In recent years, the auction of second-hand cars, real estate, equity, digital collectibles, and legal litigation assets has gradually shifted from offline to online. The application of electronic signature technology has solved the problem of online signing of entrusted auction contracts, bidding contracts, and transaction confirmation documents, helping auction institutions establish a fully digital "online auction" channel without the need for attendance, face-to-face meetings, or online auctions, and improving transaction efficiency.

"Internet auction platform" and "mobile auction applet" can integrate electronic signature system , realize the expansion of online auction electronic signing function, so that the commissioned auctioneer can sign contract agreements with the platform and bidders efficiently through WeChat applet. Full process real name authentication protection, automatic preservation of transaction evidence chain, no need for face-to-face meetings or paper, efficient and standardized online auctions.

(Electronic Signature Application Scheme in Online Auction Business)

From "On site Bidding - On site Face to Face Signing"

to "Online Auction - No Face to Face Signing"

  It has become increasingly difficult to organize offline auctions in the past. The transaction model of on-site bidding and face-to-face signing not only has a long organizational cycle and difficult time coordination, but also makes it impossible to carry out auction business once one party's schedule changes.

② The lack of electronic signature function of the Internet auction platform can only adopt the mode of "online matchmaking and offline signing", and the tedious signing work continues to lengthen the waiting time, affecting the transaction efficiency. ③ The true identity of the participants cannot be determined, and phenomena such as proxy signing and denial are difficult to avoid. It is also difficult to define responsibilities and control platform risks. The mode of offline signing and express delivery signing, once disputes arise, it is difficult to collect evidence and there are still many risks in the transaction. Paper contract documents related to auction business are easily forged, and there are often risks such as illegal auctions and fraudulent auction payments. Now, auction institutions can fully verify and authenticate the true identities of participants in commissioned auctions and bidding processes, organize online auctions, sign contracts without meeting in person or online, automatically store and lock the entire auction process data, allowing auctions to be conducted without spatial limitations, with efficient transactions, non repudiation, and identifiable authenticity of materials.

(Digitalization of the entire online auction process)

Function scenario: Electronic signature application in online auctions:

Real name authentication of both parties in the auction to ensure personal participation

Ensuring real identity

True willingness to participate in auctions is an important foundation for the compliance and effective conduct of online auctions. However, under the virtual Internet auction environment, it is difficult for auction institutions and platforms to determine the identity of participants in a timely manner through manual review, and it is difficult to determine the real responsible person during the signing, entrustment and bidding process, and to prevent repudiation. Now: Auction institutions and platforms can use contract lock digital identity authentication technology to enable identity authentication and verification functions for each stage of the auction. The registration of accounts, entrusted auctions, bidding, signing, transaction confirmation and other stages automatically recognize and authenticate real identity information through facial recognition, ensuring personal participation and preventing others from signing, bidding, or uninformed auctions. This ensures personal participation and cannot be denied.

(Key step intelligent identity verification)

Electronic signing of entrusted auction contracts, fast demand docking

Online auctions often exhibit characteristics of high auction frequency, short time, and high efficiency requirements. Auction institutions have a large amount of auction application information to approve and respond to every day. Only by timely promoting the signing of commission contracts with auction parties can further organize bidding. The long signing cycle of paper contracts is difficult to meet the fast-paced service requirements of online auctions. Now: Auction institutions can integrate their existing auction mini programs and business systems with contract locks and electronic signature applications, achieving comprehensive integration between mobile, business, and electronic signatures. The seller only needs to open the WeChat mini program to complete registration, authenticate their real name, and apply for auction. The platform will automatically check the application in the business system and call the contract lock interface to create the contract file to be signed. Within 20 minutes, the seller can sign the contract on their mobile phone and the platform will automatically stamp it. Not only does it provide convenience for the auctioneer, but it also avoids internal mechanized stamping work, speeding up the entrusted auction process.

(Electronic signature of entrusted auction contract)

Bid contract/transaction confirmation letter Electronic signature , fast transaction

According to the requirements of the Auction Law, during the bidding and transaction stage, the auctioneer and the bidder shall sign a transaction confirmation letter separately to determine the bidding price and other results, as well as to determine the rights and obligations of both parties in the bid contract. In the past, both parties had to be present, have face-to-face interviews, or sign contracts by express delivery. It was either inconvenient to travel back and forth or worried about whether the signatory was the person in person, and the cost and risk were beyond control. Now: After the auction is completed, the auction institution can automatically call the contract lock interface in its own business system to create a confirmation letter and bid contract document signing process. The auctioneer and the auction party can check the signing message with the help of WeChat mini program or mobile SMS. Real name authentication and mobile signing can solve the trouble of manual drafting, long-distance travel, and express transmission in on-site auctions, and shorten the transaction confirmation cycle.

(Auctioneers and bidders sign confirmation letters and bidding contracts online)

↓ For example: If a bidder participates in the auction and wins the bid, an electronic contract signing process will be automatically generated on the transaction page, and they can log in to the contract lock signing page with one click to sign the contract document.

You can also use WeChat mini programs, SMS links, H5 pages, and mobile devices to complete the signing process with multiple options, making it more convenient and flexible.

(Signing bidding contracts on mobile devices)

Preserving a complete evidence chain, the auction process and results cannot be denied

The business system of the auction institution can use the contract lock

digital certificate storage function to automatically lock the entire auction process and result data, and synchronize it to authoritative notary offices and blockchain for certificate storage. Make all auction stages non repudiation, traceable, and reproducible. If there is a dispute, simply find the signed document and apply for a certificate online with just one click, without the need to spend time and effort collecting evidence, ensuring the rights and interests of multiple parties. The authenticity of auction contract documents can be verified, and fraud and anti-counterfeiting measures can be taken.

In the auction business, it is common to illegally auction for profits without the knowledge of the parties involved due to the forgery of auction documents; Or use forged transaction confirmations or bidding contracts to defraud auction proceeds and other risks.

Now: All auction related documents signed through

electronic signature

can directly verify the authenticity of signatures and seals online, effectively preventing fraud and ensuring the safety of auctioneers and bidders' assets.