without compromising on compliance and security.
For an in-depth look at important regulations, plus an assessment on how Nitro Sign Premium complies with these global regulations, download the 2022 DLA Piper Legal Compliance Assessment.
If you want to learn more about eSign compliance and how Nitro can help you meet your organization’s specific needs, reach out to our team of experts.