Name
Global FinTech Guide
Country Name
United Rep of Tanzania
SectionTitle
Signature requirements
Body
The signature requirements pertain the legal or contractual requirements in order to make a legally effective declaration of intent or a legally binding contract.


Possibility to replace a specific formal requirement of making a binding declaration of intention

Specific formal requirement of making a binding declaration of intention can be replaced with an electronic form (digital document with a qualified electronic signature).

Presence of any specific formal requirements to effectively conclude a loan agreement

There are no specific formal requirements to effectively conclude a loan agreement. It essentially has to fit in what is required for a contract to be effective.

Process of conclusion of a contract by using a qualified electronic signature in practice

There are no vendors and they do not need a license or registration.

Legal consequences to a contract in case of not fulfilling formal requirements

The contract becomes void.

Usual practice of signing contractual agreements in the B2B sector

They are signed in written form.

Usual practice of signing contractual agreements in the B2C sector

They are signed in written form principally, however, electronic signatures are sparingly used in identified areas.

Authors

Disclaimer

© 2022, Hilton Law Group. All rights reserved by Hilton Law Group as author and the owner of the copyright in this chapter. Hilton Law Group has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

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