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Business Choice List

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BUSINESS CHOICE LIST AND SERVICE AGREEMENT

This Business Choice List and Service Agreement (the "Agreement") is entered into between Provider Name: and Client Name: on this day of of , .

WHEREAS

WHEREAS, Provider is engaged in the business of providing professional services and solutions as described in the Scope of Work below; and

WHEREAS, Client desires to retain Provider to perform selected services and elect certain business choices as set forth on the Business Choice List attached hereto and incorporated herein; and

WHEREAS, the parties intend for this Agreement to govern the provision of services, selection of business options, payment, confidentiality, term and termination, and other material terms between the parties.

BUSINESS CHOICE LIST

Please indicate the Client's selections and elections by checking the appropriate boxes and completing any accompanying fields. Selections made below are binding under this Agreement unless otherwise modified in writing signed by both parties.

Sole Proprietorship Partnership Limited Liability Company (LLC) Corporation

Consulting Software Development Marketing Retail

S Corporation C Corporation Partnership/Pass-through Other

SCOPE OF WORK

Provider shall perform the services selected by Client as indicated in the Business Choice List and any additional services described below. The parties agree that the Scope of Work will be interpreted in light of the specific selections made by Client and the performance standards set forth in this Agreement.

PAYMENT TERMS

Client shall pay Provider for services performed in accordance with the selections made and the payment schedule below. All fees are stated in U.S. dollars and exclude taxes unless otherwise noted.

Upfront in full By milestone Net terms

TERM AND TERMINATION

This Agreement shall commence on Start Date: and shall continue until End Date: unless earlier terminated in accordance with this Section.

Either party may terminate this Agreement for convenience by providing written notice to the other party at least Notice Period (days): days prior to the intended termination date. Either party may terminate immediately for material breach if such breach is not cured within thirty (30) days after written notice of breach.

CONFIDENTIALITY

“Confidential Information” means all non-public information disclosed by either party to the other that is marked confidential or that a reasonable person would understand to be confidential given the nature of the information and the circumstances of disclosure. The receiving party shall (i) hold Confidential Information in strict confidence, (ii) use such Confidential Information solely to perform its obligations under this Agreement, and (iii) not disclose Confidential Information to any third party except to employees, contractors or advisors who have a need to know and who are bound by confidentiality obligations no less restrictive than those in this Agreement.

Confidentiality obligations do not apply to information that (a) is or becomes generally known through no fault of the receiving party, (b) was lawfully known to the receiving party prior to disclosure, (c) is rightfully received from a third party without restriction, or (d) is independently developed without reference to Confidential Information. Upon termination or request, the receiving party shall return or destroy Confidential Information and certify such return or destruction upon request.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of , without regard to conflict of laws principles. The parties consent to the exclusive jurisdiction of the state and federal courts located in that State for disputes arising under this Agreement.

ENTIRE AGREEMENT

This Agreement, including the Business Choice List and any attachments or addenda executed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, proposals, negotiations and communications, whether oral or written. Any amendment or modification must be in writing and signed by authorized representatives of both parties.

CONTACT INFORMATION

ADDITIONAL TERMS

The parties acknowledge that selections on the Business Choice List affect fee structure, responsibilities and compliance obligations. Each party represents that it has the authority to make the selections and to enter into this Agreement.

Provider Name:

By:

Date:

Client Name:

By:

Date:

Enter text✕

What the Business Choice List Is and when it’s used

The Business Choice List is a structured checklist used to document a company’s selected options, elections, or preferences for a specific transaction, filing, or internal decision. It consolidates entity details, tax and payment selections, authorized signers, effective dates, and any required attachments so responsible parties can review and approve a single, auditable record before execution and submission to external recipients or internal approvers.

Why a Business Choice List matters for accuracy and accountability

A Business Choice List reduces ambiguity by centralizing decisions that affect tax reporting, regulatory filings, vendor setup, or corporate records. It documents intent, captures required data in one place, and creates an auditable record that supports compliance and consistent processing across teams.

Why a Business Choice List matters for accuracy and accountability

Who typically prepares and who reviews a Business Choice List

Assign clear ownership for completion and final signature to reduce rework and ensure the list is filed or shared with the correct recipient on schedule.

  • Finance and accounting: prepares tax and payment selections, verifies EIN and withholding data, and confirms reporting obligations.
  • Legal and compliance: reviews governing law, approval authorities, and any regulatory implications for the choices made.
  • Authorized signer or executive: confirms selections, attests to accuracy, and provides signature authority to bind the company.

Core sections every professional Business Choice List should include

A complete Business Choice List groups related information to speed review and reduce errors. Use clear section headings so reviewers can verify required items quickly.

