How to use Electronic Signature Properly

Most of the work at my job is to digitize our forms and turn them in to web forms.

The form I'm working on asks for the signature of the applicant verifying that they are the owners of the property to claim this credit.

I know that I have signed several important documents online and have never used Digisign to do it. Usually it was checkbox and a sequence of characters like my SSN or Initials.

How should I handle this? Will a simple canvas they can "sign" be enough, or should I use the checkbox + initial combo I see often?

Also, what is the formal name of this process, I've tried many search terms and the results are not related to what I need to accomplish.