Are electronic signatures valid?

Yes. Electronic signatures that show signer intent, consent, attribution, and record retention meet the ESIGN Act (15 U.S.C. ch. 96) and UETA requirements in most states; exceptions apply for certain document types.

When is notarization required?

Notarization depends on state law and the document’s purpose; deeds and some affidavits typically require notarization, while a simple business accuracy statement often does not unless requested by the counterparty or local rules demand it.

How do I correct an error after signing?

Prepare an amendment or corrected statement signed and dated by the same authorized signer; retain both versions and a clear audit log showing why the change occurred to prevent confusion.

Who can sign for the company?

An officer, director, manager, or person expressly authorized by corporate resolution should sign. Retain documentation of delegated authority to defend the signature’s validity if challenged.

What if the IRS flags a TIN mismatch?

Resolve promptly by providing corrected documentation or a new statement; unresolved mismatches can trigger backup withholding at 24% and reporting under IRC provisions.

How should I store executed statements?

Store in a secure, access-controlled repository with retention metadata, an auditable trail, and the ability to reproduce the record; follow federal retention rules and any applicable state or industry-specific requirements.

Electronic Signature
Templates
Miscellaneous
Business Accuracy Statement

Business Accuracy Statement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

BUSINESS ACCURACY STATEMENT

RECITALS

WHEREAS, Certifying Party: is engaged in business and operates at .

WHEREAS, Certifying Party has furnished certain records and representations identified by Business Identification Number: to the Receiving Party for the purpose of evaluation and reliance.

WHEREAS, Recipient requires a formal written certification attesting to the accuracy and completeness of the business information as a condition to reliance and further dealings.

ACCURACY STATEMENT AND REPRESENTATIONS

The undersigned, on behalf of the Certifying Party, hereby represents, warrants and certifies that, to the best of their knowledge as of , all business information, financial statements, ownership records, licenses and related disclosures provided to the Receiving Party are true, accurate and complete in all material respects and contain no material omissions that would render such information misleading.

The Certifying Party further warrants that it has the full authority to make this certification and that the individual signing below, , in the capacity of , is authorized to bind the Certifying Party.

The Certifying Party agrees to promptly notify the Receiving Party in writing of any material change to the information certified herein during the Term defined below.

SCOPE OF WORK

Scope of Certification

PAYMENT TERMS

Payment Amount (USD) Payment Schedule / Milestones Late Fee / Interest

Invoices are due in accordance with the Payment Schedule. Overdue amounts shall accrue interest at the stated Late Fee rate and the Certifying Party shall be responsible for reasonable collection costs, including attorneys' fees, incurred by the Receiving Party in enforcing payment.

TERM AND TERMINATION

This Statement shall commence on and shall continue until unless earlier terminated in accordance with this Section.

Either party may terminate this Statement for convenience upon providing written notice to the other party not less than days prior to the effective termination date. Termination for material breach shall be effective upon written notice specifying the breach if such breach remains uncured for a period of ten (10) days following receipt of such notice, unless a shorter cure period is required by applicable law.

CONFIDENTIALITY

For purposes of this Statement, "Confidential Information" means all non-public information disclosed by either party relating to business operations, financial condition, trade secrets, customer lists, pricing or other proprietary matters. The Receiving Party shall keep Confidential Information strictly confidential, shall not disclose it to third parties except to its employees, agents or advisors who have a need to know and who are bound by confidentiality obligations at least as protective as those set forth herein, and shall use such information solely for the purpose of evaluating or implementing the transactions contemplated by this Statement.

Acknowledge confidentiality obligations

GOVERNING LAW

Governing State Law

ENTIRE AGREEMENT

This Business Accuracy Statement, together with any exhibits or attachments hereto, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations and understandings, whether written or oral. No modification, amendment or waiver of any provision of this Statement shall be effective unless in writing and signed by both parties.

CERTIFICATION

By signing below, the undersigned certifies under penalty of civil liability that the statements made in this Business Accuracy Statement are true, accurate and complete to the best of their knowledge. The undersigned further acknowledges that the Receiving Party may rely upon this certification and that false statements may give rise to civil remedies.

