Posted by Mumbai: Cygnet Infotech has added a new ‘e-stamp’ feature to its e-signing solution Cygnature. With the e-stamp feature, businesses will be able to procure e-stamps through the Cygnature platform and significantly ease the process of stamping documents.
Cygnature is a signing solution from Cygnet Infotech. It securely authenticates signers, offers them a range of signature types for signing and protects the integrity of the documents.
COVID-19 has been a catalyst in pushing industries to move towards a paperless economy by offering a faster way of executing documents.
Cygnet Infotech’s Cygnature supports organisations when it comes to digitally transform their businesses. Cygnet Infotech’s Cygnature has added a useful feature e-stamp in its latest release providing multiple benefits.
e-stamp gets generated within minutes using this feature. It can help save time as physical stamp paper procurement is a time-consuming process. Users can prepay the stamp duty amount and then issue stamp papers against that balance.
With Cygnature, the solution can help digitize the process of paying the stamp duty and procuring e-stamp challan online rather than going to a stamp paper vendor to procure traditional stamp paper:
- Initiate a workflow by uploading an agreement on Cygnature
- Then to add e-stamp, select state and stamp duty amount to be paid for the relevant document category
- Provide details of the first and second party
- On confirmation of details, the e-stamp challan will be generated and gets added instantly to the uploaded agreement
- Both the parties can then continue to sign the document using Cygnature by adding placeholders to e-sign the document
- From the prepaid amount deposited in the user’s Cygnature account , the stamp duty amount will be deducted
- The physical copies of the stamp paper will be couriered at the end of the month to the consumer’s address
Cygnature will not provide advice on the amount of stamp duty to be paid. This will have to be decided by the user.
“Cygnet Infotech’s product, Cygnature has been developed with an aim to promote seamless digital signing of documents. With the introduction of Cygnature’s e-stamp feature, we seek to further support businesses in speeding up the process of authorization of documents,” said Niraj Hutheesing, Founder and MD – Cygnet Infotech.
“Paying stamp duty is mandatory for many transactions across the country, and to simplify the process, e-stamp will help tackle counterfeiting and will further make the payment of stamp duty easier and glitch free,” added Hutheesing.
In this latest release, Cygnature’s e-stamp feature will be available in five states namely Delhi, Gujarat, Maharashtra, Karnataka and Tamil Nadu.