Are electronic signatures valid?

Yes. Electronic signatures are legally valid for most commercial transactions under the ESIGN Act and UETA when intent, consent, attribution, and record retention are present.

When is notarization required?

Notarization is required where state law or the parties request it for evidentiary purposes; some documents (real-estate deeds, certain acknowledgements) commonly require a notary.

How do I correct an executed statement?

Avoid altering an executed copy. Prepare an amendment or corrected statement that both parties sign; retain originals and the amendment together to preserve auditability.

Can a delegate sign on behalf of a company?

Yes, if written delegation (board resolution, power of attorney, or documented authority) is in place; otherwise the signature could be challenged for lack of authority.

What if confidential data is shared?

Include explicit data handling, encryption, and permitted-use terms; for HIPAA-regulated data attach a Business Associate Agreement and implement technical safeguards.

How long should I keep the documents?

Retain per applicable rules: IRS minimums and industry rules apply (for example IRS three-year baseline, HIPAA six years). Consult counsel for any conflicting obligations.

Electronic Signature
Templates
Miscellaneous
Business Cooperation Statement

Business Cooperation Statement

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

BUSINESS COOPERATION STATEMENT

This Business Cooperation Statement ("Statement") is made effective as of by and between the parties identified below.

Party A (Business Name): Party A Address: Authorized Representative (Party A): Party A Contact (email or phone): Party B (Business Name): Party B Address: Authorized Representative (Party B): Party B Contact (email or phone):

RECITALS (WHEREAS)

WHEREAS, Party A and Party B each possess complementary capabilities, resources and expertise and desire to cooperate in connection with certain business activities described below; and

WHEREAS, the parties intend by this Statement to set forth the general terms and conditions under which they will coordinate efforts, allocate responsibilities and share specified financial obligations for the mutually agreed scope of work; and

WHEREAS, this Statement is intended to govern the parties' cooperation, including payment, confidentiality, termination and governing law, and to serve as the basis for any subsequent definitive agreement if required.

SCOPE OF WORK

The parties agree to cooperate on the following project and tasks. The scope described below identifies responsibilities that each party will perform or contribute. Each party shall perform its obligations in a commercially reasonable manner consistent with industry standards.

PAYMENT TERMS

Payment obligations arising from the parties' cooperation will be allocated and paid as set forth below. All monetary amounts are in U.S. dollars unless otherwise noted.

Total Project Amount (if applicable): Payment Schedule and Milestones: Invoice Payment Terms (Net days): Late Payment Fee:

Unless otherwise agreed in writing, a party receiving an invoice shall pay undisputed amounts within the invoice payment term. Disputes must be raised in writing within ten (10) business days of receipt; undisputed portions remain due.

TERM AND TERMINATION

This Statement shall commence on the Start Date below and shall continue until the End Date below unless earlier terminated as provided herein.

Start Date: End Date:

Notice Period for Termination (days):

Either party may terminate this Statement for material breach by the other party if the breaching party fails to cure such breach within the notice period specified above after receiving written notice. Either party may terminate for insolvency, bankruptcy, or assignment for the benefit of creditors upon written notice.

Termination shall not relieve either party of obligations accrued prior to termination. Sections concerning confidentiality, payment of accrued amounts, indemnity and governing law shall survive termination.

CONFIDENTIALITY

For purposes of this Statement, "Confidential Information" means non-public, proprietary information disclosed by one party ("Disclosing Party") to the other ("Receiving Party") in connection with the cooperation, whether disclosed orally, visually or in writing, and which is designated as confidential or by its nature would reasonably be considered confidential.

The Receiving Party shall (a) safeguard Confidential Information with the same degree of care it uses to protect its own confidential information but no less than reasonable care; (b) use Confidential Information solely to perform its obligations under this Statement; and (c) not disclose Confidential Information to any third party except to employees, contractors or advisors with a bona fide need to know and who are bound to maintain confidentiality no less restrictive than this clause.

Confidential Information shall not include information that: (i) becomes generally available to the public other than through a breach of this Statement; (ii) was lawfully in the Receiving Party's possession prior to disclosure; or (iii) is rightfully received from a third party without restriction and without breach of any obligation of confidentiality.

GOVERNING LAW

This Statement shall be governed by and construed in accordance with the laws of the state of without regard to its conflicts of law principles. The parties submit to the exclusive jurisdiction of the state and federal courts located in that state for any dispute arising out of or relating to this Statement.

