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Electronic signatures for Monaco businesses

Electronic signatures for Monaco businesses

By Stephanie Horsman - March 11, 2021

The government is now offering Monaco’s businesses the option to use their new digital certificate delivery service as the next step toward the country’s total digital transition.

Digital certificate delivery services, more widely known as electronic signatures, are now online and ready to use in Monaco.

The government, in partnership with the Monegasque Digital Security Agency, the company in charge of Monaco’s information systems security, has developed this option for professionals who have made, or are making, the leap to a paperless system.

An electronic signature is the same as a handwritten signature for “dematerialised” documents. The signature is just as valid as one done by hand as it has been specifically signed by an identified representative of a company and can be used for documents like pay slips, voucher orders, invoices or contracts with suppliers.

This latest step is in line with the Principality’s Extended Monaco digital transition programme and the accompanying law passed in December 2019 to help facilitate the transition.

“The electronic signature represents an important issue in the digital transition of Monegasque companies as part of the country’s economic recovery plan,” says Minister of Finance and the Economy, Jean Castellini. “This measure allows optimised, identified and more secure exchanges between the various stakeholders. It establishes a common base for electronic interactions between citizens, businesses and public authorities.”

For end users, there are certain benefits attached to this kind of system. Sending documents online is a time and space saver. Companies no longer need to stock paper, use printers or physically archive documents. This eco-friendly approach is also easy to use, as the government is supplying a USB key reader and Adobe Acrobat Reader free of charge to those who sign up for the service.

The signatures have “enhanced security” measures built-in. Every signature is guaranteed to be authentic and cannot be questioned by either party, so the documents can be trusted by both parties to be binding.

Additionally, as more work is being done remotely, this option ensures the wheels of business continue to roll smoothly forward instantly, without worry for health and safety concerns or long delays involving courier or postal services.

Perhaps it is best summed up by Frédéric Genta, Interministerial Delegate in charge of the Digital Transition, who said: “The electronic signature will simplify the life of companies and users of the Principality, for all the daily acts which require a signature. Monaco thus joins technologically advanced states which have already deployed similar initiatives. For our companies, it means more security, speed, savings and space savings, all the more so in a context where distance has become the norm.”

 

Photo by Stephane Danna, Government Communication Department

 

 

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