Electronic contracts are being increasingly adopted to meet the growing demand from businesses and organizations, gradually replacing traditional contracts. However, selecting the right electronic contract solution can be challenging. Below are four key criteria for choosing the best electronic contract solution.
Criteria for Selecting an Electronic Contract Solution
Compliance with Vietnamese Laws on Electronic Storage and Digital Signatures
In Vietnam, the legal validity of electronic contracts is governed by the Law on Electronic Transactions of 2005 and Decree 52/2013/ND-CP. According to these regulations, an electronic contract must meet the following requirements:
- Content Integrity: The electronic contract must ensure the integrity of its content, prohibiting any alteration or deletion of information.
- Document Authentication: It must allow for the verification of the signer’s identity and the signing time, as well as provide long-term document storage, in accordance with the type of contract or document.
- Accessibility: The electronic contract must be readable and accessible using legally agreed-upon encryption methods by both parties.
Additionally, the digital signatures used in electronic contracts must comply with the technical standards outlined in Vietnam’s laws, such as Decree 130/2018/ND-CP, Circular 16/2019/TT-BTTTT, Circular 06/2015/TT-BTTTT, and Circular 22/2020/TT-BTTTT regarding the mandatory standards for digital signatures and certification services.
Provider capability
Along with the contracting parties, a third party—the electronic contract solution provider—is essential. Therefore, it is crucial to choose a provider with the necessary technological capabilities and a solid reputation.
- Technological Competence: The provider should have robust technical infrastructure, the ability to deliver reliable solutions, experience in system operations, and expertise in handling security issues and system failures. A high-quality workforce is also a must.
- Brand Reputation: Ideally, the provider should be a leading brand in the technology field, with strengths in digital signature services and positive customer feedback. Achieving industry-recognized certifications, awards, and offering excellent customer support are additional advantages.
Software quality
Software quality is a critical factor when selecting an electronic contract solution. A high-quality solution should ensure:
- Full feature sets, from basic to advanced functionalities, including digital signatures, dynamic workflows, dynamic forms, and storage.
- Smooth, stable performance with minimal bugs.
- A visually appealing and user-friendly interface.
- High compatibility across devices and popular browsers.
- Seamless integration with other systems to expand the organization’s ecosystem.
Suitability for the organization’s scale and needs
To select the most appropriate solution, decision-makers must analyze their organization’s specific requirements and use cases. Depending on the scale, usage frequency, cost, security needs, and business integration demands, organizations may choose between an on-premise model or a cloud-based solution.
- On-premise Model: This model offers full control and maximum security but requires significant operational capabilities and higher upfront costs.
- Cloud-based Solution: Ideal for small to medium-sized organizations with moderate usage, this solution offers reasonable costs, quick deployment, easy management, and does not require a dedicated IT team.
Smart eContract: A Smart Electronic Contract Solution that Meets All Standards
Developed by SAVIS, Smart eContract is designed to meet the digitalization and automation needs of organizations and businesses. It complies with all the requirements of a comprehensive electronic contract.
As the top provider of digital signature services in Vietnam, SAVIS consistently pioneers innovative technologies and features that meet international standards while addressing local business needs.
With QTSP certification, Remote Signing services via TrustCA, and Vietnam’s first and only electronic timestamp certification service—TrustCA Timestamp—SAVYINT is building a complete ecosystem for electronic documents, transactions, and e-commerce, all while adhering to both local and international regulations.
SAVYINT offers various digital signature solutions, including Smart eContract (the intelligent electronic contract) and SAM Appliance (a key management and digital signature device). These innovations solidify SAVYINT’ position as the top provider of digital signature solutions.
Smart eContract complies strictly with Vietnamese laws on electronic contracts and digital signatures, as well as electronic document storage regulations. The solution adheres to the technical standards required by Decree 52/2013/ND-CP, as well as Decree 130/2018/ND-CP, Circular 16/2019/TT-BTTTT, Circular 06/2015/TT-BTTTT, and Circular 22/2020/TT-BTTTT. SAVIS is the only provider in Vietnam that fully meets the mandatory technical standards and advanced digital signature standards (AdES), including long-term validation (LTV) and timestamping, required by the European Union.
Advanced features of Smart eContract
Smart eContract is the first and only solution in Vietnam to integrate advanced digital signing features such as AdES (advanced electronic signatures), timestamping, long-term validation (LTV), and long-term archive and notarization services (LTANS), ensuring storage for 10, 20 years, or even permanently.
Save up to 90% in time and costs
Compared to traditional contracts, Smart eContract reduces operational, printing, shipping, and paper storage costs significantly. With dynamic workflows, all operations can be completed electronically, minimizing processing time for organizations and businesses.
Contact SAVYINT now for the best support!