I certify accuracy

Certifying Party:

By:

Date:

Receiving Party:

By:

Date:

What a Business Accuracy Statement Is

A Business Accuracy Statement is a signed declaration by an organization or authorized representative confirming that the factual information supplied in a transaction, application, or record is true, complete, and accurate to the best of the signer’s knowledge. Commonly used during vendor onboarding, financial reporting, licensing, tax documentation, and regulatory filings, the statement documents attribution and intent, supports audit trails, and can be executed electronically under U.S. e-signature law when the parties consent to electronic records and signatures.

Why organizations rely on a clear accuracy declaration

A precise Business Accuracy Statement reduces downstream disputes, supports regulator and auditor requests, and documents signatory intent and attribution for legal and compliance purposes under ESIGN and UETA frameworks.

Who typically completes this statement

The Business Accuracy Statement is completed by the party providing material facts or by an authorized signatory on the business’s behalf.

Finance and accounting teams responsible for vendor or tax reporting verification and TIN confirmations.
Legal and compliance officers who certify corporate disclosures and contract accuracy to external parties.
Vendors, contractors, or partners completing onboarding or contract prequalification questionnaires.

Use by the correct role establishes authority for the statement and reduces the risk of later challenge or regulatory inquiry.

Step-by-step: Completing a Business Accuracy Statement

Follow these steps in sequence to prepare and sign the statement accurately.

01

Assemble details: Gather legal names, EIN/TIN, addresses, and supporting records.
02

Draft statement: Use clear factual language and specify the scope being certified.
03

Assign signer: Ensure an authorized officer or delegated signatory signs.
04

Execute and retain: Sign, date, and store the executed copy with the transaction file.

Where to send or file the signed statement

After execution, route the signed statement to internal stakeholders and external requestors according to the transaction's requirements.

Internal Records: Store with vendor or contract files.
Requesting Party: Send to the payer or contracting counterparty.
Regulatory Filing: Attach when required by regulator or tax authority.
Audit Team: Provide on request for internal or external audits.

Typical digital workflow settings for e‑submission

Configure these workflow elements when preparing the document for electronic signing and routing.

Field	Configuration
Signer Authentication	Email link, SMS code, or stronger MFA
Notifications and Reminders	Set automatic reminders and completion alerts
Form Fields	Use required, conditional, and date fields
Routing Order	Sequential or parallel signer order

Technical considerations for eSubmission and sharing

Ensure your chosen platform supports the file formats, authentication strength, and retention requirements your process demands.

File formats: PDF and DOCX supported
Integrations: CRM and cloud storage integrations
Security: TLS and AES-256 encryption

Confirm the platform can produce an audit trail and preserve a tamper-evident record that meets ESIGN/UETA and any industry-specific obligations.

Core elements of a professional Business Accuracy Statement

Include these six elements to make the statement clear, enforceable, and practical for compliance or audit review.

Clear identification

Full legal name of the business and any DBA names, corporate identifiers like EIN/TIN, and the signer’s capacity to bind the entity.

Precise factual scope

A concise description of the facts or representations being certified, including effective dates and any temporal limitations on the certification.

Authority statement

A declaration that the signer has the requisite authority to make representations on behalf of the business.

Signature and date

A dated signature block for the authorized signer with printed name and title; for electronic execution, include the audit trail metadata.

Supporting attachments

Attach corroborating documents such as formation records, ownership certificates, W-9, or recent IRS correspondence when requested.

Governing law and notices

Optional clause identifying governing state law for interpretation and a contact method for notice or correction requests.