ENTIRE AGREEMENT; AMENDMENT

This Statement, together with any written attachments or schedules expressly incorporated herein, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, proposals, representations and understandings, whether written or oral. Any amendment or modification of this Statement must be in writing and signed by authorized representatives of both parties.

NOTICES

All notices required or permitted under this Statement shall be in writing and shall be delivered to the addresses set forth above or to such other address as a party may designate in writing. Notice shall be effective upon receipt.

MISCELLANEOUS

Neither party may assign its rights or delegate its obligations under this Statement without the prior written consent of the other party, except that a party may assign this Statement in connection with a merger, sale of substantially all assets, or change of control provided the assignee assumes the assigning party's obligations. If any provision of this Statement is held invalid or unenforceable, the remaining provisions will remain in full force and effect.

Party A:

By:

Date:

Party B:

By:

Date:

What a Business Cooperation Statement Is and when it’s used

A Business Cooperation Statement is a written record that documents how two or more commercial parties will cooperate on a project, transaction, or investigation. It typically states the parties, scope of cooperation, responsibilities, information-sharing rules, confidentiality, and any limits on liability or use of shared materials. In the U.S. this document functions as an operational agreement rather than a substitute for formal contracts; when intended to be binding it should include signatures, an effective date, and clear performance terms. Electronic execution is acceptable under ESIGN and UETA when the parties meet legal validity conditions.

Why a clear Business Cooperation Statement matters

A concise statement reduces ambiguity about roles, timelines, and data sharing while documenting consent and authority among business partners. It helps limit disputes by recording agreed procedures.

Who typically completes and relies on this document

Organizations use these statements to coordinate cross-company projects, investigations, or shared services where responsibilities need documenting before or alongside formal contracts.

Project managers coordinating multi-vendor deliveries and resource sharing across departments.
Legal and compliance teams documenting limited data exchanges and accountability during investigations or regulatory responses.
Finance or procurement staff formalizing operational cooperation tied to invoices, payments, or shared cost centers.

Internal teams, outside counsel, compliance officers, and contract administrators commonly reference the statement during execution, oversight, and audit activities.

Typical signatories and their authority

Authorized Officer

A corporate officer (CEO, CFO, or delegated executive) who has board- or bylaw-granted authority to bind the entity. Their signature confirms organizational consent to the cooperation terms and creates contractual obligations between entities; attach board resolution if requested by counterparties or auditors.

Designated Representative

An employee or external agent authorized in writing (delegation, power of attorney, or contract) to act for the organization on operational matters. The delegation should be documented and contemporaneous to avoid disputes about authority.

Core components to include in a professional Business Cooperation Statement

A complete statement spells out scope, roles, deliverables, timelines, data handling, and signature blocks so counterparties and auditors can understand obligations without supplemental documents.

Parties

Full legal names and entity types for each party, including DBA names where used and the authorized signatory name and title; avoid informal nicknames to prevent identity or enforcement issues.

Purpose

A brief, precise description of the cooperation objective, referencing any related contracts, purchase orders, or investigations so the statement is contextually anchored to specific activities or deliverables.

Scope

Clear boundaries of what cooperation covers and excludes, deliverables or data to be shared, milestones, and any geographic or temporal limits to avoid scope creep and disputes.

Responsibilities

Who does what, performance standards, points of contact, escalation procedures, and decision rights that determine day-to-day execution and remedial steps for missed obligations.

Confidentiality

A description of confidential materials, permitted uses, data protection measures, and any required privacy addenda for regulated data (for example HIPAA-protected health information).

Signatures & Dates

Signature block(s) with printed names, titles, and effective date; include witness or notary lines if required by jurisdiction or counterparty for added formality.

Required fields every statement should contain

Legal Names: Full registered entity names

Contact Info: Street address, email, phone

Effective Date: MM/DD/YYYY format

Scope Summary: Short scope statement

Signatory Details: Name, title, authority

Retention Clause: Recordkeeping period

Step-by-step: filling out a Business Cooperation Statement

Follow a straightforward sequence to complete, verify, and sign the statement so all parties share the same expectations and audit trail.

01

Prepare: Gather entity documents, contact names, and the related contract or PO.
02

Draft: Complete parties, purpose, scope, and obligations concisely.
03

Review: Legal and compliance review for regulatory or confidentiality issues.
04

Execute: Sign by authorized representatives and record the effective date.

