Pursuant to the Electronic Signatures Act of Taiwan (ESA), it is permissible to sign documents using electronic signatures with the counterparty's consent. In addition, where a digital signature meets the requirements listed in the ESA (e.g., being supported by a certificate issued by an approved certification service provider and being valid and within the purposes of use), it can be employed in an electronic document. Although the ESA provides no statutory limitation on the types of documents that can be executed by electronic signatures, it provides flexibility for the government authorities to make exceptions regarding the use of electronic signatures by stipulating laws or regulations. For example, the FSC, the competent authority for the financial services industry in Taiwan, imposes a restriction on the application of electronic signatures to a negative pledge undertaking as mentioned in Article 30 of the Banking Act, being a written document where a borrower, mandator or the party on behalf of which the guarantee is issued makes an undertaking not to provide its assets as collateral for obligations owed to a third party.