Entity details

Legal business name, DBA if any, entity type (LLC, Corporation, Partnership), and EIN or TIN used for tax reporting and identity verification.

Authorized signer

Name, title, contact information, and a statement of authority showing the signer may bind the entity for the selections listed on the document.

Selected options

Explicitly state each election or choice (tax classification, billing method, payment terms, insurance options), including dollar amounts or percentages where applicable.

Effective and expiration dates

Specify start and end dates using MM/DD/YYYY format so obligations and reporting periods are clear to all parties.

Supporting attachments

List required support (e.g., W-9, certificate of formation, insurance declarations) and confirm whether originals or certified copies are required.

Approval history

Provide signatures, initials, or e-signature events with timestamps and an audit trail to record who approved each item and when.

Step-by-step: completing a Business Choice List

Follow these sequential steps to ensure the list is accurate, signed, and delivered to the correct recipient.

  • 01
    Gather documents: Collect EIN confirmation, formation documents, and IDs.
  • 02
    Fill fields: Enter required data using prescribed formats.
  • 03
    Review internally: Have finance or legal verify selections.
  • 04
    Sign and record: Obtain signature, save audit trail, and distribute.

Configuring an online workflow for the Business Choice List

Standardize the digital workflow so fields, authentication, and routing are consistent across use cases and easy for recipients to complete.

Field Configuration
Required fields Mark entity name, EIN, effective date as mandatory.
Authentication Use email link or SMS code for signer verification.
Routing order Set role-based sequential approvals where needed.
Retention Save completed copy and audit trail to secure storage.

Where to send or file the completed Business Choice List

Choose the recipient and delivery channel based on purpose—tax reporting, vendor onboarding, internal records, or regulatory submission—and keep a timestamped copy for audit purposes.

  • To a payer or vendor: Attach completed list with W-9 or contract.
  • To state agency: File supporting documents per local filing rules.
  • Internal records: Store in finance or compliance repository.
  • To external counsel: Send for legal review when elections are complex.

Digital submission and platform considerations

Ensure chosen platform supports required authentication level, long-term storage export, and any regulatory features (for example, HIPAA BAA or 21 CFR Part 11) that apply to your industry.

  • File formats: PDF, DOCX, or fillable form supported.
  • Authentication options: Email, SMS code, KBA, or SSO.
  • Audit trail: IP, timestamp, and action log captured.

Common eSignature vendor comparison for executing a Business Choice List

Comparison of typical vendor starting prices and common capabilities relevant to signing and distributing a Business Choice List; signNow is listed first per standard vendor ordering.

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 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Key data elements required on the Business Choice List

Signatory Name: Full legal name
Entity Type: LLC, C corp, S corp
EIN / TIN: Nine-digit tax ID
Effective Date: MM/DD/YYYY
Signer Title: Official role
Contact Info: Email and phone

Potential penalties and compliance risks to avoid

1099 Late Penalty: $60–$330 per form
Intentional Disregard: $660+ per form
Incorrect EIN: Backup withholding 24% risk
I-9 Violations: $281–$2,789 per violation
HIPAA Breach: Civil penalties, breach notification
Notarization Failure: Document invalidated for recordation

Common mistakes when preparing a Business Choice List

  • Mismatched names and TINs: entering a trade name or informal name instead of the legal business name causes vendor setup delays and tax reporting errors.
  • Missing signatures or improper authority: allowing someone without signing authority to sign can invalidate elections and create liability for the company.
  • Incorrect dates or ambiguous effective periods: failing to use MM/DD/YYYY or leaving an expiration blank can affect filing periods and enforcement.
  • Omitting required attachments: not attaching a W-9, formation document, or insurance certificate is a frequent cause of rejection or delayed onboarding.

Real-world examples of Business Choice List use

How organizations use a centralized checklist varies by industry; the examples below show practical outcomes from real customers.

Tim Martin — Founder, Martin Properties

Tim used digital checklists for property onboarding to avoid in-person meetings and speed closings.

  • He processed and executed documents online with built-in security.
  • The result was faster turnarounds for leases and greater consistency across property files while maintaining compliance controls.

John Butler — Founder, Fertility Centers of Illinois

John’s organization centralized signature workflows to ensure patients and providers received consistent forms.

  • The team praised vendor responsiveness and API integration.
  • Centralized digital lists improved tracking, reduced incomplete forms, and provided an auditable trail for clinical and administrative compliance.

Frequently asked questions about the Business Choice List

Answers to common questions about completion, signature validity, distribution, and retention for Business Choice Lists used in U.S. transactions.


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