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#1396670 - 05/26/10 08:06 PM ESIGN for faxing extension agreements?
Busy body Offline
100 Club
Joined: Nov 2004
Posts: 160
Texas
Whether faxed documents are subject to E-Sign is a debate unto itself, but, assuming for the moment that they are, is an extension agreement or modification a "record" under E-Sign? It's not a disclosure required by regulation...but is it a document in writing required by law? Thanks in advance for any input!

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eBanking / Technology
#1400120 - 06/05/10 11:34 AM Re: ESIGN for faxing extension agreements? Busy body
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,035
Toano, VA
An extension agreement is a contract document. It is not a required federal disclosure. In order to establish evidence of agreements, contracts are usually memorialized in writing. Assuming you want to create a document for this purpose and transmit it to the borrower, you are free to rely on your state's UETA as the legal authority for what constitutes a valid "written" document. Only when you are dealing with federally-required documents do you need to go the ESIGN route.
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