The world is going digital and equipment lease transactions are
no exception. Today, business is increasingly conducted
online, and the necessity to do so has only been amplified with the
COVID-19 health crisis. Luckily, because the movement of
transactions into the digital space was already well underway prior
to COVID-19, the law and the market have had time to adapt to
provide relatively clear guidance as to best practices to ensure
transactions, including equipment lease transactions, can be
completed seamlessly online.
There are two main areas of concern regarding 'virtual'
transactions: (i) the validity of signatures; and (ii) the
creation of an original, authoritative copy of the relevant lease
documents. This article tackles both to provide lessors
guidelines to ensure any electronic lease transaction is properly
executed and the lessor is provided with the original paper.