Required information typically included

Entity name: Full legal name

Tax identifier: EIN or TIN

Authorized signer: Name and corporate title

Principal address: Street, city, state, ZIP

Accuracy statement: Scope and representations

Execution data: Signature and MM/DD/YYYY date

Consequences of inaccurate or missing statements

Tax penalties: IRS penalties under IRC §6721 possible

Backup withholding: 24% backup withholding may apply

Contract disputes: Breach claims and damages exposure

Regulatory fines: Agency sanctions or compliance fines

Criminal liability: Intentional misstatement can trigger charges

Reputational harm: Loss of trust with partners

Common preparation errors to avoid

Using inconsistent legal names across documents, which causes mismatches during verification and can delay payments or approvals.
Entering an incorrect EIN or TIN format; dashes or transposed digits often trigger backup withholding and IRS notifications.
Having an unauthorized individual sign, which creates grounds to challenge the statement’s validity and can require costly remediation.
Failing to retain an auditable record or not preserving metadata, leaving no proof of signer intent or attribution under ESIGN standards.

Typical timing and processing expectations

Timelines vary by use case; use these common deadlines as a baseline for planning and compliance.

Provide on request:

Deliver the statement promptly when requested by a payer or regulator

Vendor onboarding:

Complete before first payment or contract activation

Tax reporting window:

Resolve TIN issues before year-end reporting deadlines

Notarization timing:

Execute notary steps prior to submission deadlines

Update frequency:

Amend within 30 days of material changes

Best practices to ensure accuracy and defensibility

Adopt standard processes and controls to minimize errors and support future audits.

Use a template reviewed by counsel

Standardize the statement language across the organization and have legal review it to ensure enforceability and to reduce variance in representations.

Verify identity and authority

Confirm the signer’s authority with corporate records or a board resolution; retain evidence of permission to sign to defend against challenges.

Preserve an audit trail

Capture metadata including timestamps, IP addresses, authentication method, and a certificate of completion to support electronic execution under ESIGN and UETA.

Maintain version control

Store executed copies in a secure repository with clear retention labels and a record of any subsequent amendments or revocations.

How organizations use a Business Accuracy Statement in practice

These examples illustrate real-world adoption and the operational benefits of having a signed accuracy declaration.

Optica Ventures LLC — finance verification

A small investment firm required vendor tax details certified before payment

The firm used a signed accuracy statement to collect TINs and authority confirmation
This created a single source of truth, accelerated vendor onboarding, and reduced reconciliation exceptions during audits.

Martin Properties — lease and closing workflows

A property management company standardized statements for corporate signers

They attached the statement to lease filings and vendor contracts
Standardized execution reduced disputes over who authorized agreements and streamlined closing checklists for multiple properties.

Pricing and feature comparison for eSignature platforms

Platform pricing varies by plan and features; compare starting price, trial availability, bulk send, audit trail, HIPAA support, and envelope limits.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	Yes, 7-day free trial	No free trial	No free trial	Yes, limited trial	Yes, limited trial
Bulk Send	Yes (Business Premium)	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
Envelope Cap	No envelope cap	100 envelopes/user/year	Varies by plan	Varies by plan	Varies by plan

Frequently asked questions about Business Accuracy Statements

Answers to common legal, execution, and storage questions when preparing or receiving a Business Accuracy Statement.

Need help? Contact support

Are electronic signatures valid?
Yes. Electronic signatures that show signer intent, consent, attribution, and record retention meet the ESIGN Act (15 U.S.C. ch. 96) and UETA requirements in most states; exceptions apply for certain document types.
When is notarization required?
Notarization depends on state law and the document’s purpose; deeds and some affidavits typically require notarization, while a simple business accuracy statement often does not unless requested by the counterparty or local rules demand it.
How do I correct an error after signing?
Prepare an amendment or corrected statement signed and dated by the same authorized signer; retain both versions and a clear audit log showing why the change occurred to prevent confusion.
Who can sign for the company?
An officer, director, manager, or person expressly authorized by corporate resolution should sign. Retain documentation of delegated authority to defend the signature’s validity if challenged.
What if the IRS flags a TIN mismatch?
Resolve promptly by providing corrected documentation or a new statement; unresolved mismatches can trigger backup withholding at 24% and reporting under IRC provisions.
How should I store executed statements?
Store in a secure, access-controlled repository with retention metadata, an auditable trail, and the ability to reproduce the record; follow federal retention rules and any applicable state or industry-specific requirements.

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