How to customize and complete the statement online

Configure a digital workflow that assigns fields, sets signer order, and captures an audit trail for compliance and recordkeeping.

Field	Configuration
Party Name	Required text field; validation for non-empty value
Effective Date	Date picker, MM/DD/YYYY format
Signature	Signer field with timestamp and IP logging
Confidential Checkbox	Optional; triggers redaction workflow if checked

Distribution, formats, and platform considerations

Choose a platform that preserves document integrity, supports common file formats, and provides an audit trail for each signer.

File formats: PDF, DOCX, and editable Word
Integrations: CRM and cloud storage connectors
Authentication: Email, SMS, or stronger methods

Ensure the chosen method supports legal retention, produces a certificate of completion, and can export signed copies for internal records.

Where to send or file the completed statement

Routing depends on the purpose: legal records, project documentation, compliance filing, or internal archives each have typical destinations.

Counterparty: Send signed copy to all cooperating parties for their records.
Legal Counsel: Provide counsel with the executed statement for contract integration.
Project Folder: Store in the project’s document repository or DMS.
Compliance Archive: Retain a copy where regulated records are held.

Typical timelines and deadline considerations

Establish clear deadlines for execution, data exchanges, and milestone reviews to reduce ambiguity and avoid breach allegations.

Execution Deadline:

Specify a firm date for signature and effective operation.

Data Delivery:

List dates or windows for any required information transfers.

Review Period:

Allow a specified number of business days for legal review.

Amendment Window:

State how and when the statement may be modified.

Retention Start:

Recordkeeping begins on the effective date unless stated otherwise.

Key milestones from draft to archive

Use a milestone sequence to track drafting, approvals, execution, and archival to maintain a defensible document lifecycle.

01

Draft Completion

Initial draft prepared and circulated for internal review.

02

Legal Sign-off

Compliance completes review and flags any regulatory issues.

03

Execution

Authorized signatories execute and date the statement.

04

Archival

Final executed copy stored in records management system.

Common mistakes to avoid when preparing this statement

Using informal party names that differ from legal registrations, which can complicate enforcement or bank/finance reliance.
Failing to identify regulated data types (for example, PHI) and omitting required privacy safeguards and addenda.
Leaving ambiguous timing phrases such as 'promptly' or 'as needed' that invite disputes over performance and deadlines.
Not documenting authority to sign (board resolution or delegation), which can lead counterparties to question enforceability.

Potential legal and compliance risks

Breach Litigation: Civil damages and enforcement exposure

Regulatory Penalties: Fines for mishandling regulated data

Tax Consequences: Reporting errors that trigger penalties

Authority Dispute: Signatory lacking binding authority

Notarization Omission: May impede record acceptance

Record Retention: Failure to meet legal retention

Pricing and feature snapshot for eSignature providers (signNow first)

Compare basic price points and core capabilities to choose an eSignature provider that meets authentication, compliance, and volume needs.

	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, no credit card	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes	Yes	Yes	Yes	Varies
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	Varies	Varies
Envelope Cap	No cap	100 envelopes/user/year	Varies	Varies	Varies

Frequently asked questions about Business Cooperation Statements

Answers to common questions about enforceability, signatures, corrections, and recordkeeping when using a Business Cooperation Statement.

Need help? Contact support

Are electronic signatures valid?
Yes. Electronic signatures are legally valid for most commercial transactions under the ESIGN Act and UETA when intent, consent, attribution, and record retention are present.
When is notarization required?
Notarization is required where state law or the parties request it for evidentiary purposes; some documents (real-estate deeds, certain acknowledgements) commonly require a notary.
How do I correct an executed statement?
Avoid altering an executed copy. Prepare an amendment or corrected statement that both parties sign; retain originals and the amendment together to preserve auditability.
Can a delegate sign on behalf of a company?
Yes, if written delegation (board resolution, power of attorney, or documented authority) is in place; otherwise the signature could be challenged for lack of authority.
What if confidential data is shared?
Include explicit data handling, encryption, and permitted-use terms; for HIPAA-regulated data attach a Business Associate Agreement and implement technical safeguards.
How long should I keep the documents?
Retain per applicable rules: IRS minimums and industry rules apply (for example IRS three-year baseline, HIPAA six years). Consult counsel for any conflicting obligations.

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