Exchanging documents with counterparties is the daily routine of any business: contracts, acts, invoices, specifications. Done on paper, every document loses days to mail and couriers. Online exchange cuts that cycle down to minutes. Let's look at how it works in eObig.
What online document exchange with counterparties is
Exchanging documents with counterparties online means sending, approving and signing documents electronically without printing or mailing paper. Both parties work with a single electronic copy, sign it with a Qualified Electronic Signature (QES), and the document immediately gains full legal force.
The main advantage is not only speed. You see the status of every document in real time, nothing gets lost, and the entire history is kept in a searchable electronic archive. The full list of capabilities is on the features page.
How the exchange works: step by step
A typical exchange scenario looks like this:
- Create or upload the document. You prepare a contract or act — manually, from a template, or with AI.
- Internal approval. If needed, the document runs through an approval route inside your company before it reaches the counterparty.
- Send to the counterparty. The document goes out for signing or approval by the other side.
- Both parties sign. Each side signs the document with its own QES.
- Archiving. The signed document is automatically stored in the archive of both participants.
Internal approval before sending
Before the counterparty sees a document, it can be approved inside the company — for example, from a manager to a director and an accountant. Read more in document approval routes. This way the counterparty receives a document that is already checked and ready to sign.
Signing by link: the counterparty needs no account
The most common obstacle in electronic exchange is "what if the counterparty doesn't use this service?" In eObig this is solved with external signing by link.
You send the counterparty an ordinary link. They open the document in a browser, review it and sign it with their own QES — with no registration and no software to install. Their private key and password never leave their device, and signing happens right in the browser. For the counterparty it is as simple as possible; for you it means no excuses and no delays.
This approach is especially convenient when working with small businesses and sole traders who don't want yet another account. For the specifics of that audience, see EDM for small business and sole traders.
Real-time status tracking
When there are many documents, the key question is "what stage is it at?" Online exchange gives you transparency:
| Status | What it means |
|---|---|
| Sent | The document has gone to the counterparty |
| Viewed | The counterparty has opened the document |
| Signed by one party | One QES has already been applied |
| Signed by both | The document is valid, the deal is concluded |
| Rejected | The counterparty returned it with comments |
You no longer call to ask "have you signed it?" — the status is visible at once. Notifications flag every change, so the chain doesn't stall on a forgotten action.
Everything is kept in the electronic archive
Every signed document automatically lands in a searchable electronic archive — by title, counterparty, date or status. You can always find the right contract in seconds, export it together with its signature data, and confirm its integrity. This removes the risk of losing originals and simplifies any audit.
Conclusion
Exchanging documents with counterparties online saves days on every deal, makes the process transparent, and preserves full legal force thanks to QES. External signing by link removes the last barrier — the counterparty needs neither an account nor plugins.
Ready to speed up work with your counterparties? Book a demo or create your first document today at portal.eobig.com.