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In the wake of the COVID-19 pandemic, in-person meetings and human interactions in closed spaces have become prohibitive in the global environment. As it is customary in Mexico to hold a meeting with the parties in a conference room, the new reality impacts usual procedures for closing transactions.
Electronic signatures and “wet” signatures (under the below mechanics) are two possible solutions when in-person meetings are not possible.
Electronic Signature (e-signature)
Under Mexican law, parties can grant consent verbally, by written form, by electronic means, by optical means or through other technology, among other forms. All of these means for granting consent have the same legal effects to a ”wet” signature. Some types of agreements require certain additional formalities to be enforceable, such as notarization, but most agreements do not require additional formalities to be valid as long as there is consent. Commercial transactions which require by law that the formality of agreements be executed through a “wet” signature, the Commerce Code permits the use of electronic means, identified as data messages and e-signatures in the Commerce Code.